Ethan Allen investor launches proxy fight with five nominees

Doug Bergeron, a significant investor in Ethan Allen Interiors Inc., has initiated a proxy fight aimed at electing five new directors to the company's board for the 2026 annual meeting. Bergeron holds roughly 5.2% of the company's shares through affiliated entities and has submitted a definitive proxy statement to the Securities and Exchange Commission to garner shareholder support for his nominees. He is urging shareholders to cast their votes using a standardized white proxy card.

In his letter, Doug Bergeron highlights a prolonged period of declining revenue, profitability, and shareholder value at Ethan Allen Interiors. He challenges the board's stance that continuity is the preferred path for the company’s future. Bergeron has prepared an accountability matrix that contrasts the performance records of the incumbent directors with those of his five proposed nominees, emphasizing their qualifications for the board.

The materials reveal that Ethan Allen faces an eroding earnings base and an aging customer demographic. Bergeron proposes a plan to restore profitable growth while preserving a consistent dividend policy. He warns that the company's recovery is becoming increasingly challenging and expensive. Additional campaign materials, including video interviews with the five director candidates, are accessible through a designated website for the proxy contest.

Bergeron's campaign materials, including a press release, have been submitted to the SEC by DGB Investment, Inc. and Douglas G. Bergeron, along with other participants in their solicitation. Okapi Partners LLC is serving as the proxy solicitor for this campaign. Stockholders can freely access the definitive proxy statement and related documents through the SEC’s website or by contacting the proxy solicitor.