ServiceSource International, Inc. Announces 2022 Annual Meeting Results

Strategic Insights -

At the 2022 annual meeting of stockholders of ServiceSource International, Inc. (the "Company") held on May 12, 2022, stockholders voted on several proposals. A total of 87,415,894 shares of common stock, representing 87.5% of the outstanding shares entitled to vote, were represented at the meeting. The stockholders elected seven nominees for director, authorized the Board to amend the Company's certificate of incorporation to effect a reverse stock split, approved the Company's 2021 executive compensation, and ratified the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm.

Key Takeaways:

  • 87,415,894 shares of common stock, representing 87.5% of the outstanding shares entitled to vote, were represented at the meeting.
  • The stockholders elected seven nominees for director, including Andrew M. Baker, Jane Okun Bomba, John R. Ferron, John R. Harris, John A. Meyer, Gary B. Moore, and Richard G. Walker.
  • The stockholders voted to authorize the Board to amend the Company's certificate of incorporation to effect a reverse stock split of the Company's common stock in a ratio of not less than one-for-five and not more than one-for-ten.
  • The stockholders voted, on a non-binding advisory basis, to approve the Company's 2021 executive compensation, with 73,798,890 shares voting in favor and 1,444,085 shares voting against.
  • The stockholders voted to ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2022, with 86,748,590 shares voting in favor and 9,855 shares voting against.
  • Andrew M. Baker received 76,243,663 votes in favor, 0.99 million against, and 0.45 million abstaining.
  • Jane Okun Bomba received 76,516,654 votes in favor, 0.73 million against, and 0.45 million abstaining.

Statistics:

  • 99,938,408 shares of common stock were outstanding as of March 18, 2022, the record date.
  • 87,415,894 shares of common stock were represented at the meeting, representing 87.5% of the outstanding shares entitled to vote.
  • The stockholders voted 72,354,383 in favor and 12,811,914 against authorizing the Board to amend the Company's certificate of incorporation.
  • The stockholders voted 73,798,890 in favor and 1,444,085 against approving the Company's 2021 executive compensation.
  • The stockholders voted 86,748,590 in favor and 9,855 against ratifying the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm.

Sources:

  • SEC Form 8-K filing (0001310114false00013101142022-05-122022-05-12)
  • ServiceSource International, Inc. definitive proxy statement filed with the Securities and Exchange Commission on April 1, 2022 (file number: 0001310114)