Former CEO Ganz's Board Candidate Matt McBrady Added to Byrna Slate
BYRN sits 18% above its 52-week low of $3.165.
Summary
Former CEO Bryan Ganz's activist campaign has yielded a board concession: one of his two proposed candidates, Matt McBrady, will join Byrna's proposed board slate. Ganz supports the slate, marking a potential truce in the board overhaul fight.
Key Events · Executive and Board Changes · BYRN
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Board Adds Ganz Candidate Matt McBrady
The Byrna Board has decided to bring Matt McBrady, one of two candidates proposed by former CEO Bryan Ganz, onto the Board and include him in the proposed slate for the upcoming shareholders meeting.
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McBrady's Axon Track Record
McBrady served as a director of Axon (TASER) from 2001 to 2014 and again from late 2016 through early 2026, during which Axon's sales grew from approximately $200 million to over $3.2 billion and its stock appreciated 25-fold.
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Ganz Supports Proposed Slate
In accordance with his employment agreement amendment, Ganz supports the Board's proposed slate, signaling a potential de-escalation of his activist campaign.
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Second Candidate Not Included
Ganz is disappointed the Board did not include his second, similarly qualified candidate on the proposed slate, but hopes the Board will reconsider in the near future.
Analysis · BYRN · Manufacturing
Former CEO Bryan Ganz, who holds a 9.6% stake, has succeeded in getting one of his two proposed board candidates — Matt McBrady, a former Axon (TASER) director — onto Byrna's proposed board slate for the upcoming shareholders meeting. This is a material development in the ongoing board overhaul push Ganz has been waging since July. McBrady brings deep less-lethal industry experience, having served on Axon's board during its transformation from a weapons company to a SaaS-driven solutions provider, during which Axon's sales grew from roughly $200 million to over $3.2 billion. Ganz supports the proposed slate, signaling a potential de-escalation of the activist campaign, though he remains disappointed the Board did not include his second candidate.
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At the time of this filing, BYRN was trading at $3.72 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $85M. The 52-week trading range was $3.17 to $30.62. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.