On May 17, 2024, Xperi Inc announced that it has sent a letter to shareholders, the Company reaffirmed the mid-range targets announced at Company?s September 2022 Investor Day and confirmed the Board?s plan to expand the Board and regularly review the Company?s compensation program to ensure it is consistent with market practice and aligned with investor interests in long-term performance, and the Company stated that one of the Company?s shareholders is seeking to replace half the independent directors with the former CEO of one of its predecessor companies and his former colleague, and the Company believes electing them in place of its engaged and experienced directors would slow the Company?s momentum and lead to the loss of critical skills on the Board. In addition, the Company stated that independent proxy advisory firms, Institutional Shareholder Services and Glass, Lewis & Co., reviewed its performance, plans and director candidates and have recommended that shareholders vote for all Company nominees at the 2024 annual meeting of shareholders. Further, the Company urged the shareholders to vote for its board nominees and a withhold vote on all other candidates, at the 2024 annual meeting of shareholders scheduled to be held on May 24, 2024.