Sierra Wireless Announces Results of Annual Shareholders’ Meeting and Appointment of New Directors

Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites.
Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. For avoidance of any doubts and to make it easier, you may consider any links to external websites as sponsored links. Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Sierra Wireless, Inc. (NASDAQ: SWIR) (TSX: SW) (Sierra Wireless or the Company) is pleased to announce the results from its annual general and special meeting of shareholders (Shareholders) held on May 21, 2020, (the Meeting) and the appointment of three new independent directors to the Board of Directors of the Company (the Board).

Results of the Meeting

All of the nine nominees proposed by management for election to the Board at the Meeting and listed in the Companys Management Information Circular dated April 20, 2020, (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 (%)

Gregory D. Aasen

16,516,793

95.88%

710,445

4.12

Robin A. Abrams

16,566,046

96.16%

661,192

3.84

Russell N. Jones

16,731,536

97.12%

495,702

2.88

Lori M. ONeill

16,754,240

97.25%

472,998

2.75

Thomas Sieber

16,762,256

97.30%

464,982

2.70

Kent P. Thexton

16,623,928

96.50%

603,310

3.50

Gregory L. Waters

16,766,993

97.33%

460,244

2.67

James R. Anderson

16,764,978

97.32%

462,260

2.68

Karima Bawa

16,746,586

97.21%

480,651

2.79

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 Companys Amended and Restated 1997 Stock Option Plan and to approve all unallocated entitlements thereunder; (iii) approve certain amendments to the Companys 2011 Treasury Based Restricted Share Unit Plan; (iv) approve an advisory resolution to accept the Companys approach to executive compensation; (v) approve an amendment to, and the restatement of, the Companys Amended and Restated By-Law No. 1; and (vi) authorize the Company to amend its articles to increase the maximum number of directors of the Company from nine to twelve.

By resolution passed by way of a show of hands, Ernst & Young LLP, Chartered Professional Accountants, were appointed as auditors of the Company for the ensuing year. Proxies received as of the proxy cut-off time on May 19, 2020 with respect to the reappointment of Ernst & Young LLP, Chartered Professional Accountants were voted as follows:

Votes For

% Votes For

Votes Withheld

% Votes Withheld

26,295,855

99.34%

175,432

0.66%

By resolution passed by way of ballot, the Shareholders approved certain amendments to and all of the unallocated options, rights and entitlements under the Companys Amended and Restated 1997 Stock Option Plan (the Option Plan), as more particularly described in the Companys Management Information Circular dated April 20, 2020 (the Circular), as follows:

Votes For

% Votes For

Votes Against

% Votes Against

12,586,014

73.06%

4,641,224

26.94%

By resolution passed by way of ballot, the Shareholders approved certain amendments to the Companys 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

12,630,650

73.32%

4,596,587

26.68%

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

Votes For

% Votes For

Votes Against

% Votes Against

12,727,726

73.88%

4,499,510

26.12%

By resolution passed by way of a show of hands, the Shareholders approved the amendment to, and restatement of, the Companys Amended and Restated By-Law No. 1 (By-Law No. 1), as more particularly described in the Circular. Proxies received as of the proxy cut-off time on May 19, 2020 with respect to the Amendment and Restatement of By-Law No. 1 were voted as follows:

Votes For

% Votes For

Votes Against

% Votes Against

16,761,781

97.30%

465,026

2.70%

By resolution passed by way of a show of hands, the Shareholders approved a special resolution authorizing the Company to apply for a certificate of amendment under the CBCA to amend its Articles to increase the maximum number of directors of the Company from nine to twelve (the Board Expansion Resolution), as more particularly described in the Circular. Proxies received as of the proxy cut-off time on May 19, 2020 with respect to the amendment of the Articles were voted as follows:

Votes For

% Votes For

Votes Against

% Votes Against

16,678,338

96.82%

548,468

3.18%

No other business was voted upon at the Meeting.

Appointment of New Directors

Further to the Companys previous press releases dated April 16, 2020 and May 6, 2020, the Company is pleased to announce the appointment of Thomas K. Linton, Martin Mc Court and Mark Twaalfhoven to the Board following the approval of the Board Expansion Resolution at the Meeting.

About Sierra Wireless

Sierra Wireless (NASDAQ: SWIR) (TSX: SW) is the leading IoT solutions provider that combines devices, network services and software to unlock value in the connected economy. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. Whether it is an integrated solution to help a business securely connect edge devices to the cloud, or a software/API service to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to develop the right industry-specific solution for your next IoT endeavor. Sierra Wireless has more than 1,300 employees globally and operates R&D centers in North America, Europe and Asia. 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 http://www.linkedin.com/company/sierra-wireless and on YouTube at http://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.

Media Contact:

Kim Homeniuk

+1 (604) 233-8028

[email protected]

Investor Contact:

David Climie

+1 (604) 231-1137

[email protected]