Gottwald Group Amends Tredegar Corp Stake Filing

TL;DR

Gottwald family/trust updated their Tredegar stake filing - watch for moves.

AI Summary

John D. Gottwald, William M. Gottwald, James T. Gottwald, and Residual 10-Year CLAT UA FDGJR Living Trust have filed an amendment (No. 15) to their Schedule 13D for Tredegar Corporation, dated April 8, 2024. This filing indicates a change in beneficial ownership of Tredegar Corporation's common stock.

Why It Matters

This filing signals potential shifts in control or strategy for Tredegar Corporation, as significant shareholders update their beneficial ownership information.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or changes in control, which can introduce volatility.

Key Numbers

• 005-40401 — SEC File Number (Identifier for Tredegar Corporation's filings)
• 894650 100 — CUSIP Number (Identifier for Tredegar Corporation's common stock)

Key Players & Entities

• John D. Gottwald (person) — Filing party and authorized contact
• William M. Gottwald (person) — Filing party
• James T. Gottwald (person) — Filing party
• Residual 10-Year CLAT UA FDGJR Living Trust (company) — Filing party
• Tredegar Corporation (company) — Subject company
• Westham Partners (company) — Address for filing parties
• Sullivan & Cromwell LLP (company) — Legal counsel

FAQ

Filing Documents

• d803517dsc13da.htm (SC 13D/A) — 69KB
• d803517dex991.htm (EX-99.1) — 3KB
• 0001193125-24-089036.txt ( ) — 74KB

is further amended by adding the following

Item 4 is further amended by adding the following: In Amendments 13 and 14, John, William and James Gottwald, while noting that they could be considered a group because of their role as trustees to certain trusts related to their late father, stated that there was no agreement between them with respect to the acquisition, retention, disposition or voting of shares of the Issuers Common Stock. They have now agreed that they will vote their shares, as well as the shares of the trusts as to which they serve as trustees, against most of the nominees for director and against the named executive officer compensation to express their concern with company performance and the board oversight thereof. These concerns, which had been expressed privately by John Gottwald in an email to the board last fall (as to which he received no response), include the performance of the Issuers Common Stock (particularly in contrast to the stock market in general over the past five years), the elimination of the corporate dividend and excessive corporate expenses. The Reporting Persons expect the board of directors to oversee management strategy and performance. When it becomes clear that performance is not providing value for shareholders over a reasonable time frame, then the board needs to consider changes in senior management. The Reporting Persons have no plans to propose an alternate slate of director nominees or solicit proxies. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

is further amended by adding the following: See Item 4

Item 6 is further amended by adding the following: See Item 4. Item 7. Material to be Filed as Exhibits . Exhibit99.1. Agreement between John D. Gottwald, William M. Gottwald, James T. Gottwald and the Residual 10-Year CLAT UA FDGJR Living Trust with respect to the filing of this Amendment No. 15 to the statement to Schedule 13D. After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: April 5, 2024 /s/ John D. Gottwald John D. Gottwald /s/ William M. Gottwald William M. Gottwald /s/ James T. Gottwald James T. Gottwald Residual 10-Year CLAT UA FDGJR Living Trust /s/ James T. Gottwald, as trustee By: James T. Gottwald, as trustee

View Full Filing

View this SC 13D/A filing on SEC EDGAR