Eagle Bancorp in Bethesda, Md., tossed out three board nominees proposed by activist investor Diligence Capital Management.
The company disclosed in a regulatory filing that it invalidated the nominees, along with four shareholder proposals from Diligence, because the investor’s notice failed to comply with its amended bylaws. Eagle also said that Diligence was not a shareholder of record.
Diligence owns less than 0.1% of Eagle outstanding stock.
Separately, Eagle said it had nominated Trevor Montano to join its board. Montano, founder of private investment firm West Potomac Capital, previously served as the Treasury Department’s chief investment officer.