01.07.2022 01:00

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

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TORONTO, June 30, 2022 /CNW/ - Pivotree Inc. (TSXV: PVT) ("Pivotree" or the "Company"), announced today the results of its annual and special meeting of shareholders held on June 28, 2022 (the "Meeting"). All of the resolutions proposed, as set out in the Company's management information circular dated May 19, 2022, were duly passed by the shareholders of the Company.

PIvotree Inc. Logo (CNW Group/Pivotree Inc.)

Each of the seven (7) nominees listed in the Management Information Circular of the Company was elected as a Director of the Company, with specific voting results as follows:

Director Nominee

Votes For

%

Votes Withheld

%

Ashlee Aldridge

16,765,367

99.991

1,500

0.009

Brian Beattie

16,763,927

99.982

2,940

0.018

Scott Bryan

16,588,637

98.937

178,230

1.063

William Di Nardo

16,765,151

99.990

1,716

0.010

Vernon Lobo

16,598,077

98.993

168,790

1.007

William Morris

16,596,637

98.985

170,230

1.015

Bryan O'Neil

16,596,637

98.985

170,230

1.015

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 "Plan") of the Company was approved.

Incentive Plan Awards

Pivotree also announced that it has granted an aggregate of 37,048 restricted share units (each an "RSU") and 150,039 stock options (each, an "Option") to certain executive officers of the Company pursuant to the Company's Equity Incentive Plan (the "Plan"). Each RSU will vest over a period of three years and the Options bear an exercise price of $4.04 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 23,512 deferred share units (each an "DSU-A") to certain non-executive officers of the Company in respect of their services to the Company from April 1, 2022 to June 30, 2022 and an aggregate of 84,159 deferred share units (each an "DSU-B") in respect of their services for the ensuing 12 months from July 1, 2022 to June 30, 2023 pursuant to the Plan. All of the DSU-As vest effective as of the date of grant and the DSU-Bs vest on a quarterly schedule beginning on September 30, 2022 and ending June 30, 2023. The DSU-As and DSU-Bs may be settled, at the option in 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 copy of the Plan is attached as Appendix C to the Company's final prospectus dated October 23, 2020,  which is available on the Company's profile on SEDAR at www.sedar.com.

About Pivotree

Pivotree, a leader in frictionless commerce designs, integrates and manages digital platforms in Commerce, Data Management, and Supply Chain for over 250 major retail and branded manufacturers globally. Pivotree provides a combination of application support and managed hosting with digital strategy and software implementation services. 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

Neither 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.

SOURCE Pivotree Inc.

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