BIRMINGHAM, Ala., June 15, 2026 (GLOBE NEWSWIRE) -- Forager Capital Management (“Forager”), the largest stockholder of Repay Holdings Corporation (NASDAQ: RPAY), with beneficial ownership of approximately 13% of the issued and outstanding shares, issued the following statement to the Board:
“Repay’s directors just suffered an extraordinary stockholder rebuke.
Despite facing no opposing candidates, every Repay director ranked in the bottom 1% of stockholder support among the 17,000+ Russell 3000 director-elections during the 2025-2026 proxy season. Said differently, 99 out of every 100 directors received greater stockholder support than Repay’s directors.
Withhold votes at Repay’s June 10, 2026 Annual Meeting:
Paul Garcia – 36%
Maryann Goebel – 36%
Pete Kight – 37%
John Morris – 36%
Emnet Rios – 36%
Richard Thornburgh – 37%
Most boards in corporate America never have a single director receive this level of opposition. Repay had six.
Any board with even minimal respect for its owners would treat these results as a mandate for immediate engagement. Instead, Paul Garcia, Maryann Goebel, Pete Kight, Emnet Rios, and Richard Thornburgh continue to weaponize the discretion afforded by the business judgment rule to avoid accountability to stockholders. They held a perfunctory 14-minute annual meeting, dodged the one question stockholders wanted answered, and waited until market close on Friday to bury the election results.
What more could stockholders possibly say before this Board stops hiding behind technicalities and substantively engages regarding our 75% premium proposal?”
Contact: 205-383-4763 info@foragercap.com
