BlackLine receives director nominations from Engaged Capital

BlackLine Inc. (NASDAQ: BL) confirmed that Engaged Capital has submitted a notice nominating three director candidates for election to the company's board at its 2026 annual stockholders meeting.

The financial software company said its Nominating and Corporate Governance Committee will review the proposed nominees according to company guidelines. BlackLine will present its formal recommendation regarding director nominees in its definitive proxy statement to be filed with the Securities and Exchange Commission.

"Multiple members of our Board of Directors and management team have met with and held seven discussions with Engaged in the past 12 months," said David Henshall, Lead Independent Director. The discussions occurred during periods when Engaged was and was not an investor in the company.

BlackLine disclosed that its board has maintained an independent strategic committee for more than a year, with current members including Henshall as chairperson, Greg Hughes, and Tom Unterman. Morgan Stanley & Co. LLC serves as financial advisor to the company.

The company previously announced that Tom Unterman will not seek reelection at the annual meeting. In response to stockholder feedback on board size, the board plans to reduce from 12 to 11 directors upon Unterman's resignation, leaving three Class I director seats up for election.

BlackLine has appointed seven new independent directors in the past five years, including one selected in consultation with a stockholder in 2025. CEO Owen Ryan said the company will provide updates on recent strategic initiatives alongside fourth quarter 2025 results during its February earnings call.

You May Also Be Interested In

• LivePerson adjourns stockholder vote on SoundHound AI merger to Sept. 2
• ACRES Commercial Realty says labor dispute is hindering hotel sale
• Musalem: strong growth and investment influencing bond market - CNBC