Starboard Value holds 6.4% stake in Qorvo

Starboard Value and affiliated funds have amended their Schedule 13D on Qorvo, Inc., reporting beneficial ownership of 5,611,526 shares of common stock, or 6.4% of the company.

Rhea-AI Filing Summary

Starboard Value and affiliated funds have amended their Schedule 13D on Qorvo, Inc., reporting beneficial ownership of 5,611,526 shares of common stock, or 6.4% of the company. This percentage is based on 88,013,673 shares outstanding as of May 1, 2026, as disclosed in Qorvo's recent annual report. The holdings are spread across multiple Starboard vehicles, largely acquired in open-market purchases funded with working capital, which may include margin loans. One director, Peter A. Feld, also holds 2,496 shares granted in his capacity as a Qorvo director.

Insights

Activist investing analyst

Starboard reports a 6.4% Qorvo stake across multiple funds.

Starboard Value and its affiliates disclose ownership of 5,611,526 Qorvo shares, representing 6.4% of the common stock based on 88,013,673 shares outstanding as of May 1, 2026. The stake is held through several Starboard funds and related entities.

The filing notes that most shares were acquired via open-market purchases using working capital, which can include margin loans from brokerage firms. Individual vehicle purchase costs range from about $13.2M to $170.2M, indicating sizable, diversified exposure to Qorvo within the Starboard complex.

Because this is an Amendment No. 5 to an existing Schedule 13D, it refines ownership and transaction details rather than establishing a brand-new position. Future company filings and any additional amendments may provide more color on changes in ownership or engagement, but timing is not specified here.

Key Figures

Starboard beneficial ownership: 5,611,526 shares Ownership percentage: 6.4% Shares outstanding: 88,013,673 shares +5 more

8 metrics

Starboard beneficial ownership 5,611,526 shares Aggregate shares beneficially owned by certain Starboard reporting persons

Ownership percentage 6.4% Percent of Qorvo common stock beneficially owned by reporting persons

Shares outstanding 88,013,673 shares Qorvo shares outstanding as of May 1, 2026, from Form 10-K

Starboard V&O Master Fund stake 2,424,637 shares Beneficially owned by Starboard Value & Opportunity Master Fund Ltd

Starboard V&O Master Fund cost $170,183,649 Aggregate purchase price for 2,424,637 shares, excluding commissions

Starboard G Fund stake 1,191,067 shares Beneficially owned by Starboard G Fund, L.P.

Starboard G Fund cost $86,057,316 Aggregate purchase price for 1,191,067 shares, excluding commissions

Director Feld direct grant 2,496 shares Shares granted to Peter A. Feld as a Qorvo director

Key Terms

Schedule 13D, beneficially owned, sole voting power, sole dispositive power, +2 more

6 terms

Schedule 13D regulatory

"The percentages used in this are based upon 88,013,673 Shares outstanding"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"See rows (11) and (13) of the cover pages for the aggregate number of Shares and percentage of the Shares beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 7 | Sole Voting Power 5,611,526.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: 9 | Sole Dispositive Power 5,611,526.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

working capital financial

"were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms)"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

margin loans financial

"include margin loans made by brokerage firms in the ordinary course of business"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much of Qorvo (QRVO) does Starboard Value report owning in this Schedule 13D/A?

Starboard Value and its affiliates report beneficial ownership of 5,611,526 Qorvo shares, representing 6.4% of the common stock. This percentage is calculated using 88,013,673 shares outstanding as of May 1, 2026, as disclosed in Qorvo’s latest annual report.

Which Starboard entities hold Qorvo shares according to this amended 13D filing?

Qorvo shares are held across multiple Starboard entities, including Starboard Value & Opportunity Master Fund Ltd, Starboard Value & Opportunity S LLC, Starboard L Master, Starboard X Master, and Starboard G Fund, L.P., as well as an account managed by Starboard Value LP.

What is the share count and ownership percentage reported for Qorvo outstanding stock?

The filing states that ownership percentages are based on 88,013,673 Qorvo shares outstanding as of May 1, 2026. This figure comes from Qorvo’s Annual Report on Form 10-K, which the reporting persons use to calculate their 6.4% beneficial ownership figure.

How were Starboard’s Qorvo shares acquired and how were they financed?

The filing explains that Starboard’s Qorvo shares were generally acquired in open market purchases using working capital. That working capital may include margin loans from brokerage firms made in the ordinary course of business, highlighting typical hedge fund financing practices for equity positions.

What are the approximate purchase costs of key Starboard Qorvo positions?

Starboard cites aggregate purchase prices such as about $170.2 million for 2,424,637 shares in Starboard Value & Opportunity Master Fund and about $86.1 million for 1,191,067 shares in Starboard G Fund, L.P. Other vehicles report purchase costs between roughly $13.2 million and $58.1 million.

Does any individual director hold Qorvo shares in this Schedule 13D/A group?

Yes. The filing notes that Peter A. Feld directly beneficially owns 2,496 Qorvo shares. These shares were granted to him in his capacity as a director of Qorvo, separate from the larger positions held by Starboard-managed funds and accounts.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/02/2026 - 09:45 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

Qorvo, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value

(Title of Class of Securities)

74736K101

(CUSIP Number)

JEFFREY C. SMITH
STARBOARD VALUE LP, 777 Third Avenue, 18th Floor
New York, NY, 10017
212-845-7977

ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

MEAGAN REDA, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/02/2026

(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.

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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,611,526.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,611,526.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,611,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,424,637.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,424,637.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,424,637.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.8 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

STARBOARD VALUE & OPPORTUNITY S LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 388,431.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 388,431.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

388,431.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value & Opportunity Master Fund L LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 187,790.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 187,790.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

187,790.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value L LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 187,790.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 187,790.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

187,790.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value R GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 187,790.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 187,790.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

187,790.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard X Master Fund Ltd

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 601,136.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 601,136.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

601,136.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.7 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard G Fund, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,191,067.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,191,067.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,191,067.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value G GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,191,067.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,191,067.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,191,067.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value A LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,191,067.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,191,067.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,191,067.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value A GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,191,067.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,191,067.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,191,067.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

1.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Value GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,611,526.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,611,526.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,611,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Principal Co LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,611,526.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,611,526.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,611,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Starboard Principal Co GP LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 5,611,526.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,611,526.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,611,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Smith Jeffrey C

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,611,526.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,611,526.00

11

Aggregate amount beneficially owned by each reporting person

5,611,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 74736K101

1

Name of reporting person

Feld Peter A

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,496.00
8	Shared Voting Power 5,611,526.00
9	Sole Dispositive Power 2,496.00
10	Shared Dispositive Power 5,611,526.00

11

Aggregate amount beneficially owned by each reporting person

5,614,022.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.0001 par value
(b)	Name of Issuer: Qorvo, Inc.
(c)	Address of Issuer's Principal Executive Offices: 7628 THORNDIKE ROAD, GREENSBORO, NORTH CAROLINA , 27409.
Item 1 Comment: The following constitutes Amendment No. 5 to the Schedule 13D filed by the undersigned ("Amendment No. 5"). This Amendment No. 5 amends the Schedule 13D as specifically set forth herein. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D.
Item 2.	Identity and Background
(b)	Item 2(b) is hereby amended to add the following: The officers and directors of Starboard V&O Master Fund and Starboard X Master and their principal occupations and business addresses are set forth on Exhibit 1 attached hereto and are incorporated by reference in this Item 2.
(f)	Item 2(f) is hereby amended to add the following: The citizenship of the persons listed on Exhibit 1, attached hereto, is set forth therein and is 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 securities of the Issuer purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard L Master, 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. The aggregate purchase price of the 2,424,637 Shares beneficially owned by Starboard V&O Fund is approximately $170,183,649, excluding brokerage commissions. The aggregate purchase price of the 388,431 Shares beneficially owned by Starboard S LLC is approximately $27,181,074, excluding brokerage commissions. The aggregate purchase price of the 187,790 Shares beneficially owned by Starboard L Master is approximately $13,219,738, excluding brokerage commissions. The aggregate purchase price of the 601,136 Shares beneficially owned by Starboard X Master is approximately $41,689,621, excluding brokerage commissions. The aggregate purchase price of the 1,191,067 Shares beneficially owned by Starboard G LP is approximately $86,057,316, excluding brokerage commissions. The aggregate purchase price of the 818,465 Shares held in the Starboard Value LP Account is approximately $58,068,064, excluding brokerage commissions. The 2,496 Shares beneficially owned directly by Mr. Feld were granted to him in his capacity as a director of the Issuer.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The percentages used in this Schedule 13D are based upon 88,013,673 Shares outstanding, as of May 1, 2026, as reported in the Issuer's Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 8, 2026. See rows (11) and (13) of the cover pages to this Amendment No. 5 to the Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The filing of this Amendment No. 5 to the 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.
(b)	Item 5(b) is hereby amended and restated to read as follows: See rows (7) through (10) of the cover pages to this Amendment No. 5 to the Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition.
(c)	Item 5(c) is hereby amended and restated to read as follows: Information concerning transactions in the securities of the Issuer effected by the Reporting Persons during the past sixty days is set forth in Exhibit 2 attached hereto and is incorporated herein by reference. Except as otherwise noted, all of the transactions in the securities of the Issuer listed therein were effected in the open market through various brokerage entities.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibits: 1 - Directors and Officers. 2 - Transactions in the Securities.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Starboard Value LP

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value GP LLC, its general partner
Date:	06/02/2026

STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value LP, its investment manager
Date:	06/02/2026

STARBOARD VALUE & OPPORTUNITY S LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value LP, its manager
Date:	06/02/2026

Starboard Value & Opportunity Master Fund L LP

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value L LP, its general partner
Date:	06/02/2026

Starboard Value L LP

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value R GP LLC, its general partner
Date:	06/02/2026

Starboard Value R GP LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory
Date:	06/02/2026

Starboard X Master Fund Ltd

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Value LP, its investment manager
Date:	06/02/2026

Starboard G Fund, L.P.

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory for Starboard Value G GP, LLC, its general partner
Date:	06/02/2026

Starboard Value G GP, LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory for Starboard Value A LP, its general partner
Date:	06/02/2026

Starboard Value A LP

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory for Starboard Value A GP LLC, its general partner
Date:	06/02/2026

Starboard Value A GP LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory
Date:	06/02/2026

Starboard Value GP LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Principal Co LP, its member
Date:	06/02/2026

Starboard Principal Co LP

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory of Starboard Principal Co GP LLC, its general partner
Date:	06/02/2026

Starboard Principal Co GP LLC

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Authorized Signatory
Date:	06/02/2026

Smith Jeffrey C

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Attorney-in-Fact for Jeffrey C. Smith
Date:	06/02/2026

Feld Peter A

Signature:	/s/ Lindsey Cara
Name/Title:	Lindsey Cara, Attorney-in-Fact for Peter A. Feld
Date:	06/02/2026