Starboard Value LP Reduces Stake in Algonquin Power & Utilities Corp. to 7.4%

Starboard Value LP and its affiliates filed Amendment No. 7 to their Schedule 13D regarding Algonquin Power & Utilities Corp. (AQN) on April 1, 2026. The filing reports a decrease in their collective position to 57,215,415 common shares, representing approximately 7.4% of the shares outstanding. This reduction follows a series of open-market sales executed on March 30, 2026, at a price of $6.03 per share. Specifically, Starboard Value and Opportunity Master Fund III LP sold 3,199,946 shares, while other affiliated entities including Starboard G Fund, L.P. and Starboard X Master Fund II LP also reduced their holdings. Despite the divestment, Starboard remains a significant shareholder. The reporting group includes Jeffrey C. Smith, Peter A. Feld, and Gavin T. Molinelli, the latter of whom serves on the Issuer's Board of Directors. The shares were originally purchased using working capital, and the reporting persons continue to disclaim beneficial ownership of securities they do not directly own.