Activist Sachem Head Capital Management has reduced its slate of candidates at U.S. Foods Holding from seven to five nominees.

The move follows a March 29 announcement by the company that two new independent directors would be added to the board and that long-tenured director and former US Foods CEO John Lederer would not stand for reelection.

In a proxy statement the 8.7% shareholder said that in light of the announcement it had “reevaluated the optimal number of directors needed to be put forward in order to deliver the change Sachem Head believed was required.”

The filing continues to list the name of Sachem’s seven original candidates: Meredith Adler, James Barber, Jeri Finard, John Harris, Bernardo Hees, David Toy and the activist’s own chief executive Scott Ferguson. It did not indicate which five would be on the final slate.

The filing also noted that on March 30, Scott Ferguson made a verbal offer to U.S. Food director Nathaniel Taylor to end the proxy contest if the company agreed to give Sachem Head four seats and issue a public announcement that it would either launch a search for a new CEO or explore strategic alternatives.