Pivotree Inc., a leading provider of seamless commerce solutions and services, has announced the outcomes of its annual and special shareholders’ meeting held on June 25, 2024 (the “Meeting”). All resolutions proposed in the Company’s management information circular dated May 8, 2024, were duly passed and ratified by the shareholders.
Shareholders ratified the increase in the number of directors from seven (7) to eight (8). Each nominee listed in the Management Information Circular was elected as a Director for the upcoming year: Ashlee Aldridge, Brian Beattie, Scott Bryan, William Di Nardo, Sarah Joyce, Vernon Lobo, William Morris, and Bryan O’Neil.
Furthermore, shareholders approved the appointment of BDO Canada LLP as auditor for the ensuing year, with remuneration to be determined by the Board of Directors. The ordinary resolution to endorse the omnibus equity incentive plan (the “Incentive Plan”) was also approved.
In a related announcement, Pivotree disclosed its intention to grant, effective July 1, 2024, a total of 269,284 stock options (“Options”) and 55,567 restricted share units (“RSUs”) to certain executive officers under the Incentive Plan. The RSUs will vest over three years, while the Options, priced at $1.20 per share, will vest over four years and expire ten years from grant.
Additionally, the Company granted 244,863 deferred share units (“DSUs”) to non-executive officers for their services from July 1, 2024, to June 30, 2025, under the Plan. DSUs vest proportionately during service and fully by June 30, 2025. Upon a director’s departure from the Company, DSUs may be settled in cash, common shares, or a blend thereof, at the Company’s discretion.
A comprehensive overview of the Incentive Plan is available in the Management Information Circular on the Company’s profile on SEDAR+ at www.sedarplus.ca.
