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Wheeler REIT activist investor files proxy, nominates three for board

  • Wheeler REIT (NASDAQ:WHLR) activist shareholder Stilwell Group files proxy statement and urges other shareholders to vote for its slate of board nominees, saying that the board rewarded itself with large raises while the REIT's stock has declined. Its nominees are:
  • Joseph D. Stilwell, owner and managing member of Stilwell Value LLC;
  • Paula J. Poskon, founder of STOV Advisory Services;
  • Corissa Briglia Porcelli, director of research for The Stilwell Group.
  • Stilwell entities hold 919,540 of Wheeler's shares, representing about 9.8% of the company's outstanding shares.
  • Wheeler's stock is down 51% year-to-date.
  • Source: Press Release
  • Previously: Wheeler REIT gains as shareholder seeks to replace at least three directors (July 9)

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Wheeler Real Estate Investment Trust, Inc.