Sabre Corporation entered into a Strategic Governance Agreement with Constellation Parties on March 5, 2026, agreeing to appoint Damian McKay as a director and nominate him at the 2026 Annual Meeting, while Constellation agreed to standstill and voting restrictions. The Company amended its Rights Agreement to expire on March 6, 2026, and will eliminate Series B Preferred Stock.
Key takeaways
Entered Strategic Governance Agreement with Constellation Canadian Holdings Inc. and Constellation Software Inc. on March 5, 2026
Appointed Damian McKay, age 54, as independent director effective within 10 business days, to serve until 2026 Annual Meeting
Appointed Damian McKay to Technology Committee of the Board
Amended Rights Agreement dated March 1, 2026 to accelerate Final Expiration Date to March 6, 2026
Constellation Parties standstill: no more than 15% beneficial ownership and economic exposure during Specified Period
Constellation to vote consistent with Board recommendations during Specified Period, with exceptions
Will file Certificate of Elimination for Series B Preferred Stock after Rights expiration