Proxy Advisors Split: Egan-Jones Backs Garg's Board Takeover, Glass Lewis Sides with Incumbents
BETR is trading near its 52-week low of $11.111 (11% above the low).
Summary
Egan-Jones became the first major proxy advisor to recommend shareholders vote FOR Garg's board takeover, while Glass Lewis recommended revoking consent. Garg set a new target date of September 18, 2026 for submitting written consents.
Key Events · Corporate Governance and Compliance · BETR
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Egan-Jones Recommends FOR Garg's Proposals
Egan-Jones Proxy Services recommended shareholders vote FOR both of Garg's proposals on the GREEN consent card, including removal of five directors. It cited Better's 14% TSR over two years as the only positive return in its peer group and questioned the Board's rationale for removing Garg.
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Glass Lewis Recommends Revoking Consent
Glass Lewis recommended shareholders revoke consent against Garg's campaign, but its report also highlighted concerns with the leadership transition process, Daniel Lewis' suitability as interim CEO, and the Board's adoption of a Rights Plan and pursuit of emergency injunctive relief.
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Updated Consent Submission Deadlines
Garg Group set an updated target date of September 18, 2026 for submission of written consents in the Glass Lewis press release, later revised to October 2, 2026 in the Egan-Jones press release.
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Garg Describes Vote-Counting Process
In a social media video, Garg stated that Broadridge will deliver votes to an agent hired by the company, and once the 50% barrier is certified, the five directors will need to resign.
Analysis · BETR · Finance
The proxy advisor landscape has split, and that matters for the consent solicitation's trajectory. Egan-Jones recommended shareholders vote FOR Garg's proposals to remove five directors, while Glass Lewis recommended revoking consent. This marks the first time a major proxy advisor has supported Garg's campaign, coming after Glass Lewis and ISS both sided with the incumbent board. The split recommendation materially changes the dynamics, as Garg now has an independent third-party endorsement to counter the board's narrative. The filing also reveals Garg has set a new target date of September 18, 2026 (later revised to October 2, 2026) for submitting written consents, indicating the campaign is still active and approaching a critical vote-counting milestone.
How filings like this one have moved
In the 30 days to Oct 5, 2026, 36.9% of the 964 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.65%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BETR was trading at $12.36 on NASDAQ in the Finance sector, with a market capitalization of approximately $235M. The 52-week trading range was $11.11 to $94.06. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.