On March 24, 2016, Starboard Value LP issued a press release announcing that it has delivered to Yahoo! Inc., a formal nomination notice of its intention to seek the election of 9 director nominees: Bridget L. Baker, Tor R. Braham, Brad W. Buss, W. Lance Conn, Dale L. Fuller, Eddy W. Hartenstein, Richard (Rick) S. Hill, Debra A. Janssen, and Jeffrey C. Smith at the 2016 annual meeting. In addition, Starboard Value expressed its view that the Company is deeply undervalued and opportunities exist within the control of management and the Board of Directors to unlock significant value for the benefit of all shareholders.