Stoneridge, Inc. entered into a Cooperation Agreement with 22NW Fund, LP and its affiliates, which collectively own approximately 8.2% of the company's outstanding common shares. The Board of Directors will increase in size from seven to eight members, and Aron R. English, founder and portfolio manager of 22NW, LP, will be appointed as a director, effective March 16, 2026. Mr. English will be nominated for election at the company's 2026 Annual Meeting of Shareholders. The Investor Group has agreed to a standstill period, restricting them from increasing their beneficial ownership beyond 12.9% of outstanding common shares, soliciting proxies, or proposing changes to the Board, among other things. During the standstill, the Investor Group commits to voting all its shares in favor of Board-recommended director nominees and other proposals, with specific exceptions for proposals Mr. English votes against as a director or where both Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co., LLC (Glass Lewis) recommend contrary. Both parties have agreed to mutual non-disparagement clauses. Mr. English will offer to resign if the Investor Group's beneficial ownership falls below the lesser of 4.0% of outstanding common shares or 1,120,677 common shares, or if other specified conditions are met. The company will reimburse the Investor Group for up to $35,000 in expenses related to the agreement.