A 13D filing with the SEC has revealed some information regarding the recent appointment of Dan Friedberg of Sagard Capital to the board of directors of Performance Sports Group Ltd (NYSE:PSG), which was revealed in a press release on March 28.
Item 4 of the filing was updated with information related to the board appointment, which included the following section:
“Pursuant to the terms of the Agreement, on March 28, 2016, Mr. Friedberg was appointed to the Board. He also was appointed to the Corporate Governance and Nominating Committee and the Compensation Committee of the Board. In addition, the Issuer has agreed to include Mr. Friedberg in its slate of nominees for election to the Board at the 2016 Annual Meeting (as defined below) and to use its commercially reasonable efforts to cause Mr. Friedbergs election, including recommending that the Issuers shareholders vote in favor of Mr. Friedbergs election to the Board. Pursuant to the terms of the Agreement, the Issuers slate of nominees for the 2016 Annual Meeting will include all of the incumbent members of the then-current Board (as long as they are willing to serve).”
Sagard Capital is the largest shareholder of Performance Sports Group, owning just over 15% of the company’s shares, 6.86 million in total, unchanged since a filing on March 15, but well up from the 951,289 shares the fund reported ownership of as of the end of December. A maker of sports equipment including products for the Bauer and Easton brands, PSG was in the portfolios of nine of the hedge funds tracked by Insider Monkey on December 31.
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Sagard Capital Partners||0||6,862,688||0||6,862,688||6,862,688||15.1%|
|Sagard Capital Partners GP, Inc||0||6,862,688||0||6,862,688||6,862,688||15.1%|
|Sagard Capital Partners Management Corp||0||6,862,688||0||6,862,688||6,862,688||15.1%|
Page 1 of 6 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Performance Sports Group Ltd.
(Name of Issuer)
Common Shares, no par value
(Title Class of Securities)
Sagard Capital Partners, L.P.
325 Greenwich Avenue
Greenwich, CT 06830
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 28, 2016
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).