Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Websense, Inc. > News item |
Shamrock sells shares of Websense, recommends ways company can improve governance
By Lisa Kerner
Charlotte, N.C., Nov. 18 - A group of Websense, Inc. investors led by Shamrock Activist Value Fund, LP sold 276,754 shares of the company's stock for a total of $5.2 million, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.
The shares were sold between Oct. 3 and Nov. 7 at prices from $17.6821 to $20.2039 each.
Also in the filing, Shamrock said to improve its corporate governance, Websense should:
• Declassify its board of directors;
• Name a lead independent director;
• Adopt a majority voting standard for election of directors;
• Eliminate all supermajority voting requirements for actions by shareholders; and
• Grant shareholders the right to cast an annual advisory vote on executive compensation.
In October, Shamrock and its affiliates said they may sell their common shares of several companies, including Websense, after receiving a redemption request.
Shamrock beneficially owns approximately 3.9 million shares, or 8.68%, of the San Diego web filtering services company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.