While your suggestion makes sense - been there done that.

I suspect they are rightfully a bit gun-shy of this approach, even with a Baroni recommendation.

RG looked good on paper, they gave him the reins, and greed and stupidity took over from there - a disaster of relatively minor proportions (though $15M net IS significant).

And they can't even use RG as an effective scapegoat - don't work if everyone knows who gave the final blessings.

I say give them 90 days (not 120) and see what happens. At the end of 90 days (from ASM), begin work on a shareholder proposal in anticipation. Just begin work on it.

Then, at the end of their 120 days, which will be close to the 1 June proposal submittal drop dead date, see where we're at.

No results or results/actions in conflict with what they said at the AMS, proceed.

Satisfactory results and actions, at least generally in line with commitments of the AMS, put action on hold.

PPS over $2 - think long and hard.

JMHOs,

SGE