PetMed Express adopts limited-duration shareholder rights plan (poison pill) with 12.5% trigger

PETMED EXPRESS INC

Board cites recent significant stock accumulations by certain shareholders; stock not reflecting intrinsic value.
Rights dividend for holders of record Dec. 16, 2024; exercisable if a 12.5%+ owner is not Board-approved.
Upon trigger, non-acquiring holders can buy shares at 50% discount; rights expire Dec. 2, 2025.
Rights plan includes derivative securities in beneficial ownership definition; Board can redeem at $0.001 per right.
Plan does not prevent Board-approved transactions and allows exempt persons and existing holders to avoid trigger.

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