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%3A%2F%2Finvestor.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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