Climb Global Solutions, Inc 8-K, filed Feb 22, 2022
Climb Global Solutions, Inc. (CLMB)
About this 8-K
Climb Global Solutions, Inc filed this 8-K on February 22, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 22, 2022, the Board of Directors (the “Board”) of Wayside Technology Group, Inc. (the “Company”), appointed Greg Scorziello as a director of the Company based on the recommendation of the Nominating and Corporate Governance Committee of the Board. Mr. Scorziello has been appointed as a member of the Nominating and Corporate Governance, and Risk and Security Committees.
As compensation for his service on the Board, Mr. Scorziello will receive the Company’s standard compensation for non-employee directors. There are no arrangements or understandings between Mr. Scorziello and any other persons pursuant to which Mr. Scorziello was named a director of the Company. There are no arrangements or understandings between Mr. Scorziello and any other persons pursuant to which he was selected as a director, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with his appointment to the Board, Mr. Scorziello will enter into the Company’s standard form of indemnification agreement, a copy of which was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2017 filed with the Securities and Exchange Commission on May 5, 2017. Pursuant to the terms of this agreement, the Company may be required, among other things, to indemnify Mr. Scorziello for certain expenses, including attorneys’ fees, judgments, fines and settlement amounts incurred by him in any action or proceeding arising out of his service as one of our directors.
Item 7.01 Regulation FD Disclosure.
On February 22, 2022, the Company issued a press release announcing the appointment of Mr. Scorziello as a director of the Company. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 104 | Press release issued by Wayside Technology Group, Inc. dated February 22, 2022. Cover Page Interactive Data File (formatted as inline XBRL). |
SIGNATURE
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.
| WAYSIDE TECHNOLOGY GROUP, INC. | ||
| | ||
Date: February 22, 2022 | By: | /s/ Andrew Clark | |
| Name: | Andrew Clark | |
| Title: | Chief Financial Officer | |
2
Exhibit 99.1
February 22, 2022
Wayside Technology Group Elects Greg Scorziello to Board of Directors
EATONTOWN, N.J., February 22, 2022 (GLOBE NEWSWIRE) – The Board of Directors (the "Board") of Wayside Technology Group, Inc. (NASDAQ: WSTG), a value-added global information technology (IT) channel company providing innovative sales and distribution solutions for emerging technology vendors, has elected Greg Scorziello to the Board effective February 22, 2022. With the appointment of Scorziello, Wayside's Board consists of seven directors, six of whom are independent under the listing standards of the NASDAQ.
Greg Scorziello brings over 30 years of experience creating and building international operations for early stage and mid-size companies such as EMC when it was a sub 100 person entity. Currently, Greg serves as a board member, strategic advisor and investor for DC Byte, a global information service provider for the Data Center sector. In addition, he is a strategic advisor to Appvia.io as well as an investor and director of Cobblestone Ventures Ltd. Prior to his roles with DC Byte and Appvia, Scorziello has held a number of international leadership and general management positions with a variety of US headquartered companies including Immuta, Infinidat, Activio and IBM.
"Greg adds a breadth and depth of industry experience that will be of great value to the board and company. His knowledge of the European marketplace will be helpful with our existing and expanded business across the continent,” said Jeff Geygan, Wayside's Chairman of the Board. "I believe Greg adds an important dimension to our Board, offering additional diversity and perspective as the company executes its long-term plan."
Scorziello is a graduate of the Isenberg School of Management, UMass Amherst where he earned a Bachelor of Business Administration (B.B.A.), Accounting and Finance.
"I look forward to aiding the team at Wayside as they continue to expand around the globe, especially in the European marketplace. The team at Wayside has built a dynamic organization that delivers easy access to superior IT solutions for resellers and businesses around the globe," said Scorziello. "This is an exciting time for Wayside and all businesses as we collectively emerge from the pandemic lock-down and I'm very optimistic about the road ahead."
About Wayside Technology Group
Wayside Technology Group, Inc. (NASDAQ: WSTG) is a global value-added IT channel and solutions company specializing in emerging technologies. Wayside operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter, TechXtend and Cloud Know How. The Company provides IT
distribution and solutions for emerging companies in the Security, Data Management, Cloud, Connectivity, Storage & HCI, Virtualization, and Software & ALM industries.
Additional information can be found by visiting www.waysidetechnology.com.
Company Contact:
Drew Clark
Chief Financial Officer
1-732-389-0932
Drew@WaysideTechnology.Com
Investor Relations Contact:
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
WSTG@elevate-ir.com
Source: Wayside Technology Group, Inc.
Released February 22, 2022