Sign in

    Andrew Shapiro

    Research Analyst at Lawndale Capital Management

    Andrew Shapiro is the Founder and President of Lawndale Capital Management, specializing in activist and relational hedge fund investing in small and micro-cap companies across a diverse range of industries. Over a career spanning more than 35 years, he has led high-impact activist campaigns—such as his work with Premier Exhibitions/RMS Titanic—serving on or advising numerous public and private company boards, bankruptcy committees, and early-stage startups like VideoXRM and Miravel Inc. Shapiro founded Lawndale Capital Management in 1993 and managed its funds for over three decades following earlier experience in credit, legal, bankruptcy, risk arbitrage, and leveraged buyouts, and he holds both a JD and MBA from UCLA and a BS in Business from UC Berkeley. His professional achievements include a place on the 2012 NACD Directorship 100 list, faculty roles at UCLA Anderson, and extensive contributions to corporate governance and board education.

    Andrew Shapiro's questions to ORION ENERGY SYSTEMS (OESX) leadership

    Andrew Shapiro's questions to ORION ENERGY SYSTEMS (OESX) leadership • Q3 2025

    Question

    Asked for clarification on the management and board pay cut, an update on the company's NASDAQ listing status and compliance plan, and the timing for any potential shareholder action like a reverse split.

    Answer

    The company confirmed the 10% pay cut is a permanent 'give-up,' not a deferral. Regarding the NASDAQ listing, the initial 180-day compliance period ends in mid-March, after which they will likely apply for a 180-day extension. The plan to regain compliance is currently based on business execution, with other options subject to future evaluation. A shareholder vote on a reverse split would likely be considered for the annual meeting in August.

    Ask Fintool Equity Research AI