EMERGE Commerce Announces Results of Voting at Annual General Meeting of Shareholders, and Issuance of Restricted Share Units

Executive Summary

• EMERGE Commerce Ltd. held its Annual General Meeting (AGM) where shareholders approved all matters, including the election of directors and the appointment of auditors.
• The Board appointed Ian McKinnon as Chairman of the Board and Chair of the Compensation, Governance and Nominating Committee, and John Kim as Audit Committee Chair.
• The Company issued 2,218,332 Restricted Share Units (RSUs) to directors, officers, and employees under its omnibus equity incentive plan as part of the annual compensation process.

Key Details

• AGM Results: All matters put forward were approved by the requisite majority.
• Director Elections:
  • Ian McKinnon: 20,893,403 votes (99.90%)
  • John Kim: 20,903,403 votes (99.95%)
  • Ghassan Halazon: 20,614,681 votes (98.57%)
• Board Appointments:
  • Ian McKinnon appointed Chairman of the Board, Compensation, Governance and Nominating Committee Chair.
  • John Kim appointed Audit Committee Chair.
• Director Changes: Drew Green did not seek re-election but will continue in an advisory capacity.
• RSU Grants:
  • Total RSUs granted: 2,218,332.
  • Recipients: Certain directors, officers, and employees.
  • Vesting Schedule: One year or three years, depending on the applicable award.
  • Deemed Price: $0.075 per RSU.
  • Terms: Each vested RSU entitles the holder to receive one common share of the Company.
  • Purpose: Part of the annual compensation process to reward and incentivize performance.

Notable Quotes

• Ian McKinnon: "Having served on the Board for the past four years, I am honoured to step into the role of Chair. I look forward to continuing to work closely with the Board and management team as the Company embarks on its next phase of growth under Ghassan's leadership."
• Ghassan Halazon (CEO): "The Board would like to thank Drew for his dedication, entrepreneurial perspective and contributions to EMERGE over the years. We are grateful for the role he has played in the Company's evolution and look forward to continuing to benefit from his experience, and industry expertise in his new capacity as an advisor."
• Drew Green: "Serving as Chairman since the company was founded almost a decade ago has been an incredible experience... Looking forward to continuing to share advice and will endeavour to remain a meaningful shareholder for years to come as the company continues to execute on its profitable growth plans."