RT Amy (@_SFTahoe)TESLA BOARD OF DIRECTORSShareholders must protect Tesla. The Tesla Board is critical to the company's success. Engaging with institutional investors prior to key votes is one of many vital, yet often unappreciatedcontributions. Those with overt political motivations want to stack the board & steal Tesla from Elon Musk.SHAREHOLDER ACTION REQUIREDVoting for the incentive plan is essential to safeguarding Tesla, but it is INSUFFICIENT on its own. Investors must ALSO vote this year—and EVERY Y ...

Financial Data and Key Metrics Changes - The company anticipates that Resolution 1, which involves reviewing the financial statements for the year ended March 31, 2025, will be approved by shareholders based on proxy votes received prior to the AGM [6][7] - Preliminary second quarter results announced in October reflect strong performance in the deck, rail, and accessory segment, indicating continued progress towards realizing substantial cost and revenue synergies from the ASIC integration [19] Business Line Data and Key Metrics Changes - The company is focused on executing strategic growth plans and realizing the potential of its combination with ASIC Company Incorporated, which is expected to drive long-term growth in the building products industry [19] Market Data and Key Metrics Changes - The company acknowledges the dynamic nature of the building products industry and is poised to drive long-term growth and success through its comprehensive portfolio of leading exterior brands and a powerful manufacturing and support network [19] Company Strategy and Development Direction - The board is committed to delivering strong strategic leadership and engaging constructively with shareholders to reflect on feedback received [5][20] - The company aims to take the right steps to drive shareholder value while recognizing the need for further work to fulfill promises to shareholders [19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the board's actions in the best interests of shareholders and emphasized the importance of accountability in executing plans for long-term outperformance [5][20] - The board thanked shareholders for their engagement and support, indicating a solid foundation for continued accountability [20] Other Important Information - Resolutions related to the remuneration report and the grant of stock units to the CEO are expected to not receive sufficient support based on proxy votes, prompting the board to engage with shareholders for feedback [7][11][14] - The company’s external auditors, Ernst & Young LLP, are deemed to be reappointed until the conclusion of next year's AGM [18] Q&A Session Summary Question: Are there any other items of business or proposals made by shareholders? - The Company Secretary confirmed that there are no other items of business or proposals made by shareholders or proxy holders [17]

Well, there is no other person uh that is Elon. Uh we think that he is the right leader for um the company over this next uh decade um in delivering the plan and the opportunities ahead of us. So it's about how do we uh create the most value for the company and for our shareholders over this next period of time and he he is the right leader for us over this next decade.Is a performance package. Uh so he gets nothing if he doesn't perform against the the pretty um audacious milestones that are part of the um ...

Financial Performance - The company's net income for 3Q25 was $106.0 million, resulting in diluted earnings per share of $1.54[22] - The company's return on average assets (ROA) was 1.56% for 3Q25[22] - The company's return on average tangible common equity (ROTCE) was 14.57% for 3Q25[22] - The company's net interest margin (NIM) improved by 3 basis points to 3.80% in 3Q25[22] - The company's efficiency ratio improved to 49.19% in 3Q25[22] Balance Sheet and Capital - The company's tangible book value (TBV) grew by $1.58 per share to $42.90 at the end of 3Q25, representing an annualized growth rate of 15.2%[22] - The company's CET1 ratio was 13.2% at the end of 3Q25[13] - Noninterest-bearing deposits remained strong, representing 30.4% of total deposits as of September 30, 2025[22] Loan Portfolio and Credit Quality - The company's loan portfolio totaled $21.3 billion in 3Q25[56] - The company's allowance for credit losses (ACL) on loans was 1.62% of total loans in 3Q25[13] - The company's net charge-offs were stable at 0.14% annualized in 3Q25[22] Market Position and Growth - The company's Southeast markets are projected to grow approximately 1.7x the national average over the next five years[13]

Core Viewpoint - Carronade Capital is advocating for significant changes in Cannae Holdings' governance and board composition, citing a history of poor performance and governance failures that necessitate the election of independent directors to restore shareholder value [1][2][4]. Group 1: Governance Issues - Cannae's board has been accused of manipulating corporate governance to limit shareholder voting rights and has a history of poor governance practices, including affiliated party transactions and inadequate performance [2][4]. - The board's decision to reincorporate from Delaware to Nevada is viewed as a tactic to deprive shareholders of their voting rights [2]. - Carronade Capital highlights the need for independent directors to ensure accountability and represent shareholder interests effectively [5][12]. Group 2: Performance Metrics - Cannae has delivered a negative total shareholder return of -5.2% since its spin-out in 2017, significantly underperforming compared to its peers and the broader market [8]. - Over the past three years, Cannae has traded at an average discount of -37% to its Net Asset Value (NAV) per share, indicating a lack of investor confidence [8][9]. - The company has consistently underperformed relative to its self-selected proxy peers and the Russell 2000 Index Financials, with returns of -21%, -28%, and -37% over the past 1, 3, and 5 years, respectively [8][9]. Group 3: Proposed Changes - Carronade Capital is nominating four independent candidates for Cannae's board, believing their election could lead to a potential share price increase of over 50% within the next year [7][15]. - The proposed changes include a commitment to return more capital to shareholders, reduce corporate overhead costs, and align management incentives with shareholder interests [15][17]. - Carronade Capital emphasizes the need for a new governance structure, including a refreshed leadership for the Related Person Transaction Committee and the establishment of a Strategic Review Committee [17].

Core Viewpoint - Carronade Capital is advocating for significant changes in Cannae Holdings' governance and board composition, emphasizing the need for independent directors to enhance shareholder accountability and restore value [2][3][4]. Group 1: Shareholder Engagement and Accountability - Carronade Capital, a major shareholder of Cannae, has nominated four independent candidates for the board to address perceived governance failures and enhance shareholder value [2][4]. - The current board's actions, including the reincorporation from Delaware to Nevada, are viewed as attempts to manipulate corporate governance and deprive shareholders of their voting rights [3][5]. - Carronade Capital has expressed dissatisfaction with the board's performance, citing a history of poor governance practices and a lack of accountability [6][12]. Group 2: Financial Performance and Value Creation - Cannae has delivered a negative total shareholder return of -5.2% since its spin-off in 2017, significantly underperforming compared to market peers [9][12]. - The company's shares have traded at an average discount of -37% to its Net Asset Value (NAV) over the past three years, indicating a lack of investor confidence [9][12]. - Carronade believes that the election of its nominees could lead to a potential share price upside of over 50% within the next year through strategic initiatives [8][20]. Group 3: Proposed Changes and Initiatives - Carronade Capital proposes a series of initiatives aimed at returning capital to shareholders, reducing costs, and enhancing governance practices [20][21]. - The addition of independent directors is seen as crucial for ensuring accountability and driving necessary changes within the board [18][20]. - Carronade emphasizes the need for a clear investment strategy and timely return of capital to restore credibility and narrow the NAV discount [20][21].

Core Insights - Five Star Bancorp reported a net income of $16.3 million for Q3 2025, an increase from $14.5 million in Q2 2025 and $10.9 million in Q3 2024 [1][10][11] Financial Performance - Return on average assets (ROAA) improved to 1.44% in Q3 2025 from 1.37% in Q2 2025 and 1.18% in Q3 2024 [2][12] - Return on average equity (ROAE) increased to 15.35% in Q3 2025 from 14.17% in Q2 2025 and 11.31% in Q3 2024 [2][12] - Pre-tax income rose to $22.2 million in Q3 2025, up from $20.1 million in Q2 2025 and $15.2 million in Q3 2024 [2][12] - Basic and diluted earnings per share were both $0.77 in Q3 2025, compared to $0.68 in Q2 2025 and $0.52 in Q3 2024 [2][12] Loan and Deposit Growth - Total loans held for investment increased by $129.2 million, or 3.44% (13.76% annualized), reaching $3.887 billion as of September 30, 2025 [3][7] - Total deposits rose by $208.8 million, or 5.36% (21.45% annualized), totaling $4.103 billion [3][7] - Non-wholesale deposits increased by $359.0 million, or 11.09% (44.34% annualized), while wholesale deposits decreased by $150.2 million, or 22.87% [3][8] Interest Income and Margin - Net interest income for Q3 2025 was $39.3 million, a 7.76% increase from $36.5 million in Q2 2025 and a 29.49% increase from $30.4 million in Q3 2024 [12][21] - Net interest margin improved to 3.56% in Q3 2025, up from 3.53% in Q2 2025 and 3.37% in Q3 2024 [12][21] Cost and Efficiency - Cost of funds decreased to 2.51% in Q3 2025 from 2.53% in Q2 2025 [4][12] - Efficiency ratio improved to 40.13% in Q3 2025 from 41.03% in Q2 2025 and 43.37% in Q3 2024 [4][12] Asset Quality - The ratio of nonperforming loans to loans held for investment decreased to 0.05% as of September 30, 2025, down from 0.06% at June 30, 2025 [9][26] - The allowance for credit losses was $42.1 million, representing 1.08% of loans held for investment [25][27] Non-Interest Income - Non-interest income increased by $0.2 million to $1.966 million in Q3 2025, primarily due to an increase in loan-related fees [12][28]

The S&P 500 index of blue-chip stocks has risen by 14% this year, creating nearly $8trn in shareholder value. But the foot-down frenzy is not confined to AI https://t.co/JFVsSG6rJHIllustration: Brett Ryder https://t.co/5RU7HKC5y2 ...

Tesla's in a transformative stage at this point in time where um we're leaning in very heavily to the um uh AI space in terms of both uh the vehicles in terms of FSD but also in terms of Optimus and and the robots as you can see here in New York today. And so for us it's uh we sat back as a board and actually determined that this is the right time to lean into um that transformation and for Elon to lead that transformation. And uh we then formed a special committee to actually determine what the right incen ...

Corporate Governance & Shareholder Value - Tesla shareholders are urged to be vigilant against groups attempting to control Elon Musk [1] - The current Tesla board is considered highly successful in maximizing shareholder value [2] - Special interests may attempt to stack the Tesla board with members who prioritize control over Tesla's mission and technology [2] - Voting against sitting Tesla board members is portrayed as detrimental to Tesla's success [3] - Stacking the board is likened to Apple's mistake of firing Steve Jobs [4] Strategic Recommendations - Shareholders are advised to vote with the board's recommendations and for the xAI investment [5] - Shareholders must ensure their shares are voted in all accounts to prevent a power grab [5]