Steel Partners (SPLP) Proxy Filing summary

Executive summary

• The annual meeting will be held virtually in 2025, with voting on five key proposals including director elections, executive compensation, auditor ratification, and a tax benefits protection extension.

• Unitholders can vote online, by phone, or by mail, and each common unit has one vote; preferred units have limited voting rights.

• Proxy materials are distributed electronically to reduce environmental impact and costs.

Voting matters and shareholder proposals

• Proposals include electing five independent directors, an advisory vote on executive compensation, a vote on the frequency of future say-on-pay votes, ratification of Deloitte as auditor, and a three-year extension of tax benefits protection.

• The board recommends voting for all director nominees, for executive compensation, for annual say-on-pay votes, for auditor ratification, and for the tax benefits extension.

• Shareholders may submit proposals and director nominations for the 2026 meeting, subject to advance notice and eligibility requirements.

Board of directors and corporate governance

• The board consists of seven members, five elected by unitholders and two appointed by the manager.

• Five directors are independent under NYSE rules; all board committees are composed solely of independent directors.

• The board combines the roles of chairman and CEO for enhanced oversight and communication.

• Committees include Audit, Compensation, and Corporate Governance/Nominating, each with defined charters and responsibilities.

• The company has adopted a code of ethics, corporate governance guidelines, and insider trading policy.