DJ Activist WaterMill Gets Third Ziopharm Board Seat -- Market Talk

· 02/05/2021 10:05

1004 ET - Ziopharm Oncology adds WaterMill Asset Management founder Robert Postma to its board as part of a settlement agreement with the activist investor. Watermill won two board seats, along with the ouster of then chairman Scott Tarriff, in a consent solicitation in December, but a cap on board membership at eight kept Postma from a third WaterMill seat. Ziopharm says it's expanding the board to nine and adding Postma as part of the standstill deal, and that it will reimburse WaterMill for up to $400,000 in costs related to its efforts. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

February 05, 2021 10:05 ET (15:05 GMT)