Exabeam $7M Stockholder Settlement — Paid Automatically

Securities · Pending — Automatic Payment

Current Status

There is no claim form and no claim deadline. Eligible class members are paid automatically if the Court approves the settlement. The only deadline is procedural: written objections, and any notice of intention to appear at the hearing, must be received by November 25, 2026. The settlement hearing is scheduled for December 9, 2026 at 3:15 p.m. ET before Vice Chancellor Paul A. Fioravanti Jr. of the Delaware Court of Chancery, in Wilmington or by Zoom at the Court’s discretion. No final approval has been granted, and no payment date had been announced as of October 15, 2026.

What Changed Recently?

On September 30, 2026, Vice Chancellor Paul A. Fioravanti Jr. granted, with modifications, a scheduling order that preliminarily certifies the class for settlement purposes, approves the form of notice, appoints A.B. Data Notice and Claims Administration as the settlement administrator and sets the December 9 hearing. The order follows a stipulation of settlement the parties entered into as of September 17, 2026 and filed with the Court on September 18. The court-approved notice to class members is dated October 7, 2026, and the order also calls for a summary notice to run on PR Newswire.

The lawsuit, Mihovilovic v. Exabeam, Inc., C.A. No. 2024-0976-PAF, was filed on September 20, 2024. The defendants moved to dismiss it on January 31, 2025. An in-person mediation on October 28, 2025 ended without a deal, but further negotiations through the mediator produced an agreement in principle on February 19, 2026 and a signed term sheet on April 1, 2026. Exabeam, its directors and CEO, and the venture investors that held its preferred stock deny all wrongdoing, and the settlement is not an admission of liability by any of them.

Who Qualifies?

The class covers every record and beneficial holder of Exabeam common stock whose shares were cancelled in connection with the merger on or about July 2, 2024, together with their successors and assigns. According to the settlement documents, that is 343 individuals and entities holding 9,928,400 common shares. Payment is based on the shares a class member held at the closing, because those are the shares that were cancelled.

Excluded are the defendants; their affiliates, parents, subsidiaries, partners, executive officers, directors, heirs, successors, assigns and controlling persons; members of their immediate families; and entities any of them controlled when the merger closed. Also excluded is any stockholder who received units in Excalibur Aggregation L.P. under a Common Unit Grant Agreement that contained a release of claims against the defendants. The company gave plaintiffs’ counsel a schedule of those excluded stockholders, and the proposed judgment requires any of them who receives money from the fund to return it.

Why Class Members Cannot Opt Out

The Court preliminarily certified the class as a non-opt-out class under Delaware Court of Chancery Rules 23(a), 23(b)(1) and 23(b)(2). Those rules carry no right of exclusion, so if the settlement is approved its release binds every class member and bars separate claims over the merger against the released parties, a group that includes Excalibur CombineCo, L.P., Excalibur Aggregation L.P. and LogRhythm Parent, LP as well as the defendants. A class member who disagrees can object to the settlement, the plan of allocation or the fee request instead.

The stipulation also covers the possibility that the Court will not approve a non-opt-out settlement. In that case the parties agreed to negotiate in good faith over an opt-out version, with a threshold of opt-outs at which the defendants alone could choose to terminate it.