Xperi Inc. has issued a letter to its stockholders, urging them to vote for its five director nominees at the upcoming Annual Meeting on May 24, 2024. The letter highlights Xperi's transformation from a semiconductor IP licensing company to a consumer entertainment technology company, focusing on connected TV advertising, streaming television, and in-vehicle infotainment. Xperi's board and management have driven this change, notably through acquisitions like DTS and the merger with TiVo. The company has seen five consecutive quarters of year-over-year revenue growth and expects continued growth and margin expansion. Xperi is contesting Rubric Capital's campaign to replace two directors, arguing that Rubric's nominees lack relevant experience and could hinder the company's progress.