Qumu Announces Results of 2022 Annual Meeting of Shareholders
Qumu Corporation held its 2022 Annual Meeting of Shareholders on June 2, 2022, with approximately 77.5% of shares represented. All director nominees were elected, and significant proposals were approved, including executive compensation and an amendment to the stock incentive plan increasing share issuance by 1,200,000. A shareholder proposal for engaging an investment bank to sell Qumu received 52% approval. Chairman Neil Cox expressed gratitude to shareholders for their input, emphasizing the board's commitment to maximizing long-term value.
- All director nominees were elected by shareholders.
- Approval of an amendment to increase shares authorized for the stock incentive plan by 1,200,000.
- Shareholder endorsement of executive compensation on an advisory basis.
- The proposal to engage an investment bank for a potential sale was only advisory and met with 52% approval, indicating divided shareholder opinion.
A total of 13,846,935 shares of
At the Annual Meeting, each director nominee was elected to serve as a director of the Company. Further, shareholders approved each of the following matters:
- Proposal 2: To approve, on a non-binding advisory basis, the compensation paid to Qumu’s named executive officers;
- Proposal 3: To approve an amendment to the Qumu Corporation Second Amended and Restated 2007 Stock Incentive Plan to increase the number of shares authorized for issuance by 1,200,000 shares; and
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Proposal 4: To ratify the appointment of
KPMG LLP as the independent registered public accounting firm forQumu Corporation for the year endingDecember 31, 2022 .
With respect to Proposal 5, a shareholder proposal relating to the engagement of an investment bank for the sale of
“Thank you to all
About
Forward-Looking Statements
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” or “estimate” or comparable terminology are intended to identify forward-looking statements. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements.
The risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include the risk factors described in the company’s Annual Report on Form 10-K for the year ended
The forward-looking statements in this press release speak only as of the date of this press release. Except as required by law,
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Qumu Media Contact:
Big Valley Marketing for
alegge@bigvalley.co
+1 707-972-0073
Qumu Investor Contact:
Gateway Investor Relations
QUMU@gatewayir.com
+1.949.574.3860
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