Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment No. 3)1
ACI Worldwide, Inc.
(Name of Issuer)
Common Stock, $0.005 par value
(Title of Class of Securities)
004498101
(CUSIP Number)
JEFFREY C. SMITH
STARBOARD VALUE LP
777 Third Avenue, 18th Floor
New York, New York 10017
(212) 845-7977
STEVE WOLOSKY, ESQ.
ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP
1325 Avenue of the Americas
New York, New York 10019
(212) 451-2300
(Date of Event Which Requires Filing of This Statement)
March 30, 2022
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ¨.
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.
1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 5,651,153 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
5,651,153 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
2 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
CAYMAN ISLANDS | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 2,903,486 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
2,903,486 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
2,903,486 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
2.5% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
CO |
3 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE AND OPPORTUNITY S LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 527,561 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
527,561 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
527,561 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
4 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE AND OPPORTUNITY C LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 315,500 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
315,500 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
315,500 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
5 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE R LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 315,500 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
315,500 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
315,500 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Le ss than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
6 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE R GP LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 562,885 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
562,885 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
562,885 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
7 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE AND OPPORTUNITY MASTER FUND L LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
CAYMAN ISLANDS | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 247,385 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
247,385 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
247,385 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
8 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE L LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 247,385 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
247,385 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
247,385 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
9 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD LEADERS CHARLIE II LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 229,063 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
229,063 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
229,063 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
10 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD LEADERS FUND LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 229,063 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
229,063 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
229,063 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
11 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE A LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 229,063 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
229,063 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
229,063 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
12 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE A GP LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 229,063 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
229,063 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
229,063 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
13 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD X MASTER FUND LTD | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
WC | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
CAYMAN ISLANDS | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 527,645 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
527,645 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
527,645 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
Less than 1% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
CO |
14 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD VALUE GP LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 5,651,153 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
5,651,153 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
15 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD PRINCIPAL CO LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 5,651,153 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
5,651,153 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
16 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
STARBOARD PRINCIPAL CO GP LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
DELAWARE | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 5,651,153 | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | - 0 - | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
5,651,153 | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
- 0 - | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
17 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
JEFFREY C. SMITH | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
USA | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | - 0 - | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 5,651,153 | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
- 0 - | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
IN |
18 |
CUSIP No. 004498101
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
PETER A. FELD | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☐ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | SOURCE OF FUNDS | ||||||||||||||||||
OO | |||||||||||||||||||
5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ☐ | |||||||||||||||||
6 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
USA | |||||||||||||||||||
NUMBER OF | 7 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | - 0 - | ||||||||||||||||||
OWNED BY | 8 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 5,651,153 | ||||||||||||||||||
PERSON WITH | 9 | SOLE DISPOSITIVE POWER | |||||||||||||||||
- 0 - | |||||||||||||||||||
10 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
5,651,153 | |||||||||||||||||||
12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | ||||||||||||||||||
4.9% | |||||||||||||||||||
14 | TYPE OF REPORTING PERSON | ||||||||||||||||||
IN |
19 |
CUSIP No. 004498101
The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 3”). This Amendment No. 3 amends the Schedule 13D as specifically set forth herein.
Item 2. | Identity and Background. |
Item 2 is hereby amended to add the following:
The address of the principal office of each of Messrs. Smith and Feld is c/o Starboard Value LP, 201 E Las Olas Boulevard, Suite 1000, Fort Lauderdale, Florida 33301. The officers and directors of each of Starboard V&O Fund and Starboard X Master and their principal occupations, business addresses and citizenships are set forth on Schedule A and are incorporated by reference in this Item 2.
Item 3. | Source and Amount of Funds or Other Consideration. |
Item 3 is hereby amended and restated to read as follows:
The Shares purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC, Starboard X Master, and held in the Starboard Value LP Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted, as set forth in Schedule B, which is incorporated by reference herein.
The aggregate purchase price of the 2,903,486 Shares beneficially owned by Starboard V&O Fund is approximately $74,128,842, excluding brokerage commissions. The aggregate purchase price of the 527,561 Shares beneficially owned by Starboard S LLC is approximately $13,404,902, excluding brokerage commissions. The aggregate purchase price of the 315,500 Shares beneficially owned by Starboard C LP is approximately $8,021,007, excluding brokerage commissions. The aggregate purchase price of the 247,385 Shares beneficially owned by Starboard L Master is approximately $6,286,731, excluding brokerage commissions. The aggregate purchase price of the 229,063 Shares beneficially owned by Starboard Charlie II LLC is approximately $6,866,896, excluding brokerage commissions. The aggregate purchase price of the 527,645 Shares beneficially owned by Starboard X Master is approximately $14,062,742, excluding brokerage commissions. The aggregate purchase price of the 900,513 Shares held in the Starboard Value LP Account is approximately $26,792,493, excluding brokerage commissions.
Item 4. | Purpose of Transaction. |
Item 4 is hereby amended to add the following:
Starboard Value LP (together with its affiliates, “Starboard”) believes the Issuer remains significantly undervalued in light of the substantial progress that has been made in improving growth and profitability. Starboard has undertaken the sales reported in this Amendment No. 3 as part of a broader rebalancing of Starboard’s portfolio, however, Starboard intends on remaining a large shareholder of the Issuer.
Item 5. | Interest in Securities of the Issuer. |
Item 5 is hereby amended and restated to read as follows:
The aggregate percentage of Shares reported owned by each person named herein is based upon 115,063,657 Shares outstanding, as of February 22, 2022, which is the total number of Shares outstanding as reported in the Issuer’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 24, 2022.
20 |
CUSIP No. 004498101
A. | Starboard V&O Fund |
(a) | As of the close of business on April 1, 2022, Starboard V&O Fund beneficially owned 2,903,486 Shares. |
Percentage: Approximately 2.5%
(b) | 1. Sole power to vote or direct vote: 2,903,486 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 2,903,486 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard V&O Fund during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
B. | Starboard S LLC |
(a) | As of the close of business on April 1, 2022, Starboard S LLC beneficially owned 527,561 Shares. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 527,561 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 527,561 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard S LLC during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
C. | Starboard C LP |
(a) | As of the close of business on April 1, 2022, Starboard C LP beneficially owned 315,500 Shares. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 315,500 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 315,500 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard C LP during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
D. | Starboard R LP |
(a) | Starboard R LP, as the general partner of Starboard C LP, may be deemed the beneficial owner of the 315,500 Shares owned by Starboard C LP. |
21 |
CUSIP No. 004498101
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 315,500 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 315,500 4. Shared power to dispose or direct the disposition: 0 |
(c) | Starboard R LP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Starboard C LP during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
E. | Starboard L Master |
(a) | As of the close of business on April 1, 2022, Starboard L Master beneficially owned 247,385 Shares. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 247,385 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 247,385 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard L Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
F. | Starboard L GP |
(a) | Starboard L GP, as the general partner of Starboard L Master, may be deemed the beneficial owner of the 247,385 Shares owned by Starboard L Master. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 247,385 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 247,385 4. Shared power to dispose or direct the disposition: 0 |
(c) | Starboard L GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Starboard L Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
G. | Starboard R GP |
(a) | Starboard R GP, as the general partner of Starboard R LP and Starboard L GP, may be deemed the beneficial owner of the (i) 315,500 Shares owned by Starboard C LP and (ii) 247,385 Shares owned by Starboard L Master. |
Percentage: Less than 1%
22 |
CUSIP No. 004498101
(b) | 1. Sole power to vote or direct vote: 562,885 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 562,885 4. Shared power to dispose or direct the disposition: 0 |
(c) | Starboard R GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of each of Starboard C LP and Starboard L Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
H. | Starboard Charlie II LLC |
(a) | As of the close of business on April 1, 2022, Starboard Charlie II LLC beneficially owned 229,063 Shares. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 229,063 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 229,063 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard Charlie II LLC during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
I. | Starboard Leaders Fund |
(a) | Starboard Leaders Fund, as a member of Starboard Charlie II LLC, may be deemed the beneficial owner of the 229,063 Shares owned by Starboard Charlie II LLC. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 229,063 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 229,063 4. Shared power to dispose or direct the disposition: 0 |
(c) | Starboard Leaders Fund has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Starboard Charlie II LLC during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
J. | Starboard A LP |
(a) | Starboard A LP, as the general partner of Starboard Leaders Fund and the managing member of Starboard Charlie II LLC, may be deemed the beneficial owner of the 229,063 Shares owned by Starboard Charlie II LLC. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 229,063 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 229,063 4. Shared power to dispose or direct the disposition: 0 |
23 |
CUSIP No. 004498101
(c) | Starboard A LP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Starboard Charlie II LLC during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
K. | Starboard A GP |
(a) | Starboard A GP, as the general partner of Starboard A LP, may be deemed the beneficial owner of the 229,063 Shares owned by Starboard Charlie II LLC. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 229,063 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 229,063 4. Shared power to dispose or direc t the disposition: 0 |
(c) | Starboard A GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares on behalf of Starboard Charlie II LLC during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
L. | Starboard X Master |
(a) | As of the close of business on April 1, 2022, Starboard X Master beneficially owned 527,645 Shares. |
Percentage: Less than 1%
(b) | 1. Sole power to vote or direct vote: 527,645 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 527,645 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
M. | Starboard Value LP |
(a) | As of the close of business on April 1, 2022, 900,513 Shares were held in the Starboard Value LP Account. Starboard Value LP, as the investment manager of Starboard V&O Fund, Starboard C LP, Starboard L Master, Starboard Charlie II LLC, Starboard X Master, and the Starboard Value LP Account and the manager of Starboard S LLC, may be deemed the beneficial owner of the (i) 2,903,486 Shares owned by Starboard V&O Fund, (ii) 527,561 Shares owned by Starboard S LLC, (iii) 315,500 Shares owned by Starboard C LP, (iv) 247,385 Shares owned by Starboard L Master, (v) 229,063 Shares owned by Starboard Charlie II LLC, (vi) 527,645 Shares owned by Starboard X Master and (vii) 900,513 Shares held in the Starboard Value LP Account. |
Percentage: Approximately 4.9%
24 |
CUSIP No. 004498101
(b) | 1. Sole power to vote or direct vote: 5,651,153 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,651,153 4. Shared power to dispose or direct the disposition: 0 |
(c) | The transactions in the Shares by Starboard Value LP through the Starboard Value LP Account and on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC and Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
N. | Starboard Value GP |
(a) | Starboard Value GP, as the general partner of Starboard Value LP, may be deemed the beneficial owner of the (i) 2,903,486 Shares owned by Starboard V&O Fund, (ii) 527,561 Shares owned by Starboard S LLC, (iii) 315,500 Shares owned by Starboard C LP, (iv) 247,385 Shares owned by Starboard L Master, (v) 229,063 Shares owned by Starboard Charlie II LLC, (vi) 527,645 Shares owned by Starboard X Master and (vii) 900,513 Shares held in the Starboard Value LP Account. |
Percentage: Approximately 4.9%
(b) | 1. Sole power to vote or direct vote: 5,651,153 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,651,153 4. Shared power to dispose or direct the disposition: 0 |
(c) | Starboard Value GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares by Starboard Value LP through the Starboard Value LP Account and on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC and Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
O. | Principal Co |
(a) | Principal Co, as a member of Starboard Value GP, may be deemed the beneficial owner of the (i) 2,903,486 Shares owned by Starboard V&O Fund, (ii) 527,561 Shares owned by Starboard S LLC, (iii) 315,500 Shares owned by Starboard C LP, (iv) 247,385 Shares owned by Starboard L Master, (v) 229,063 Shares owned by Starboard Charlie II LLC, (vi) 527,645 Shares owned by Starboard X Master and (vii) 900,513 Shares held in the Starboard Value LP Account. |
Percentage: Approximately 4.9%
(b) | 1. Sole power to vote or direct vote: 5,651,153 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,651,153 4. Shared power to dispose or direct the disposition: 0 |
(c) | Principal Co has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares by Starboard Value LP through the Starboard Value LP Account and on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC and Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
25 |
CUSIP No. 004498101
P. | Principal GP |
(a) | Principal GP, as the general partner of Principal Co, may be deemed the beneficial owner of the (i) 2,903,486 Shares owned by Starboard V&O Fund, (ii) 527,561 Shares owned by Starboard S LLC, (iii) 315,500 Shares owned by Starboard C LP, (iv) 247,385 Shares owned by Starboard L Master, (v) 229,063 Shares owned by Starboard Charlie II LLC, (vi) 527,645 Shares owned by Starboard X Master and (vii) 900,513 Shares held in the Starboard Value LP Account. |
Percentage: Approximately 4.9%
(b) | 1. Sole power to vote or direct vote: 5,651,153 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 5,651,153 4. Shared power to dispose or direct the disposition: 0 |
(c) | Principal GP has not entered into any transactions in the Shares during the past sixty days. The transactions in the Shares by Starboard Value LP through the Starboard Value LP Account and on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC and Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
Q. | Messrs. Smith and Feld |
(a) | Each of Messrs. Smith and Feld, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed the beneficial owner of the (i) 2,903,486 Shares owned by Starboard V&O Fund, (ii) 527,561 Shares owned by Starboard S LLC, (iii) 315,500 Shares owned by Starboard C LP, (iv) 247,385 Shares owned by Starboard L Master, (v) 229,063 Shares owned by Starboard Charlie II LLC, (vi) 527,645 Shares owned by Starboard X Master and (vii) 900,513 Shares held in the Starboard Value LP Account. |
Percentage: Approximately 4.9%
(b) | 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 5,651,153 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 5,651,153 |
(c) | None of Messrs. Smith or Feld has entered into any transactions in the Shares during the past sixty days. The transactions in the Shares by Starboard Value LP through the Starboard Value LP Account and on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard Charlie II LLC and Starboard X Master during the past sixty days are set forth in Schedule B and are incorporated herein by reference. |
(d) | N o person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares. |
26 |
CUSIP No. 004498101
(e) | As of April 1, 2022, the Reporting Persons ceased to beneficially own more than 5% of the outstanding Shares of the Issuer. |
The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.
27 |
CUSIP No. 004498101
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: April 1, 2022
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD By: Starboard Value LP, its investment manager
Starboard Value and Opportunity S LLC By: Starboard Value LP, its manager
Starboard Value and Opportunity C LP By: Starboard Value R LP, its general partner
Starboard Value and Opportunity Master Fund L LP By: Starboard Value L LP, its general partner
Starboard Value L LP By: Starboard Value R GP LLC, its general partner
STARBOARD VALUE R LP By: Starboard Value R GP LLC, its general partner
Starboard Leaders charlie ii LLC By: Starboard Value A LP, its managing member
Starboard LEADERS FUND LP By: Starboard Value A LP, its general partner
|
Starboard Value A LP By: Starboard Value A GP LLC, its general partner
Starboard X MASTER FUND LTD By: Starboard Value LP, its investment manager
STARBOARD VALUE LP By: Starboard Value GP LLC, its general partner
STARBOARD VALUE GP LLC By: Starboard Principal Co LP, its member
STARBOARD PRINCIPAL CO LP By: Starboard Principal Co GP LLC, its general partner
STARBOARD PRINCIPAL CO GP LLC
Starboard Value A GP LLC
Starboard Value R GP LLC |
By: |
/s/ Jeffrey C. Smith | |
Name: | Jeffrey C. Smith | |
Title: | Authorized Signatory |
/s/ Jeffrey C. Smith |
Jeffrey C. Smith |
Individually and as attorney-in-fact for Peter A. Feld |
28 |
CUSIP No. 004498101
SCHEDULE A
Directors and Officers of Starboard Value and Opportunity Master Fund Ltd and Starboard X Master Fund Ltd
Name and Position | Principal Occupation | Principal Business Address | Citizenship |
Patrick Agemian Director | Director of Global Funds Management, Ltd. |
PO Box 10034, Harbour Place 2nd Floor 103 South Church Street Grand Cayman Cayman Islands, KY1-1001 |
Canada |
Kenneth R. Marlin Director |
Chief Financial Officer, Starboard Value LP |
777 Third Avenue, 18th Floor New York, New York 10017 |
United States of America |
Alaina Danley Director |
Managing Director of Waystone Governance Ltd. |
Waystone Governance Ltd. Suite 5B201, 2nd Floor One Nexus Way P.O. Box 2587 Grand Cayman Cayman Islands, KY1-1103
|
Cayman Islands |
CUSIP No. 004498101
SCHEDULE B
Transactions in the Shares During the Past Sixty Days
Nature of the Transaction |
Amount of Securities Purchased/(Sold) |
Price ($) |
Date of Purchase/Sale |
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD
Sale of Common Stock | (8,611) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (26,203) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (30,211) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (14,360) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (25,689) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (25,689) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (7,498) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (20,449) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (206) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (51,379) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (51,379) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (10,276) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (63,542) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (66,587) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (2,774) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (12,845) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (12,845) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (2,573) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (28,566) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (1,511) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (38,426) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (1,013) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (12,905) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (11,817) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (83,779) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (70,600) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (15,174) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (126,016) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (2,672) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (23,835) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (387,887) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (69,707) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (103,425) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (256,893) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (46,820) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD VALUE AND OPPORTUNITY C LP
Sale of Common Stock | (936) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (2,847) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (3,283) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (1,560) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (2,791) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (2,791) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (815) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (2,222) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (22) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (5,583) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (5,583) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (1,117) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (6,905) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (7,236) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (302) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (1,396) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (1,396) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (280) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (3,104) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (164) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (4,175) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (110) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (1,402) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (1,284) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (9,103) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (7,672) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (1,649) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (13,693) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (290) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (2,590) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (42,149) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (7,574) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (11,239) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (27,915) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (5,088) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD VALUE AND OPPORTUNITY S LLC
Sale of Common Stock | (1,564) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (4,761) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (5,489) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (2,609) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (4,668) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (4,668) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (1,362) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (3,716) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (37) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (9,336) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (9,336) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (1,867) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (11,546) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (12,099) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (504) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (2,334) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (2,334) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (467) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (5,191) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (274) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (6,982) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (184) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (2,345) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (2,147) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (15,223) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (12,828) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (2,757) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (22,897) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (485) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (4,331) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (70,479) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (12,666) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (18,792) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (46,677) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (8,507) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD LEADERS CHARLIE II LLC
Sale of Common Stock | (679) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (2,067) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (2,383) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (1,133) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (2,027) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (2,027) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (592) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (1,613) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (16) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (4,053) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (4,053) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (811) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (5,013) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (5,253) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (219) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (1,013) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (1,013) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (203) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (2,254) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (119) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (3,032) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (80) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (1,018) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (932) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (6,610) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (5,570) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (1,197) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (9,942) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (211) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (1,880) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (30,602) | 31.8991 | 03/31/2022 |
Sale of Com mon Stock | (5,499) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (8,160) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (20,268) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (3,694) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD VALUE AND OPPORTUNITY MASTER FUND L LP
Sale of Common Stock | (734) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (2,233) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (2,574) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (1,224) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (2,189) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (2,189) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (639) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (1,742) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (18) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (4,377) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (4,377) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (875) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (5,414) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (5,673) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (236) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (1,094) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (1,094) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (219) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (2,434) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (129) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (3,274) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (87) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (1,100) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (1,007) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (7 ,139) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (6,015) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (1,293) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (10,737) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (228) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (2,031) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (33,049) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (5,939) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (8,812) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (21,888) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (3,989) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD X MASTER FUND LTD
Sale of Common Stock | (1,565) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (4,762) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (5,490) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (2,610) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (4,669) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (4,669) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (1,363) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (3,716) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (37) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (9,337) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (9,337) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (1,867) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (11,547) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (12,100) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (504) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (2,334) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (2,334) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (468) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (5,191) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (275) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (6,983) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (184) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (2,345) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (2,148) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (15,225) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (12,830) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (2,758) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (22,901) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (485) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (4,332) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (70,490) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (12,668) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (18,795) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (46,684) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (8,509) | 30.2815 | 04/01/2022 |
CUSIP No. 004498101
STARBOARD VALUE LP
(Through the Starboard Value LP Account)
Sale of Common Stock | (2,671) | 32.7893 | 03/09/2022 |
Sale of Common Stock | (8,127) | 32.0577 | 03/10/2022 |
Sale of Common Stock | (9,370) | 32.1950 | 03/11/2022 |
Sale of Common Stock | (4,454) | 32.1844 | 03/11/2022 |
Sale of Common Stock | (7,967) | 31.6202 | 03/14/2022 |
Sale of Common Stock | (7,967) | 31.5684 | 03/14/2022 |
Sale of Common Stock | (2,325) | 32.0080 | 03/15/2022 |
Sale of Common Stock | (6,342) | 31.7400 | 03/15/2022 |
Sale of Common Stock | (64) | 31.9850 | 03/15/2022 |
Sale of Common Stock | (15,935) | 32.6044 | 03/16/2022 |
Sale of Common Stock | (15,935) | 32.9499 | 03/17/2022 |
Sale of Common Stock | (3,187) | 33.2450 | 03/18/2022 |
Sale of Common Stock | (19,707) | 33.1794 | 03/18/2022 |
Sale of Common Stock | (20,652) | 33.2025 | 03/21/2022 |
Sale of Common Stock | (861) | 33.5665 | 03/21/2022 |
Sale of Common Stock | (3,984) | 33.5674 | 03/21/2022 |
Sale of Common Stock | (3,984) | 34.0850 | 03/22/2022 |
Sale of Common Stock | (798) | 33.4674 | 03/22/2022 |
Sale of Common Stock | (8,860) | 32.8250 | 03/23/2022 |
Sale of Common Stock | (468) | 32.7582 | 03/24/2022 |
Sale of Common Stock | (11,918) | 32.6755 | 03/24/2022 |
Sale of Common Stock | (314) | 32.7076 | 03/25/2022 |
Sale of Common Stock | (4,002) | 32.5581 | 03/25/2022 |
Sale of Common Stock | (3,665) | 32.4686 | 03/28/2022 |
Sale of Common Stock | (25,984) | 33.2022 | 03/29/2022 |
Sale of Common Stock | (21,896) | 33.0430 | 03/30/2022 |
Sale of Common Stock | (4,706) | 32.4135 | 03/30/2022 |
Sale of Common Stock | (39,083) | 32.6555 | 03/30/2022 |
Sale of Common Stock | (829) | 32.5400 | 03/31/2022 |
Sale of Common Stock | (7,392) | 32.3422 | 03/31/2022 |
Sale of Common Stock | (120,303) | 31.8991 | 03/31/2022 |
Sale of Common Stock | (21,620) | 31.8770 | 03/31/2022 |
Sale of Common Stock | (32,077) | 32.3132 | 03/31/2022 |
Sale of Common Stock | (79,675) | 30.2944 | 04/01/2022 |
Sale of Common Stock | (14,521) | 30.2815 | 04/01/2022 |