Tabula Rasa HealthCare, Inc.(R) announced a cooperation agreement with Indaba Capital Management, L.P. ("Indaba"), the Company's stockholder with an approximately 25% equity stake. Pursuant to the cooperation agreement, the composition of the Board of Directors (the "Board") will be amended as follows:
Calvin H. Knowlton and Orsula V. Knowlton will retire from the Company and step down from the Board, effective immmmediately. Derek Schrier and Jonathan D. Schwartz have been appointed to the Board of Directors, effective immediately. Michael Purcell has been appointed Independent Chair of the Board, effective immediately. A. Gordon Tunstall will step down as Lead Independent Director, effective immediately, and will retire from the Board upon the earlier of the
appointment of a third, new independent director who will be identified by Indaba and the end of the year.