Carl Icahn filed a 13DA with the U.S. Securities and Exchange Commission on Tuesday, revealing an agreement with Crown Holdings via which the company nominated his representatives Jesse Lynn and Andrew Teno on its slate of 2023 director nominations.

Icahn also reached a standstill agreement with Crown in exchange for the director picks and said it would avoid certain actions concerning the company while it’s in effect.

Last month after Icahn revealed his stake and said he would discuss various ideas to increase shareholder value with Crown representatives, the company’s board set a shareholder rights plan, commonly called a poison pill, to defend against Icahn’s recent purchase of an 8.5% stake in the company.

The rights plan has a 10 percent ownership trigger. Crown said it would issue one right for each outstanding share of Crown common stock to shareholders of record on the close of business on Nov. 17, 2022.

Icahn is Crown’s second-largest shareholder, and the activist wants the company to sell noncore assets and repurchase stock.

The rights plan expires on Nov. 3, 2023

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Yardley, Pennsylvania.

What are other large shareholders doing?

Janus Henderson Group Plc holds 5,966,522 shares representing 5.03% ownership of the company. In its prior filing, the firm reported owning 6,076,625 shares, representing a decrease of 1.85%. The firm decreased its portfolio allocation in CCK by 68.19% over the last quarter.

Nuveen Asset Management, LLC holds 5,239,145 shares representing 4.42% ownership of the company. In its prior filing, the firm reported owning 5,195,674 shares, representing an increase of 0.83%. The firm decreased its portfolio allocation in CCK by 43.80% over the last quarter.

Franklin Resources Inc holds 3,950,806 shares representing 3.33% ownership of the company. In its prior filing, the firm reported owning 4,313,314 shares, representing a decrease of 9.18%. The firm decreased its portfolio allocation in CCK by 80.44% over the last quarter.

Impactive Capital LP holds 3,154,726 shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 2,470,649 shares, representing an increase of 21.68%. The firm increased its portfolio allocation in CCK by 29.59% over the last quarter.

William Blair Investment Management, Llc holds 3,116,059 shares representing 2.63% ownership of the company. In its prior filing, the firm reported owning 3,063,365 shares, representing an increase of 1.69%. The firm decreased its portfolio allocation in CCK by 4.63% over the last quarter.

What is the overall Fund Sentiment?

There are 958 funds or institutions reporting positions in Crown Holdings, Inc. This is a decrease of 34 owner(s) or 3.43%.

Average portfolio weight of all funds dedicated to Crown Holdings, Inc. is 0.4187%, a decrease of 10.8161%. Total shares owned by institutions increased in the last three months by 4.85% to 144,363,809 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and, in particular, how the company ranks compared to other companies in the investing universe.

Click to see the Fintel Fund Sentiment Score for CCK / Crown Holdings, Inc.

This article originally appeared on Fintel

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