Andrew Shapiro, Founder, President and Portfolio Manager, Lawndale Capital Management, Inc
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This profile was last updated on 8/26/14 and contains information from public web pages and contributions from the ZoomInfo community.
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Founder, President and Portfolio ...

Local Address: Mill Valley, California, United States
Lawndale Capital Management, Inc
 
Background

Employment History

  • President
    Lawndale Capital Management, Inc

Board Memberships and Affiliations

Education

  • MBA
    UCLA's Anderson Graduate School of Management
  • JD
    UCLA School of Law
  • Bachelor of Science , Business Administration
    University of California-Berkeley's Haas School of Business
125 Total References
Web References
Andrew Shapiro on Equal ...
corpgov.net, 1 July 2014 [cached]
Andrew Shapiro on Equal Energy
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Andrew Shapiro
Guest Post: Andrew Shapiro is Founder, President and Portfolio Manager of Lawndale Capital Management, an investment advisor that has managed activist hedge funds focused on small- and micro-cap companies for over 21 years, one of the longest periods of experience deploying an activist/relational investment strategy today.
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Andrew Shapiro, President of Lawndale, stated, "We believe Lawndale's active involvement in this process contributed to the increased bids and minimal deal protection hurdles."
Shapiro added, "While we fail to understand why Equal's Board didn't have the company pursue a much higher-valued leveraged buyback alternative, Montclair and other potential bidders have had ample opportunity to put forth higher, firm fully-financed offers."
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Shapiro added, "The 'Golden Parachute' proposal garners our NO vote for more compelling reasons than what caused Equal's 'Say-On-Pay' vote to go down in flaming defeat at last year's Annual Meeting.
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acquisition, Andrew Shapiro, Equal Energy, Golden Parachute, Lawndale, Lawndale Capital Management, Montclair Energy, Petroflow Energy, proxy vote, sale, special meeting
Andrew Shapiro — Your Instructor at Small-Cap Investing Summit
www.valueconferences.com [cached]
Andrew Shapiro - Your Instructor at Small-Cap Investing Summit
Andrew Shapiro is Founder, President and Portfolio Manager of Lawndale Capital Management, an investment advisor that has managed activist hedge funds focused on small- and micro-cap companies for over 19 years, one of the longest periods of experience deploying an activist/relational investment strategy today. Andrew's proactive ownership approach has been effective in directly creating and unlocking shareholder value in Lawndale's portfolio companies and has contributed to Lawndale's activist funds often being ranked among the top event-driven and small-cap value funds in peer databases for long-term performance. In addition to leading Lawndale, Andrew has also served as a Director or Observer on portfolio company boards and debt and equity bankruptcy committees. Andrew is a member of the National Association of Corporate Directors (NACD) and, via Lawndale, has been a long-time Sustaining Member of the Council of Institutional Investors (CII).
Andrew has more than two decades of portfolio management and analytically varied experience from a number of "buy-side" positions, employing a rare combination of credit, legal and equity analytic and workout skills. Prior to founding the Lawndale organization in 1992, Andrew managed the workout and restructuring of large portfolios of high-yield bonds, distressed equities and risk arbitrage securities for the Belzberg family's entity, First City Capital. Before joining First City, Andrew was involved in numerous highly leveraged corporate acquisition and recapitalization transactions for both Manufacturers Hanover Trust and the Spectrum Group, a private equity firm.
Andrew received his JD degree from the UCLA School of Law where he was an Olin Fellow, an MBA from UCLA's Anderson Graduate School of Management where he was a Venture Capital Fellow and a BS in Business Administration from UC Berkeley's Haas School of Business, where he has taught finance courses and frequently guest lectures.
Andrew was recently selected to the 2012 NACD Directorship 100, a list of the most influential leaders in the boardroom and corporate governance community. He is often quoted on matters of corporate governance, fiduciary duty and activist investing and has been the subject of several articles, including a Business Week article in 2000 calling him "The Gary Cooper of Governance".
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Andrew is a Contributing Author at Seeking Alpha.
Andrew started Lawndale's funds in 1993 with only $188,000 under management and through performance and added capital has grown the firm's managed assets substantially.
Cross Border - Home / IR magazine / Events / Think Tanks / West Coast Think Tank 2010
www.thecrossbordergroup.com, 24 June 2010 [cached]
Andrew Shapiro, president, Lawndale Capital Management
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Andrew Shapiro
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Andrew Shapiro
Andrew Shapiro is founder, president and portfolio manager of Lawndale Capital Management, an investment advisor that has managed activist hedge funds focused on small and micro-cap companies for more than 17 years. His proactive ownership approach has been effective in creating and unlocking shareholder value in Lawndale's portfolio companies and it has helped Lawndale's activist funds rank among the top event-driven and small-cap value funds in peer databases for long-term performance.
He has also served as a director or observer on portfolio company boards and debt and equity bankruptcy committees. He frequently speaks at prestigious governance and regulatory forums on matters of corporate governance, fiduciary duty and activist investing. In 2000 a Business Week article called him the 'Gary Cooper of Governance'. He is also a member of the National Association of Corporate Directors (NACD) and Lawndale has been a long-time sustaining member of the Council of Institutional Investors (CII).
He received his JD from the UCLA School of Law, his MBA from UCLA's Anderson Graduate School of Management and his BS in business administration from UC Berkeley's Haas School of Business, where he has taught finance courses and frequently guest lectures.
Andrew E. Shapiro ...
www.sec.gov, 12 Sept 2003 [cached]
Andrew E. Shapiro
Each nominee is also a current director.Messrs.Belmonte, Dayan, Fell, LaFlamme, Romano and Shapiro are considered "independent directors" under the provisions of our by-laws described under the heading "Director Independence" below.
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Andrew E. Shapiro.Mr. Shapiro has been a director since 2002, is vice chairman of our board of directors, chairman of our corporate governance/nominating committee and a member of our compensation committee.Mr. Shapiro is the managing member and president of Lawndale Capital Management, LLC, an investment advisory firm specializing in small- and micro-cap 4 companies, and since 1992 chairman and president of a predecessor investment advisor, Lawndale Capital Management, Inc., which is now a private investment company.Mr. Shapiro has served as a board observer of Earl Scheib, Inc. since August 2002, and is a member of the National Association of Corporate Directors.
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Belmonte, Fell, LaFlamme, Romano and Shapiro satisfy the criteria.
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The vice-chairman of our board of directors, Mr. Shapiro, was elected to our board in September 2002 and elected as our independent vice-chairman in February 2003.Our audit, compensation and corporate governance/nominating committees are comprised solely of independent directors.
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Mr. Shapiro joined our board in September 2002, after the date of this meeting, and therefore did not receive this option award.
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The cash portion of the annual retainer remains at a rate of $9,000 per year paid monthly, except that Mr. Fell and Mr. Shapiro now receive cash retainer payments at an annual rate of $13,500 and $11,250, respectively, for serving as chairman and vice-chairman of the board, respectively.Non-employee directors will continue to be reimbursed for out-of-pocket expenses relating to attendance at board meetings.
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Fell and Shapiro, who will receive 9,000 and 7,500 shares of our common stock reflecting the same 50% and 25% increases described above, for serving as chairman and vice-chairman of the board, respectively.
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We also subsequently appointed Mr. Shapiro our new independent vice chairman.
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Andrew E. Shapiro
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Andrew E. Shapiro
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Mr. Shapiro is managing member of Lawndale Capital Management, LLC, the general partner and investment advisor to these partnerships.Lawndale Capital Management has only a pro-rata pecuniary interest in the securities with respect to which indirect beneficial ownership is reported and disclaims beneficial ownership in these securities, except to the extent of its pecuniary interest.Mr. Shapiro disclaims beneficial ownership of these shares.Both Lawndale Capital Management and Mr. Shapiro disclaim membership in any group in connection with the ownership of these securities.The address for each of Mr. Shapiro, Lawndale Capital Management LLC, Diamond A. Partners, L.P. and Diamond A. Investors, L.P. address is 591 Redwood Highway, Suite 2345, Mill Valley, California 94941. (4) Based on information filed on Form 4 dated December 11, 2002 and information we have received on sales of shares by Mr. Holtz since that date.
Andrew Shapiro, President of ...
www.prnewswire.com, 10 Dec 2013 [cached]
Andrew Shapiro, President of Lawndale, stated, "Proponents of transactions often try to argue the strength or 'fairness' of their bid by highlighting a purported 'premium' they are offering to pre-offer 'trading' prices.  Price premium to historical trading is the weakest and most flawed measure of 'fairness.' Especially in small companies, pre-bid trading takes place in an inefficient vacuum, without any expectation of a definitive transaction or even a sleepy board and management being woken up.  Thus, such 'trading' levels are very poor proxy to base an appropriate premium for transfer of a company's control."
Shapiro added, "We think better measures for fair takeover and change of control value are tested against net present value of discounted cash flows and/or valuation multiples to assets or prospective cash flows.
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Shapiro said, "Instead of focusing on price 'premiums,' we believe Equal's disclosure to shareholders, should have, and must, in the near future, detail the scope and extent of the bidding process along with Equal's reserves and production forecast provided to Petroflow.  Furthermore, Equal needs to provide to its shareholders, all the strategic alternatives considered and not considered, along with rationale for their rejection.  Finally, Equal should broadly disseminate how any interested alternative bidders may 'top' the agreed purchase price, rather than highlighting the impediments for such a superior bid that would provide greater value."
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Andrew Shapiro, 415-389-8258 or aeshapiro@lawndalecap.com
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