Pershing Squre discloses amended stake; reaches agreement on new Board member - filing
The Reporting Persons (as defined below) beneficially own 41,823,145 shares of Common Stock (the Subject Shares). The number of shares of Common Stock beneficially owned by the Reporting Persons has not changed since the date this Schedule 13D was initially filed. However, the Issuer has repurchased shares of Common Stock since that date and, solely as a result of those repurchases, the Subject Shares now represent a higher percentage of the outstanding shares of Common Stock than reported in that initial filing. Specifically, the Subject Shares now represent approximately 8.4% of the shares of Common Stock outstanding, based on 500,664,819 shares of Common Stock outstanding as of March 6, 2015 as reported in the Issuers Definitive Proxy Statement filed on March 20, 2015.
Pursuant to the February 3 Letter Agreement referred to in Item 6, the Issuer and Pershing Square have identified Paul M. Bisaro as a mutually agreeable additional independent director to be added to the Issuers board of directors and its Compensation Committee immediately after the Issuers 2015 annual meeting. The Issuer and Pershing Square confirmed this in a letter dated April 10, 2015 (the April 10 Letter), a copy of which is filed herewith as Exhibit 99.10 and is incorporated herein by reference.