trending Market Intelligence /marketintelligence/en/news-insights/trending/XnnyxRzDvZRFvr0_kf0wNw2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Proxy adviser Egan-Jones supports Snow Park's slate for Front Yard board


Climate Credit Analytics: Linking climate scenarios to financial impacts


Banking Essentials Newsletter: May Edition


Latin American and Caribbean Market Considerations Blog Series: Focus on IFRS 9


Real Estate News & Analysis: April Edition

Proxy adviser Egan-Jones supports Snow Park's slate for Front Yard board

Snow Park Capital Partners LP received support from proxy adviser Egan-Jones Proxy Services for its entire slate for the board of Front Yard Residential Corp.

The activist shareholder said Egan-Jones recommended that Front Yard shareholders vote to elect all three of Snow Park's independent nominees to the single-family-rental real estate investment trust's board at the May 23 annual meeting. They are Leland Abrams, Lazar Nikolic and Jeffrey Pierce.

In making its recommendation, Egan-Jones reaffirmed Snow Park's concerns over the REIT's weak corporate governance, poor long-term performance and strategic lapses. Egan-Jones argued that electing Snow Park's entire slate "will send a strong signal to the company that an urgent action is needed to correct the current state" at Front Yard.

Proxy advisers Institutional Shareholder Services Inc. and Glass Lewis & Co. LLC earlier recommended the election of Snow Park's nominees Abrams and Nikolic to Front Yard's board.