PFSweb Announces Results of 2021 Annual Meeting of Stockholders

Rhea-AI Summary

PFSweb, a global commerce services company, successfully held its Annual Meeting of Stockholders on July 27, 2021, in Allen, Texas. Key proposals passed include the election of seven directors and approval of executive compensation on an advisory basis. An amendment to the 2020 Stock and Incentive Plan increased the number of shares by 1,000,000. Additionally, the company amended its Rights Agreement and appointed BDO USA as independent auditors for the fiscal year ending December 31, 2021.

Positive

• Approval of all proposals at the Annual Meeting.
• Election of seven directors enhances governance.
• Amendment to the Stock and Incentive Plan increases share availability by 1,000,000.
• Appointment of BDO USA, a reputable firm, as independent auditors.

Negative

• None.

ALLEN, Texas, July 27, 2021 (GLOBE NEWSWIRE) -- PFSweb, Inc. (NASDAQ: PFSW), a global commerce services company, held its Annual Meeting of Stockholders today, July 27, 2021 in Allen, Texas.

All Company proposals were approved by the Company’s stockholders, including: the election of seven directors; compensation of the Company’s named executive officers on a non-binding, advisory basis; an amendment to the 2020 Stock and Incentive Plan to increase the number of shares of Common Stock issuable thereunder by 1,000,000 shares; an amendment to the Rights Agreement with Computershare Shareowner Services, LLC; and the appointment of BDO USA, LLP as the Company’s independent auditors for the fiscal year ended December 31, 2021.

About PFSweb, Inc.

PFSweb (NASDAQ: PFSW) is a global commerce services company that manages the online customer shopping experience on behalf of major branded manufacturers and retailers. Across two business units – LiveArea for data-driven marketing and omnichannel experience design through technology selection, platform implementation and orchestrated services, and PFS for order fulfillment, contact center, payment processing/fraud management, and order management services – they provide solutions to a broad range of Fortune 500® companies and household brand names such as Procter & Gamble, L’Oréal USA, Champion, Pandora, Ralph Lauren, Shiseido Americas, the United States Mint, and many more. PFSweb enables these brands to provide a more convenient and brand-centric online shopping experience through both traditional and online business channels. The company is headquartered in Allen, TX with additional locations around the globe. For more information, visit www.pfsweb.com.

Investor Relations
Cody Slach or Jackie Keshner
Gateway Investor Relations
Tel 1-949-574-3860
PFSW@gatewayir.com

FAQ

What were the outcomes of PFSweb's Annual Meeting of Stockholders on July 27, 2021?

All proposals were approved, including the election of directors and an amendment to the Stock and Incentive Plan.

What is the significance of the amendment to the Stock and Incentive Plan for PFSweb?

It increased the number of shares issuable under the plan by 1,000,000, allowing greater flexibility in employee compensation.

Who were appointed as independent auditors for PFSweb for fiscal year 2021?

BDO USA, LLP was appointed as the independent auditors for PFSweb.

Who did PFSweb elect as directors during their Annual Meeting?

Seven directors were elected during the Annual Meeting.

What company held its Annual Meeting on July 27, 2021?

PFSweb, Inc. held its Annual Meeting of Stockholders.