Mario David Cibelli

Founded in 1983, Robotti Securities LLC is a registered broker/dealer located in New York City. The firm was formerly known as Robotti & Co. Inc. The firm is a Member of FINRA and the SIPC. Robotti Securities specializes in applying proprietary, bottom-up research methods to identify undervalued securities. They offer personalized investment management designed to meet clients’ long-term equity investment needs.

Marathon Partners Equity Management LLC (Marathon Partners) is an independent, SEC-registered investment advisor and hedge fund manager headquartered in New York City. The firm was founded by Mario D. Cibelli in 1997 as Cibelli Capital Management LLC. Marathon Partners provides discretionary investment advisory services to pooled investment vehicles intended for institutional and other sophisticated investors.

G.research (formerly known as Gabelli & Co., Inc.) is a registered institutional research and brokerage firm headquartered in Rye, New York and was founded in 1976. The firm is a subsidiary of Gabelli Securities, Inc. and their ultimate parent is GAMCO Investors, Inc. (NYSE: GBL). G.research has an emphasis on small and mid-cap ideas. Their core competencies include aerospace and defense, automotive aftermarket, food and beverage, gaming and lodging, industrials, media, specialty chemicals, telecom and utilities. They publish daily research notes and full reports utilizing their proprietary Private Market Value (PMV) with a Catalyst methodology.

Robotti & Co. Advisors LLC is a SEC-registered investment advisor headquartered in New York City. The firm was founded by Robert “Bob” Robotti in 2003 and is a wholly owned subsidiary of Robotti & Co., Inc. Robotti & Co. Advisors provides value investment strategies for high-net worth investors and small institutions.

Shutterfly LLC engages in the provision of retailer and manufacturing platform of personalized photos and services. Its products include photobooks, custom stationery including cards, announcements, invitations; home d?cor, and photo gifts. The company was founded by Dan Baum in December 1999 and is headquartered in San Jose, CA.