Sierra Wireless Announces Results of Annual Shareholders’ Meeting

Rhea-AI Summary

On June 2, 2022, Sierra Wireless conducted its annual general meeting, where all eight management-nominated board members were elected, receiving over 97% approval. Key resolutions included the reappointment of Ernst & Young as auditors, approval of amendments to the restricted share unit plan, and a non-binding resolution on executive compensation, which garnered 97.29% support. This strong shareholder backing demonstrates confidence in the company's governance and strategic direction as it continues to lead in IoT solutions.

Positive

• All eight proposed board nominees elected with over 97% support.
• Reappointment of Ernst & Young as auditors approved with 98.46% approval.
• Amendments to the share unit plan received 98.14% approval.
• Non-binding executive compensation resolution passed with 97.29% approval.

Negative

• Thomas Sieber received only 93.79% support, indicating potential shareholder concerns.

VANCOUVER, British Columbia--(BUSINESS WIRE)-- Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) (“Sierra Wireless” or the “Company”) is pleased to announce the results from its annual general meeting of shareholders (“Shareholders”) held on June 2, 2022 (the “Meeting”).

Results of the Meeting

All of the eight nominees proposed by management for election to the Board at the Meeting and listed in the Company’s Management Information Circular dated April 28, 2022 (the “Circular”) were elected to the Board. The directors will remain in office until the next annual meeting of Shareholders, or until their successors are elected or appointed.

The results of the vote on the election of directors are as follows:

Director	Votes in Favour		Votes Withheld
	Number of Votes	Percentage (%)	Number of Votes	Percentage (%)
James R. Anderson	22,943,499	98.94%	246,748	1.06%
Karima Bawa	22,708,047	97.92%	482,210	2.08%
Philip Brace	22,941,968	98.93%	248,289	1.07%
Russell N. Jones	22,731,152	98.02%	459,105	1.98%
Martin D. Mc Court	22,913,299	98.81%	276,958	1.19%
Lori M. O’Neill	22,833,677	98.46%	356,580	1.54%
Thomas Sieber	21,749,805	93.79%	1,440,452	6.21%
Gregory L. Waters	22,914,723	98.81%	275,534	1.19%

The other items of business at the Meeting were to (i) appoint Ernst & Young LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year and to authorize the directors to fix the remuneration of the auditors; (ii) approve certain amendments to the Company’s 2011 Treasury Based Restricted Share Unit Plan; and (iii) approve an advisory resolution to accept the Company’s approach to executive compensation.

By resolution passed by way of ballot, the Shareholders approved the reappointment of Ernst & Young LLP, Chartered Professional Accountants, as auditors of the Company for the ensuing year, as follows:

Votes For	% Votes For	Votes Withheld	% Votes Withheld
26,938,781	98.46%	420,631	1.54%

By resolution passed by way of ballot, the Shareholders approved certain amendments to the Company’s 2011 Treasury Based Restricted Share Unit Plan (the “Treasury RSU Plan”), as more particularly described in the Circular, as follows:

Votes For	% Votes For	Votes Against	% Votes Against
22,758,295	98.14%	431,516	1.86%

By resolution passed by way of ballot, the Shareholders approved a non-binding resolution approving the compensation of the Company’s named executive officers, as follows:

Votes For	% Votes For	Votes Against	% Votes Against
22,561,041	97.29%	629,216	2.71%

No other business was voted upon at the Meeting.

About Sierra Wireless

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Companies globally are adopting 4G, 5G, and LPWA solutions to improve operational efficiency, create better customer experiences, improve their business models, and create new revenue streams. Sierra Wireless works with its customers to develop the right industry-specific solution for their  IoT deployments, whether this is an integrated solution to help connect edge devices to the cloud, a software/API service to manage processes with billions of connected assets, or a platform to extract real-time data to improve business decisions. With more than 25 years of cellular IoT experience, Sierra Wireless is the global partner customers trust to deliver them their next IoT solution. For more information, visit www.sierrawireless.com.

Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at https://www.linkedin.com/company/sierra-wireless and on YouTube at https://www.youtube.com/SierraWireless.

“Sierra Wireless” is a registered trademark of Sierra Wireless. Other product or service names mentioned herein may be the trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220603005482/en/

Media Contact:

Louise Matich

+1 (236) 979-2158

pr@sierrawireless.com



Investor Contact:

David Climie

+1 (604) 231-1137

dclimie@sierrawireless.com

Source: Sierra Wireless, Inc.

FAQ

What were the results of Sierra Wireless' annual general meeting on June 2, 2022?

At the annual general meeting on June 2, 2022, all eight board nominees proposed by management were elected with significant shareholder support, indicating strong confidence in the company's governance.

Who were elected to the board of Sierra Wireless during the June 2022 meeting?

The board members elected included James R. Anderson, Karima Bawa, Philip Brace, Russell N. Jones, Martin D. McCourt, Lori M. O’Neill, Thomas Sieber, and Gregory L. Waters.

What percentage of votes approved the amendments to the share unit plan at Sierra Wireless?

The amendments to the 2011 Treasury Based Restricted Share Unit Plan were approved with 98.14% of the votes in favor.

What was the outcome of the executive compensation advisory resolution at Sierra Wireless?

The non-binding resolution on executive compensation received 97.29% approval from shareholders at the annual meeting.

What financial audit firm was reappointed by Sierra Wireless in 2022?

Sierra Wireless shareholders reappointed Ernst & Young LLP as the company's auditors for the ensuing year with 98.46% support.