TORONTO, June 30,
2022 /CNW/ - Pivotree Inc. (TSXV: PVT) ("Pivotree" or
the "Company"), announced today the results of its annual and
special meeting of shareholders held on June
28, 2022 (the "Meeting"). All of the resolutions proposed,
as set out in the Company's management information circular dated
May 19, 2022, were duly passed by the
shareholders of the Company.
Each of the seven (7) nominees listed in the Management
Information Circular of the Company was elected as a Director of
the Company, with specific voting results as follows:
Director
Nominee
|
Votes
For
|
%
|
Votes
Withheld
|
%
|
Ashlee
Aldridge
|
16,765,367
|
99.991
|
1,500
|
0.009
|
Brian
Beattie
|
16,763,927
|
99.982
|
2,940
|
0.018
|
Scott Bryan
|
16,588,637
|
98.937
|
178,230
|
1.063
|
William Di
Nardo
|
16,765,151
|
99.990
|
1,716
|
0.010
|
Vernon Lobo
|
16,598,077
|
98.993
|
168,790
|
1.007
|
William
Morris
|
16,596,637
|
98.985
|
170,230
|
1.015
|
Bryan O'Neil
|
16,596,637
|
98.985
|
170,230
|
1.015
|
In addition, the resolution to appoint BDO Canada LLP as auditor
of the Company for the ensuing year at a remuneration to be fixed
by the Board of Directors was approved and the ordinary resolution
to approve the omnibus equity incentive plan (the "Plan") of the
Company was approved.
Incentive Plan Awards
Pivotree also announced that it has granted an aggregate of
37,048 restricted share units (each an "RSU") and 150,039 stock
options (each, an "Option") to certain executive officers of the
Company pursuant to the Company's Equity Incentive Plan (the
"Plan"). Each RSU will vest over a period of three years and the
Options bear an exercise price of $4.04 per share, vest over a period of four years
from the date of grant, and will expire 10 years from the date of
grant.
The Company granted an aggregate of 23,512 deferred share units
(each an "DSU-A") to certain non-executive officers of the Company
in respect of their services to the Company from April 1, 2022 to June 30,
2022 and an aggregate of 84,159 deferred share units (each
an "DSU-B") in respect of their services for the ensuing 12 months
from July 1, 2022 to June 30, 2023 pursuant to the Plan. All of the
DSU-As vest effective as of the date of grant and the DSU-Bs vest
on a quarterly schedule beginning on September 30, 2022 and ending June 30, 2023. The DSU-As and DSU-Bs may be
settled, at the option in the Company, in cash or common shares of
the Company, or a combination of cash and common shares, upon the
applicable director ceasing to be a director of the Company.
A copy of the Plan is attached as Appendix C to the Company's
final prospectus dated October 23,
2020, which is available on the Company's profile on SEDAR at
www.sedar.com.
About Pivotree
Pivotree, a leader in frictionless commerce designs, integrates
and manages digital platforms in Commerce, Data Management, and
Supply Chain for over 250 major retail and branded
manufacturers globally. Pivotree provides a combination of
application support and managed hosting with digital strategy and
software implementation services. Headquartered in Toronto, Canada with offices and customers in
the Americas, EMEA, and APAC, Pivotree is widely recognized as a
high-growth company and industry leader. For more information,
visit www.pivotree.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Pivotree Inc.