CPI Card Group Announces Results of Annual Meeting; Welcomes Tom Furey as Director
May 28 2021 - 4:55PM
Business Wire
CPI Card Group Inc. (OTCQX: PMTS; TSX: PMTS) (“CPI” or the
“Company”), a payment technology company and leading provider of
credit, debit and prepaid solutions, announced that at its annual
meeting of stockholders, held virtually yesterday, its stockholders
voted to re-elect all six sitting directors to serve for a one-year
term: Robert Pearce, Nicholas Peters, Scott Scheirman, Bradley
Seaman, Marc Sheinbaum and Valerie Soranno Keating. Stockholders
also voted to elect Thomas Furey as a new independent director.
Thomas Furey brings to CPI’s board over 25 years of experience
in high volume manufacturing, operations and executive leadership.
Mr. Furey currently serves as the Chairman and Chief Executive
Officer of Sagetech Avionics, Inc. (“Sagetech”), a privately held
aerospace electronics company. From 2014 to 2015, Mr. Furey served
as Vice President of manufacturing and engineering at Unitec, Inc.,
a point-of-sale payments equipment company, before which he led his
own operations consultancy firm from 2012-2013. From 2004 to 2012,
Mr. Furey held various executive positions at Standard Register
Company. He began his career as a Naval Flight Officer in the U.S.
Navy. Mr. Furey holds a Bachelor of Science degree in mathematics
from the U.S. Naval Academy, a Master of Science degree in
Industrial Engineering from California State University Northridge,
as well as a Master of Science degree in Mechanical Engineering and
a Master of Business Administration degree from the Massachusetts
Institute of Technology.
“We are pleased to welcome Tom to CPI’s Board of Directors,”
said Bradley Seaman, Chairman of CPI’s Board of Directors. “Tom’s
deep operational experience in manufacturing and strong executive
leadership skills will be invaluable to CPI as we pursue our
strategic plan to be the partner of choice by providing
market-leading quality products and customer service with a
market-competitive business model.”
In addition to the election of directors to CPI’s Board of
Directors, CPI stockholders (i) ratified the retention of KPMG LLP
as its independent registered public accounting firm for the year
ending December 31, 2021, (ii) voted to approve, on an advisory
basis, the compensation of the Company’s named executive officers,
as described in CPI’s Proxy Statement filed with the Securities and
Exchange Commission on April 13, 2021 (the “Proxy Statement”),
(iii) voted to approve, on an advisory basis, holding an advisory
vote on the compensation of the Company’s named executive officers
every one year, and (iv) voted to approve an amendment and
restatement of the CPI Card Group Inc. Omnibus Incentive Plan (the
“Omnibus Plan”), as described in the Proxy Statement, to increase
the total number of shares of the Company’s common stock reserved
and available for issuance thereunder and make other administrative
changes. CPI’s non-insider stockholders also voted to approve an
amendment to the Omnibus Plan to increase the maximum number of
shares of the Company’s common stock issuable to “Insiders”
thereunder from 10% to 15% of the number of then issued and
outstanding shares of the Company’s common stock.
Detailed voting results of CPI’s annual meeting of stockholders
can be found in an 8-K filed today with the Securities and Exchange
Commission, which is located on CPI’s investor relations website
https://investor.cpicardgroup.com and on the SEC website.
About CPI Card Group Inc.
CPI Card Group® is a payment technology company and leading
provider of credit, debit and prepaid solutions delivered
physically, digitally and on-demand. CPI helps our customers foster
connections and build their brands through innovative and reliable
solutions, including financial payment cards, personalization and
Software-as-a-Service (SaaS) instant issuance. CPI has more than 20
years of experience in the payments market and is a trusted partner
to financial institutions and payments services providers. Serving
customers from locations throughout the United States, CPI has a
large network of high security facilities, each of which is
registered as PCI compliant by one or more of the payment brands:
Visa, Mastercard®, American Express® and Discover®. Learn more at
www.cpicardgroup.com.
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CPI Card Group Inc. Investor Relations: (877) 369-9016
InvestorRelations@cpicardgroup.com
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