Forager Capital to vote against REPAY board nominees

Forager Capital Management, which holds approximately 13% of Repay Holdings Corporation (NASDAQ: RPAY), announced it intends to vote against all director nominees at the company's June 10, 2026 annual meeting.

The investment firm stated it will withhold votes for directors Paul Garcia, Maryann Goebel, Pete Kight, Emnet Rios, and Richard Thornburgh. Forager described itself as Repay's largest stockholder in the announcement.

The firm criticized the board's handling of what it described as a "75% premium all-cash proposal," stating the directors "refused substantive engagement" with the offer. Forager said the board chose governance approaches that limited shareholder input while increasing board control.

Forager noted that Repay stockholders have lost approximately 85% of their capital over the past five years. The firm characterized the board's governance pattern as "problematic under any circumstance but particularly difficult to defend" given the stock performance.

The information was provided in a statement from Forager Capital Management.

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