- Concludes Voting “FOR” Green Dot’s Director Nominees is in the Best Interest of Stockholders -
- Green Dot Urges Stockholders to Follow Egan-Jones’ Recommendation and Vote on the WHITE Proxy Card –
- This is the Second Independent Proxy Advisory Firm to Support Green Dot and CEO -
In arriving at its conclusion, Egan-Jones stated the following1:
Commenting on the Egan-Jones report, Green Dot said:
“We are pleased Egan-Jones supports the reelection of Green Dot’s highly-qualified and experienced incumbent director nominees, concluding that no change to the Company’s Board of Directors is warranted. Egan-Jones’ recommendation reinforces our strong belief that Green Dot has the right Board and the right leadership in place to continue to oversee the successful execution of our Six-Step Plan to enhance long-term stockholder value.”
The following chart quantifies Green Dot’s share price performance in relation to key developments that have transpired over the past six months:
Event | Price Change | |||
Six month price change following new initiatives disclosure (12/2/15 – 5/16/16) | +36 percent | |||
One day price change following Q4 earnings and 2016 guidance (2/24/16 – 2/25/16) | +18 percent | |||
One day price change following Uber contract announcement (3/17/16 – 3/18/16) | +4 percent | |||
One day price change following Q1 earnings and increased 2016 guidance (5/4/16 – 5/5/16) | +2 percent | |||
One day price change after ISS recommendation (5/11/16 – 5/12/16) | -2 percent | |||
One day price change after Glass Lewis recommendation (5/13/16 – 5/16/16) | +2 percent |
“As evidenced by Green Dot’s stock price performance, we believe the market has clearly spoken. Do not interrupt the Company’s momentum by reconstituting the Board. We urge stockholders to follow Egan-Jones’ recommendation and vote “FOR” our director nominees today.”
Green Dot strongly encourages stockholders to vote on the WHITE
proxy card “FOR” the reelection of the Company’s highly-qualified
and experienced director nominees
Green Dot stockholders that have questions or need assistance in voting their shares on the WHITE proxy card should contact:
INNISFREE M&A INCORPORATED
Stockholders call toll-free: (877) 800-5186
Banks and Brokers call collect: (212) 750-5833
About Green Dot
Forward-Looking Statements
This press release may be deemed to contain forward-looking statements,
which are subject to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those contained in the forward-looking statements
contained in this press release. The potential risks and uncertainties
that could cause actual results to differ from those projected include,
among other things, the timing and impact of revenue growth activities,
the Company’s dependence on revenues derived from Walmart and three
other retail distributors, impact of competition, the Company’s reliance
on retail distributors for the promotion of its products and services,
demand for the Company’s new and existing products and services,
continued and improving returns from the Company’s investments in new
growth initiatives, potential difficulties in integrating operations of
acquired entities and acquired technologies, the Company’s ability to
operate in a highly regulated environment, changes to existing laws or
regulations affecting the Company’s operating methods or economics, the
Company’s reliance on third-party vendors, changes in credit card
association or other network rules or standards, changes in card
association and debit network fees or products or interchange rates,
instances of fraud developments in the prepaid financial services
industry that impact prepaid debit card usage generally, business
interruption or systems failure, and the Company’s involvement
litigation or investigations. These and other risks are discussed in
greater detail in the Company’s
1 Permission to quote from the Egan-Jones report was neither sought nor obtained and emphasis has been added in certain places.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160517005862/en/
Source:
For Green Dot Corporation
Investor Relations
IR@greendot.com
or
Media
Relations
Brian Ruby, 203-682-8286
Brian.Ruby@icrinc.com
or
John
Christiansen/Meghan Gavigan, 415-618-8750
jchristiansen@sardverb.com
/ mgavigan@sardverb.com