Climb Global Solutions, Inc. Announces 2024 Annual Meeting of Stockholders

TL;DR

<b>Climb Global Solutions will hold its 2024 Annual Meeting virtually on June 13, 2024, following a year of record financial performance and strategic acquisitions.</b>

AI Summary

Climb Global Solutions, Inc. (CLMB) filed a Proxy Statement (DEF 14A) with the SEC on April 29, 2024. The 2024 Annual Meeting of Stockholders for Climb Global Solutions, Inc. will be held virtually on June 13, 2024, at 10:00 a.m. Eastern Time. The company reported record adjusted gross billings, adjusted earnings per share, and adjusted EBITDA in 2023. Climb Global Solutions has executed four acquisitions in the past four years, expanding into Western Europe. A new Enterprise Resource Planning (ERP) system is planned for deployment in the latter part of 2024. The board of directors is composed of a diversified group with significant industry and non-industry experience.

Why It Matters

For investors and stakeholders tracking Climb Global Solutions, Inc., this filing contains several important signals. The virtual format for the annual meeting aims to increase accessibility for stockholders to participate and engage with the company's leadership. The company's continued focus on acquisitions and ERP system implementation signals a strategy for sustained growth and operational efficiency.

Risk Assessment

Risk Level: — Climb Global Solutions, Inc. shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain new material financial information or significant operational risks.

Analyst Insight

Stockholders should review the proxy materials to understand the proposals to be voted on at the annual meeting and consider the company's strategic direction and board composition.

Key Numbers

• 2024-06-13 — Annual Meeting Date (2024 Annual Meeting of Stockholders)
• 2023 — Record Year (Company achieved record adjusted gross billings, adjusted EPS, and adjusted EBITDA)
• 4 — Acquisitions (Number of acquisitions in the past four years)

Key Players & Entities

• Climb Global Solutions, Inc. (company) — Registrant name
• Dale Foster (person) — Chief Executive Officer (CEO)
• June 13, 2024 (date) — Date of Annual Meeting
• 2023 (date) — Year of record financial performance
• Western Europe (location) — Region of acquisition expansion

FAQ

Risk Factors

• ERP System Implementation [medium — operational]: The company plans to deploy a new Enterprise Resource Planning (ERP) system later in the year, which could present operational challenges during integration.
• Synergy Realization from Acquisitions [medium — market]: Maximizing expected synergies from four recent acquisitions in Western Europe requires continued effort and may not be fully realized.

Industry Context

Climb Global Solutions, Inc. operates in the wholesale distribution of computer and peripheral equipment and software sector.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing the solicitation of proxies.

What Investors Should Do

1. Review the proxy statement for details on proposals and director nominees.
2. Participate in the virtual annual meeting on June 13, 2024.
3. Evaluate the company's strategic progress, including acquisition synergies and ERP implementation.

Key Dates

• 2024-06-13: 2024 Annual Meeting of Stockholders — Key date for stockholder engagement and voting on company matters.

Year-Over-Year Comparison

This is a Definitive Proxy Statement (DEF 14A) filing for the 2024 Annual Meeting, following previous filings related to company operations and financial reporting.

Key Financial Figures

• $0.68 — . To date we have kept our dividend at $0.68 per share annually, paid on a quarterly
• $0.01 — Company&rsquo;s common stock, par value $0.01 per share (the &ldquo;Common Stock&rdqu

Filing Documents

• tm2412661d1_def14a.htm (DEF 14A) — 421KB
• tm2412661d1_def14aimg001.jpg (GRAPHIC) — 140KB
• tm2412661d1_def14aimg002.jpg (GRAPHIC) — 111KB
• tm2412661d1_def14aimg003.jpg (GRAPHIC) — 151KB
• tm2412661d1_def14aimg004.jpg (GRAPHIC) — 138KB
• 0001104659-24-054110.txt (&nbsp;) — 1167KB

From the Filing

DEF 14A 1 tm2412661d1_def14a.htm DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under &sect;240.14a-12 CLIMB GLOBAL SOLUTIONS, INC. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. CLIMB GLOBAL SOLUTIONS, INC. 4 Industrial Way West, 3rd Floor Eatontown, New Jersey 07724 MESSAGE FROM THE BOARD OF DIRECTORS Dear Climb Global Solutions Stockholders: You are cordially invited to attend the 2024 Annual Meeting of Stockholders (the &ldquo;Meeting&rdquo;) of Climb Global Solutions, Inc., a Delaware corporation (&ldquo;Climb&rdquo; or the &ldquo;Company&rdquo;), which is scheduled to be held on June 13, 2024 at 10:00 a.m., Eastern Time, and any postponements or adjournments thereof. This year&rsquo;s Meeting will be a virtual meeting of stockholders, conducted via live audio webcast. You will be able to attend the Meeting and vote by submitting questions during the Meeting via live audio webcast: www.virtualshareholdermeeting.com/CLMB2024. Board Governance & Oversight I am very pleased to share that in 2023 our Company had record adjusted gross billings, adjusted earnings per share and adjusted EBITDA. These results are attributable, among other things, to the hard work and diligence of many committed individuals. Our Company continues to be led by Dale Foster, Chief Executive Officer (CEO), and our capable management team. The results achieved over the past few years reflect a concerted effort by our team to drive revenue growth with corresponding operating efficiencies across the enterprise. Our team has executed four acquisitions over the past four years, spearheading our move into Western Europe. More work is needed to maximize the expected synergies from these, particularly as we prepare to deploy a new Enterprise Resource Planning (ERP) system in the later part of this year. Our board remains confident as it works with our team to evaluate and consider potential acquisitions that will be accretive and generate incremental stockholder value. The board has evolved into a well-diversified group of directors who possess considerable experience in and outside of the industry. Our board includes active and formerly seated public and private company executives who bring strategic and operational expertise to the boardroom. We provide unique perspectives that benefit and support our management team as the Company matures and executes its aspirational strategic plan. As a result of our board members&rsquo; high level of engagement, we have developed a strong culture of openness, accountability, inclusion, and rigorous and respectful debate. Our board remains focused on providing careful oversight of the ongoing business, particularly as we make acquisitions in jurisdictions that are new to the Company and our management team. I was elected to the role of chair when I joined the board six years ago, subsequently implementing a multi-year board refreshment. The economic value creation realized during that period has been enormous, achieving a 5x increase in our stock price, and more recently, over 40% total return, as measured by stock price appreciation plus dividend payments, since our last annual meeting on June 13 th , 2023. While freeing up balance sheet capital and making acquisitions is one aspect of our strategy, driving organic revenue growth from our legacy business continues to be our primary focus. We strive to be a more meaningful player in the highly concentrated wholesale software distribution space as we garner greater market share in each of the targeted verticals we have identified. Our board is attuned to the competitive landscape, as three of our six independent directors come directly from within the industry. To date we have kept our dividend at $0.68 per share annually, paid on a quarterly basis. For over six years the Company has had excess balance sheet cash, generated substantial cash-flow, and carried virtually no debt. We believe we&rsquo;ve been prudent by electing to invest in growth opportunities while also returning a portion of our net income to stockholders. Conclusion Through a disciplined combination of organic and acquisitive revenue growth we have achieved significant financial milestones. We remain vigilant in our efforts to create value for

View Full Filing

View this DEF 14A filing on SEC EDGAR