Privacy
If you are a California resident, please review our California Privacy Notice below.
This section describes our privacy practices with respect to the information that we may collect in connection with this site. It applies only to this site and does not apply to the off-line collection of information or to the “Investor Login” section of the site, which is operated by our service provider, IntraLinks, Inc. If you register for an account with, or otherwise access, the “Investor Login” section of the site your use thereof is subject to the IntraLinks, Inc., end user agreement and privacy policy available thereon.
- Information We Collect and Track: We may collect and retain two types of information about site users: (i) personal information that individual visitors voluntarily provide when using the site or on certain other occasions (such as via forms or in emails); and (ii) tracking data, which is automatically collected from every site visitor. We may, from time to time, store and archive the information you submit to or through the site. The information that we gather may include your name, title and address, telephone number, email address or other elements of personal information. In addition, if you contact us, we may keep a record of your correspondence, including any information contained therein. You may decline to provide any personal information, but please realize that you thereby may be unable to access certain services and sections of the site. In addition to the information you submit to or through our site, we also may collect and store data from and about you gathered in the course of your use of our site, which may include information regarding the number and frequency of site visits, the websites that you access before and after you visit our site, the software and operating system used to access our site and your IP address and Internet service provider.
- Use of Cookies: We or our third-party service providers may use cookies, local shared objects, web beacons and other similar technology (collectively, “Cookies”) in connection with your use of our site or site Content. Cookies are small pieces of information that a website transfers to your computer’s hard drive for record-keeping purposes and may have unique identifiers and transmit information about you and how you use our site, which may include your search preferences, browser type and the date and time of use. If you choose, you can disable some (but not all) Cookies in your device or browser settings, but doing so may affect your ability to use our site or receive third-party services through our site.
- How We Use Your Information: The information that you provide to us and that we may collect in the future is used for our business purposes and the purpose for which you provided it only, subject to these Terms, including, without limitation, to respond to your requests or correspondence, to contact you about the site, to request feedback regarding ways to improve the site and/or to inform you about our activities, products and services or those of our affiliates. We may analyze your information, including tracking data, to provide you with useful information and improve our services through enhanced features and functions on the site. For example, your information may be used to, without limitation, compile statistical, demographic or aggregated information about visitors to the site generally, or for load-balancing metrics, and also may be used to create reports on user demographics and the traffic patterns of the site. We will not disclose any personal information collected through the site to third parties in an identifiable, disaggregated format, except: (i) to our affiliates, agents, consultants and contractors; (ii) to service providers who assist us in running the site and our business; (iii) when we believe that such disclosure is required by law; (iv) to enforce these Terms; (v) to protect the rights, property, security or safety of ValueAct, site users or the public; (vi) to respond to an emergency; or (vii) as otherwise stated in these Terms. In addition, we may disclose information to certain third parties if you have requested or authorized the disclosure of such information. We may also share aggregated or deidentified information in our sole discretion. Please note that although we use reasonable efforts to limit third-party use of information, we are not responsible for such third-party use of information. From time to time, we may email site users with information regarding important developments affecting ValueAct or otherwise regarding the site. Such emails may be sent to site users even if they have not requested to receive any communication from us.
- Information Transfer: We retain the right to transfer or assign your information to our successor or in connection with any change of control, merger, business combination, stock sale, asset sale, reorganization, amalgamation or other company transaction relating to ValueAct or our assets, in whole or in part, without notice to you.
- How Your Information Is Protected: We take reasonable precautions to protect your information from loss, misuse or alteration. You should recognize, however, that there is no such thing as “perfect security” on the Internet, and we cannot guarantee the security of your information. In addition, because Internet communications are unsecure, it is also possible that the information you supply to us or your access of any information via the Website will be intercepted during transmission. We are not liable for any breach of our systems or interception of our transmission, and we hereby fully disclaim, to the fullest extent possible under law, any liability associated with any claim relating to a breach of security, data or information.
- Compliance with Laws: We reserve the right to disclose any information that we believe is necessary to comply with any law, regulation, decree, judgment, order, subpoena or any other governmental order (“Order”) without any obligation to contest or verify the accuracy of such Order.
Limitation of Liability
We shall not be liable for any direct, indirect, incidental, special or consequential damages, resulting from the use of or the inability to use the site or Content or resulting from unauthorized access this site, including but not limited to, damages for loss of profits, use, data or other intangible, even if we have been advised of the possibility of such damages.
Because some states do not allow the exclusion or limitation of liability for consequential or incidental damages, in such states liability is limited to the fullest extent permitted by law.
If you are dissatisfied with any portion of the service, or with any of these Terms, your sole and exclusive remedy is to discontinue using this site.
Waiver of Jury Trial
To the fullest extent permitted by applicable law, you hereby irrevocably waive any and all right to trial by jury in any legal proceeding arising out of or relating to this agreement or the transactions contemplated hereby.
Indemnification
To the fullest extent permitted by applicable law, you agree to defend, indemnify and hold us, and our subsidiaries, affiliates, officers, agents, employees, contractors and advisors harmless from any claim or demand, including any liabilities, losses, costs, damages, reasonable attorney’s fees and expenses, made by any third party based on or arising out of your use of this site, your violation of these Terms, or your violation of any rights of another.
Termination
We may terminate or suspend your access to all or part of this site or Content, without notice, for any reason. These Terms will automatically terminate upon your breach of any provision of these Terms, provided that applicable provisions will survive such termination (including, but not limited to, Governing Law, Disclaimer of Warranties, Indemnification, Limitation of Liability and Waiver of Jury Trial).
General Information
These Terms and any additional terms and/or policies posted on this site constitute the entire agreement and understanding between you and ValueAct, superseding any prior agreements and understandings, and govern your use of this site. You also may be subject to additional terms and conditions that may apply (a) if you register for an account for, or otherwise access the, “Investor Login” section of the site, which is operated by IntraLinks, Inc. and subject to the end user agreement and privacy policy posted thereon and (b)if you use affiliate services, third-party content or third-party software. Our failure to exercise or enforce any right or provision of the Terms shall not constitute a waiver of such right or provision. If any provision of the Terms is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of the Terms remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of this site or the Terms must be filed within one (1) year after such claim or cause of action arose or be forever barred. The section titles in the Terms are for convenience only and have no legal or contractual effect.
Any rights not expressly granted herein are reserved by and for ValueAct.
Modification of Agreement
We may change, modify or replace these Terms at any time for any reason by posting updated Terms on the site. If we determine in our reasonable discretion that any such changes are material, we will make reasonable efforts to post a notice of such changes on the site. All updated Terms take effect immediately as of the date of such update. If you do not agree with the changes in the Terms, your sole remedy is to discontinue the use of the site. By using this site after we post any changes to this policy, you thereby indicate that you have read, understood and agree to accept those changes.
Governing Law; Statute of Limitations
This Terms shall be governed by and construed in accordance with the laws of the State of California, United States of America, without reference to its conflicts of laws principles. Any dispute relating to your use of the website or these Terms shall be brought solely in the state or federal courts located in San Francisco, California, and you hereby consent and submit to the personal jurisdiction and venue of such courts for the purpose of litigating any such action or dispute arising hereunder.
If you have any requests with respect to your personal information collected via the site or have any inquiries concerning these Terms, please contact legal@valueact.com.
ValueAct Capital Management, L.P. – California Privacy Notice
Last Updated: May 1, 2025
This California Consumer Privacy Statement supplements the other ValueAct Privacy Policy statements and applies solely to California consumers, including but not limited to, representatives of our institutional investors, vendors and business partners, and individuals who act as our contractors, advisors, and consultants.
This Statement does not apply to (i) ValueAct employees, owners, officers, or directors, (ii) job applicants seeking opportunities at ValueAct, or (iii) information collected, processed, sold, or disclosed pursuant to the Gramm-Leach-Bliley Act (and its implementing regulations) or the California Financial Information Privacy Act.
This California Consumer Privacy Statement (the “Statement”) uses certain terms that have the meaning given to them in the California Consumer Privacy Act of 2018 (as amended by the California Privacy Rights Act of 2020) and its implementing regulations (collectively, the “CCPA/CPRA”).
Notice at Collection and Use of Personal Information
Information We Collect
We may collect (and may have collected during the 12-month period prior to the effective date of this Statement) the following categories of personal information about you online or offline:
- Identifiers and similar information such as your real name, alias, postal address, unique personal identifier (such as a device identifier, including time zone setting and location and operating system and platform; cookies, beacons, and pixel tags; unique pseudonym or user alias; telephone number), online identifier, internet protocol address, login data, email address, account name, Social Security number, driver’s license number, passport number, date of birth, spouse’s name, and other similar identifiers
- Certain information subject to Cal. Civ. Code § 1798.80 such as your signature, social security number, driver’s license, passport number, state identification card number, bank account number, credit card or other financial information.
- Characteristics of protected classifications under federal or certain state laws, including gender, age, national origin, citizenship status, or marital status.
- Commercial information, including records of products or services purchased, obtained, or considered, or other purchasing histories or tendencies, including funds invested, investments considered, or sources of wealth.
- Internet or other electronic network activity information, including location-enabling services and interaction with our website or use of certain online tools.
- Employment Information: professional or employment-related information, such as information relating to your job position (e.g., job title, job description, and office location) and, if you are an advisor or consultant to ValueAct, additional information such as compensation and payroll details (e.g., bank account details, information relating to personal investments, and tax-related information), talent management information (e.g., resumé information, education details, certifications and professional associations, historical compensation details, previous employment details, and information received in connection with background checks and references), corporate travel information, and information about your use of ValueAct’s IT resources (e.g., the time and duration of internet and network connections, how you use technology resources, electronic communications you send/receive and the contents thereof (e.g., Bloomberg Messaging, Zoom Chat, WhatsApp, WeChat, and any other messaging platform), software and files you download and access, and voicemails you receive)
- Certain education information that is not “publicly available personally identifiable information” as defined in the Family Educational Rights and Privacy Act.
- Inferences drawn from any of the information identified above to create a profile reflecting your preferences or similar information, including your potential interest in investing in new funds or products.
How We Use Collected Information
We may use (and may have used during the 12-month period prior to the effective date of this Statement) your personal information for the purposes described in the ValueAct Website Privacy Policy and for the following business purposes specified in the CCPA/CPRA:
- Performing services, including maintaining or servicing accounts, providing customer service, processing or fulfilling orders and transactions, verifying customer information, processing payments, providing financing, providing analytics services, providing storage, or providing similar services
- Providing advertising and marketing services to you, except for cross-context behavioral advertising (which is addressed in section 6 of this Statement)
- Auditing related to counting ad impressions to unique visitors, verifying positioning and quality of ad impressions, and auditing compliance with this specification and other standards
- Short-term, transient use, including but not limited to nonpersonalized advertising shown as part of your current interaction with us
- Helping to ensure security and integrity to the extent the use of your personal information is reasonably necessary and proportionate for these purposes
- Debugging to identify and repair errors that impair existing intended functionality
- Undertaking internal research for technological development and demonstration
- Undertaking activities to verify or maintain the quality or safety of a service or device that is owned, manufactured, manufactured for, or controlled by us, and to improve, upgrade, or enhance the service or device that is owned, manufactured, manufactured for, or controlled by us
In addition, if you are a contractor, advisor or consultant to ValueAct, we may use your personal information for purposes of carrying out and supporting HR functions and activities, including managing work activities and personnel, conducting business operations, performing strategic planning, operating our facilities and preparing for and responding to emergencies, ensuring business continuity, accommodating disabilities or illnesses, conducting diversity initiatives, protecting the health and safety of our staff and others, safeguarding, monitoring, and maintaining our office equipment, facilities, and other property, and satisfying our legal and compliance obligations. We may also use your personal information in connection with our marketing efforts.
We do not collect or process sensitive personal information for purposes of inferring characteristics about consumers.
Retention of Personal Information
ValueAct retains your personal information for the period reasonably necessary to achieve the purposes outlined in our Website Privacy Policy and this Statement, or any other notice provided at the time of collection, unless a longer retention period is required or permitted by applicable law, taking into account relevant statutes of limitations and ValueAct’s records retention requirements and policies
Sources of Personal Information
We may obtain (and may have obtained during the 12-month period prior to the effective date of this Statement), personal information about you from the following sources:
- From you, including your devices, for example, through your use of our websites or mobile applications, when you send us an email, visit our facilities, or otherwise contact or communicate with us
- From monitoring tools, such as cookies that track your use of our websites or mobile applications, third-party web analytics services (e.g., Google Analytics), and security cameras in certain of our facilities
- Our affiliates and subsidiaries
- Our portfolio companies
- Our institutional investors
- From your employer, if you are an adviser or consultant
- Businesses that we are evaluating in connection with a potential investment or business opportunity
- Prospective lenders to or creditors of a fund or portfolio company in which we have or are considering investing
- Vendors who provide services on our behalf
- Broker-dealers, advisors, and other business partners
- Background check providers
- Recruiting agencies, social media networks or publicly available sources
Disclosure of Personal Information
During the 12-month period prior to the effective date of this Statement, we may have disclosed the following categories of personal information about you for a business purpose to the following categories of third parties:
| Category of Personal Information | Categories of Third Parties |
|---|---|
| Identifiers |
|
| Additional Data Subject to Cal. Civ. Code § 1798.80 |
|
| Protected Classifications |
|
| Commercial Information |
|
| Online Activity |
|
| Geolocation Data |
|
| Sensory Information |
|
| Employment Information |
|
| Inferences |
|
In addition to the categories of third parties identified above, during the 12-month period prior to the effective date of this Statement, we may have disclosed personal information about you to the following additional categories of third parties:
- Government entities, including regulatory agencies and law enforcement
- If you are a user of the ValueAct Events mobile application, your name and company name will be displayed within the application viewable to other event attendees
Sale or Sharing of Personal Information
We do not sell personal information or share personal information for cross-context behavioral advertising purposes (and we have not sold personal information or shared personal information for crosscontext behavioral advertising purposes during the 12-month period prior to the effective date of this Statement).
California Consumer Privacy Rights
You have certain choices regarding our use and disclosure of your personal information, as described below.
Access: You have the right to request, twice in a 12-month period, that we disclose to you the categories of personal information we have collected about you, the categories of sources from which the personal information is collected, the business or commercial purpose for collecting, selling, or sharing personal information, the categories of third parties to whom we disclose personal information, and the specific pieces of personal information we have collected about you.
Correction: You have the right to request that we correct the personal information we maintain about you, if that information is inaccurate.
Deletion: You have the right to request that we delete certain personal information we have collected from you.
How to Submit a Request: To submit an access, correction, or deletion request, please email us at Privacy@valueact.com or call us at 415-362-3700. To submit a request as an authorized agent on behalf of a consumer, please send us an email at Privacy@valueact.com with your first name and a phone number at which may reach you and indicate in the subject line that you are making a Request to Deletion of Personal Information, or call us at 415-362-3700.
Verifying Requests: To help protect your privacy and maintain security, we will take steps to verify your identity before granting you access to your personal information or complying with your request. If you request access to or correction or deletion of your personal information, we may require you to provide any of the following information: address, date of birth, unique personal identifier, nationality, telephone number, email address, CV information or details of a transaction. In addition, if you ask us to provide you with specific pieces of personal information, we will require you to sign a declaration under penalty of perjury that you are the consumer whose personal information is the subject of the request.
Additional Information: If you choose to exercise any of your rights under the CCPA/CPRA, you have the right to not receive discriminatory treatment by us. To the extent permitted by applicable law, we may charge a reasonable fee to comply with your request.
Contact for More Information
If you have any questions or concerns about this California privacy notice, please email Privacy@valueact.com or call 415-362-3700.