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  "documentTitle": "Mellanox Technologies, Ltd. (MLNX)",
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  "authorName": "Peter A. Feld",
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  "notes": "This is an activist investor letter from Starboard Value to Mellanox Technologies.",
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      "text": "In fact, no director or member of senior management has purchased a single share of stock in the open market since 2013.",
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      "text": "insider sales: $130 million",
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      "text": "We are writing to express our concern about the pattern of insider selling by the current Board of Directors (the “Board”) and management team – a pattern that has continued for years and has recently intensified. While we appreciate the need and desire for company officers to sell some stock over time, the frequency and magnitude of insider selling at Mellanox is staggering and among the most one-sided we have ever seen. It raises serious questions as to both the level of commitment that the Board has to the Company and the level of confidence the Board has in management’s operating plan.",
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      "text": "Since the Company’s IPO in 2007, there have been more than 370 sales of stock by the current management team and Board, equating to approximately $130 million in proceeds. Over that period, there has been just a single open market purchase. In fact, no director or member of senior management has purchased a single share of stock in the open market since 2013.",
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      "text": "As you know, Starboard Value LP (together with its affiliates, “Starboard”) currently has a beneficial ownership interest of approximately 10.7% of the outstanding common stock of Mellanox Technologies, Ltd. (“Mellanox” or the “Company”), making us the Company’s largest shareholder.",
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      "text": "This figure is based on BamSEC categorizations, which generally group multiple transactions reported on a single Form 4 as a single event, even when said Form 4 includes multiple transactions. If each individual transaction were counted separately, this number would be significantly higher than 370.",
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