Eplus Inc. Reports Director Changes and Compensation Updates
Ticker: PLUS · Form: 8-K · Filed: Sep 16, 2024 · CIK: 1022408
| Field | Detail |
|---|---|
| Company | Eplus Inc (PLUS) |
| Form Type | 8-K |
| Filed Date | Sep 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-compensation, director-changes
Related Tickers: EPL
TL;DR
EPLUS board shakeup: Director Cooper out, new directors in, exec pay changes filed.
AI Summary
On September 12, 2024, Eplus Inc. filed an 8-K report detailing several key events. These include the departure of Director Michael L. Cooper, the election of new directors, and changes in officer compensation arrangements. The filing also covers the submission of matters to a vote of security holders and includes financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and compensation adjustments, which are typical for public companies and do not indicate immediate financial distress or significant operational risk.
Key Numbers
- 001-34167 — SEC File Number (Identifies the company's filing history with the SEC.)
- 54-1817218 — IRS Employer Identification No. (Company's tax identification number.)
- 20240912 — Report Date (The earliest date of events reported in the 8-K.)
Key Players & Entities
- Eplus Inc. (company) — Registrant
- Michael L. Cooper (person) — Departing Director
- Delaware (jurisdiction) — State of incorporation
- Herndon, Virginia (location) — Principal executive offices
- NASDAQ (company) — Exchange
FAQ
Who has been elected as a new director to the Eplus Inc. board?
The filing indicates the election of new directors but does not name them in the provided text.
What specific compensation arrangements have been updated for certain officers?
The filing states that compensatory arrangements of certain officers are covered, but the specific details of these arrangements are not provided in the excerpt.
What was the reason for Michael L. Cooper's departure from the board?
The filing notes the departure of Michael L. Cooper but does not specify the reason for his departure.
What matters were submitted to a vote of security holders?
The filing indicates that matters were submitted to a vote of security holders, but the specific matters are not detailed in the provided text.
When was Eplus Inc. incorporated?
Eplus Inc. was incorporated in Delaware, as indicated by the filing.
Filing Stats: 905 words · 4 min read · ~3 pages · Grade level 10.5 · Accepted 2024-09-16 16:19:51
Filing Documents
- form8-k.htm (8-K) — 41KB
- ex10_1.htm (EX-10.1) — 43KB
- 0001022408-24-000073.txt ( ) — 216KB
- plus-20240912.xsd (EX-101.SCH) — 4KB
- plus-20240912_lab.xml (EX-101.LAB) — 21KB
- plus-20240912_pre.xml (EX-101.PRE) — 16KB
- form8-k_htm.xml (XML) — 4KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. At the Annual Meeting, there were present, in person or by proxy, holders of 24,742,575 shares of our common stock, or 92.02% of all shares of common stock eligible to be voted at the meeting. The final voting results on all matters are disclosed below. 1. Election of the following directors to serve until the next annual meeting of shareholders or until their successors are elected and qualified (included as Proposal 1 in the Proxy Statement). Each nominee for director was elected by a vote of the shareholders as follows: For Withheld Broker Non-Vote Rene Bergeron 23,068,248 732,914 941,413 Bruce M. Bowen 23,330,142 471,020 941,413 John E. Callies 23,023,960 777,202 941,413 Ira A. Hunt, III 22,916,522 884,640 941,413 Mark P. Marron 23,341,154 460,008 941,413 Maureen F. Morrison 22,945,060 856,102 941,413 Ben Xiang 22,258,653 1,542,509 941,413 Each nominee was elected a director of e Plus. 2. Advisory vote on the compensation of our named executive officers, as disclosed in our Proxy Statement (included as Proposal 2 in the Proxy Statement). The proposal was approved by a vote of shareholders as follows: For: 22,182,717 Against: 1,478,011 Abstain: 140,434 Broker non-votes: 941,413 3. Ratification of the selection of Deloitte & Touche LLP as our independent registered accounting firm for fiscal year 2025 (included as Proposal 3 in the Proxy Statement). The proposal was approved by a vote of shareholders as follows: For: 24,358,251 Against: 373,394 Abstain: 10,930 4. Approval of the 2024 Non-Employee Director Long-Term Incentive Plan (included as Proposal 4 in the Proxy Statement). The proposal was approved by a vote of shareholders as follows: For: 22,599,821 Against: 1,092,102 Abstain: 109,239 Broker non-votes: 941,413
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) The following exhibits are filed as part of this report: Exhibit No. Description 10.1 ePlus inc. 2024 Non-Employee Director Long-Term Incentive Plan (filed herewith) 104 Cover Page Interactive Date File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. e Plus inc. By: /s/ Elaine D. Marion Elaine D. Marion Chief Financial Officer Date: September 16, 2024