Olshan Advises Client Starboard on Its Agreement with Tripadvisor for Four New Directors

The Wall Street Journal (subscription required), The Deal (subscription required), Yahoo! Finance, The Boston Globe (subscription required), MSN, Stock Titan and StreetInsider (subscription required) have reported that Olshan client Starboard Value LP reached a cooperation agreement with Tripadvisor, Inc. (NASDAQ: TRIP) providing for the immediate appointment of two new directors to the company’s board and granting Starboard the right to recommend two additional director candidates for election at Tripadvisor’s 2026 annual meeting of stockholders.  The size of Tripadvisor’s board was initially expanded from eight to ten directors and will remain at ten directors following the 2026 annual meeting.  In connection with the cooperation agreement, the company also amended its Bylaws to permit Tripadvisor stockholders to act by written consent and call special meetings of stockholders and Starboard agreed to customary standstill and voting obligations. Olshan Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman, Shareholder Activism partner Meagan Reda, associate Mark Kiley and law clerk Joshua Becker represented Starboard Value LP in this matter.