Pivotree Inc. Announces Results from its Annual and Special Meeting of Shareholders

TORONTO--(BUSINESS WIRE)--Pivotree Inc. (TSXV: PVT) (“Pivotree”), a leading provider of frictionless commerce solutions and services, announced today the results of its annual and special meeting of shareholders held on June 25, 2024 (the “Meeting”). All of the resolutions proposed, as set out in the Company's management information circular dated May 8, 2024 (the “Management Information Circular”), were duly passed by the shareholders of the Company and ratified at the Meeting.

The increase in the number of directors of the Company from seven (7) to eight (8) was ratified by the shareholders. Each of the eight (8) nominees listed in the Management Information Circular of the Company was elected as a Director of the Company for the ensuing year: Ashlee Aldridge, Brian Beattie, Scott Bryan, William Di Nardo, Sarah Joyce, Vernon Lobo, William Morris and Bryan O’Neil.

In addition, the resolution to appoint BDO Canada LLP as auditor of the Company for the ensuing year at a remuneration to be fixed by the Board of Directors was approved and the ordinary resolution to approve the omnibus equity incentive plan (the “Incentive Plan”) of the Company was also approved.

Annual Grant of Incentive Plan Awards

Pivotree also announced that it will grant as of July 1, 2024 an aggregate of 269,284 stock options (each, an "Option") and 55,567 restricted share units (each an "RSU") to certain executive officers of the Company pursuant to the Incentive Plan. The RSUs will vest over a period of three years from the date of grant. The Options bear an exercise price of $1.20 per share, vest over a period of four years from the date of grant and will expire 10 years from the date of grant.

The Company granted an aggregate of 244,863 deferred share units (each an "DSU") to certain non-executive officers of the Company in respect of their services to the Company for the ensuing 12 months from July 1, 2024 to June 30, 2025 pursuant to the Plan. The DSUs vest on a prorated basis during the period of services to the Company, and fully vest by June 30, 2025. The DSUs may be settled, at the option of the Company, in cash or common shares of the Company, or a combination of cash and common shares, upon the applicable director ceasing to be a director of the Company.

A summary of the Incentive Plan is provided in the Management Information Circular, which is available on the Company's profile on SEDAR+ at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Pivotree

Pivotree, a leader in frictionless commerce, strategizes, designs, builds, and manages digital Commerce, Data Management, and Supply Chain solutions for over 200 major retailers and branded manufacturers globally. With a portfolio of digital products as well as managed and professional services, Pivotree provides businesses of all sizes with true end-to-end solutions. Headquartered in Toronto, Canada, with offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader. For more information, visit www.pivotree.com or follow us on LinkedIn.