Wakefield, MA – June 13, 2008 - A technology management consulting firm specializing in providing premium IT services, Edgewater Technology, Inc. (NASDAQ: EDGW, www.edgewater.com, “Edgewater” or the “Company”), announced today that the Company held its Annual Stockholders’ Meeting on June 11, 2008 in Boston, Massachusetts.
The meeting was held for the following purposes:
- To elect eight directors to serve until the 2009 Annual Meeting of Stockholders;
- To approve the proposed Edgewater Technology, Inc. 2008 Employee Stock Purchase
Plan (“2008 ESPP Plan”);
- To approve the proposed Edgewater Technology, Inc. 2008 Omnibus Incentive Plan
(“2008 Omnibus Plan”);
- To approve the proposed Edgewater Technology, Inc. 2008 Interim Incentive Plan
(“2008 Interim Plan”);
- To ratify the appointment of Deloitte & Touche LLP by the Company’s Audit Committee
as independent auditors to audit the accounts of Edgewater Technology, Inc. for the
fiscal year ending December 31, 2007; and
- To transact any other business that may properly come before the Annual Meeting.
The elected eight board members include:
- Shirley Singleton, Chairman, President and CEO of Edgewater Technology;
- Wayne Wilson, former President and COO of PC Connection, Inc.
- Clete Brewer, President and a Director of Sport Clips, Inc;
- Paul Flynn, Executive Vice President and Commercial Loan Officer of Danversbank;
- Paul Guzzi, President and CEO of the Greater Boston Chamber of Commerce;
- Nancy Leaming, former CEO and President of Tufts Health Plan;
- Michael Loeb, President and CEO of Loeb Enterprises; and
- Barry White, Senior Partner with Foley Hoag, LLP.
Approximately 92% of all issued and outstanding shares were represented at the Annual
Stockholders’ Meeting and each nominee described above received at least 96% of the votes cast
to elect directors.
Additionally, the Company’s stockholders approved all of the other ballot items, which included
the proposed 2008 ESPP Plan, the proposed 2008 Omnibus Plan and the proposed 2008 Interim
Plan. The Company’s stockholders also ratified the appointment of Deloitte & Touche LLP as the
Company’s independent public accountants for the year ending December 31, 2008.
It should be noted that both the Edgewater Technology, Inc. 2008 Omnibus Incentive Plan (the
“2008 Omnibus Plan”) and the Edgewater Technology, Inc. 2008 Interim Incentive Plan were
approved by the stockholders of the Company. Given this outcome, and as noted in the Proxy
Statement, the Company will proceed only with the use of 2008 Omnibus Plan, which will now
become effective.
The Company’s next Annual Meeting is planned to be held in June 2009.
Contacts:
Kevin R. Rhodes, Chief Financial Officer
Timothy R. Oakes, Investor Relations
(781) 246-3343
ir@edgewater.com