other material
confidence high
sentiment neutral
materiality 0.70
Curtiss-Wright files preliminary proxy; discloses Saddle Point nominations for board seats
CURTISS WRIGHT CORP
- Saddle Point Management (0.298% stake) nominated four directors; company urges withdrawal and constructive dialogue.
- Board nominates 10 directors; 5 joined in last 5 yrs. TSR 32% since Jan 2021 vs proxy peers 6% and S&P 400 13%.
- 2021 record operating margin 17%, strong FCF; $350M share repurchases in 2021, $1B since 2016, at least $50M planned in 2022.
- Company expects increasing defense mix; six of last seven acquisitions defense-related; divesting non-defense businesses.
- Annual meeting date not announced; company advises deferring voting decisions until definitive proxy materials.