Broadwind confirms WM Argyle Fund's 1% stake proxy contest; no action required yet

BROADWIND, INC.

WM Argyle Fund, holding ~1% of BWEN stock (~$1.2M), intends to nominate six directors for 2023 Annual Meeting.
Broadwind board currently has six directors, 80% independent; avg tenure <7 years.
Company highlights 250% stock price increase over trailing three years and outperformance in 2022.
Broadwind criticizes the proxy contest as costly, disruptive, and a disguised takeover attempt without paying a premium.
No action required by stockholders; company will present recommendations in definitive proxy statement.

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