Allbirds (BIRD) Proxy Filing summary

Executive summary

• Special Meeting scheduled for August 13, 2024, to be held virtually for shareholder convenience and cost savings.

• Two main proposals: a reverse stock split amendment and potential adjournment to solicit more proxies if needed.

• The reverse stock split aims to regain compliance with Nasdaq's minimum bid price requirement.

• Board recommends approval of both proposals and retains discretion on the exact split ratio and implementation.

Voting matters and shareholder proposals

• Proposal 1: Approve an amendment to effect a reverse stock split of Class A and Class B Common Stock at a ratio between 1:10 and 1:50, with the exact ratio set by the Board.

• Proposal 2: Approve adjournment of the meeting if more time is needed to solicit votes for the reverse stock split.

• No other proposals are scheduled for a vote at the Special Meeting.

• Board recommends voting “FOR” both proposals.

Board of directors and corporate governance

• Board has full discretion to determine the reverse split ratio and whether to implement the split after shareholder approval.

• Board may abandon the reverse split if deemed not in the best interests of the company or shareholders.

• Board and management will answer relevant shareholder questions during the virtual meeting.