PLUS 8-K
Eplus Inc (PLUS)
8-K
2025-01-07
For: 2025-01-03
View Original
Added on
April 12, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 3, 2025
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction
of incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
(Address of principal executive offices, including zip code)
(703 ) 984-8400
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act
of 1934 (§240.12b-2 of this chapter):
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(d) On January 3, 2025, pursuant to Article III of the Amended and Restated Bylaws of ePlus inc. (the “Company”), the Board of
Directors (the "Board") of the Company increased the size of the Board from seven to eight directors and appointed Melissa J. Ballenger, 54, to the Board, filling the vacancy. Ms. Ballenger's term will continue until the Company's next
Annual Meeting of Shareholders and until her successor is elected and qualified. Ms. Ballenger was also appointed to the Audit Committee of the Board. There are no family relationships between Ms. Ballenger and any director or executive
officer of the Company and there are no transactions in which Ms. Ballenger has a direct or indirect material interest requiring disclosure under Item 404(a) of Regulation S-K.
The Board further affirmatively determined that Ms. Ballenger is an independent director within the meaning of the applicable
Nasdaq Marketplace Rules. Ms. Ballenger will be compensated for her service as a director in accordance with the Company’s current compensation program for independent members of the Board, with a pro-rata adjustment for her initial
partial-year service on the Board, including a pro-rata restricted stock grant pursuant to the ePlus 2024 Non-Employee Director Long-Term Incentive Plan. Such compensation program is described in more detail in the Company’s Definitive
Proxy Statement on Schedule 14A filed with the SEC on July 23, 2024, under the heading “Director Compensation.”
A copy of the press release issued by the Company on January 7, 2025, announcing the appointment of Ms. Ballenger is attached
hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) The following exhibits are filed as part of this report:
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Exhibit No.
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Description
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99.1
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Press release dated January 7, 2025, issued by ePlus inc.
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Cover Page Interactive Date File (embedded within the Inline XBRL Document) |
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.
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ePlus inc.
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By: /s/ Elaine D. Marion
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Elaine D. Marion
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Chief Financial Officer
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Date: January 7, 2025
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EXHIBIT 99.1
ePlus Welcomes Melissa Ballenger as a New Member of the Board of Directors
HERNDON, VA – January 7, 2025 – ePlus inc. (NASDAQ: PLUS – news) today announced that Melissa Ballenger, Adjunct Professor at the Raymond A. Mason School of Business at William & Mary, has been appointed as a member of its Board of
Directors. Ms. Ballenger has also been appointed as a member of the Audit Committee of the ePlus Board of Directors.
From 2020 to 2023, Ms. Ballenger served as the Chief Financial Officer of Mosaic, a financial technology platform for sustainable home
improvements. From 2019 to 2020 she served as the Chief Financial Officer of Cross River Bank, a leader in innovative financial technology products services. Ms. Ballenger served as a public-company finance executive from 2003 through 2019,
including Chief Financial Officer roles at the global firms State Street (EMEA), Santander and TD.
“Melissa has a vast range of experience within the financial services industry,
along with international expertise that will provide invaluable perspective as we continue to grow our business,” said Mark Marron, CEO and president of ePlus. “Having served in financial leadership roles for most of her career, her ability to
consider unfolding risks and opportunities across the strategic growth areas of our business will assist the Board in providing oversight and direction to enhance shareholder value.”
“I’m thrilled to be joining the Board of Directors of ePlus and have the opportunity to work as part of the team that has generated such a strong
record of steady growth,” said Ms. Ballenger. “ePlus has a long history of smart strategy and strong execution, driven by its ability to correctly read market conditions and trends, and then help its customer organizations to weather changing
dynamics. I’m excited to be a part of that.”
Ms. Ballenger also served as Principal Accounting Officer and Controller at Mastercard, a global technology company in the payments industry.
Earlier in her career, she drove finance function transformation at Freddie Mac and served as an auditor at Arthur Andersen. She has provided strategic advice to multiple
Boards of Directors, informing their governance over critical corporate priorities in both stable and challenging environments. Her executive scope included strategic and financial planning and execution, capital markets and treasury management,
operational efficiency and risk management, and M&A.
Ms. Ballenger is a Certified Public Accountant (CPA) and also is credentialed as a Certified Director by the National Association of Corporate
Directors (NACD). She graduated summa cum laude from the College of William & Mary, with a Bachelor of Business Administration–Accounting degree. She currently serves on the Board of Trustees of the William & Mary Business School
Foundation.
About ePlus inc.
ePlus is a customer-first, services-led, and results-driven industry leader offering transformative technology solutions and
services to provide the best customer outcomes. Offering a full portfolio of solutions, including artificial intelligence, security, cloud and data center, networking and collaboration, as well as managed, consultative and professional services,
ePlus works closely with organizations across many industries to successfully navigate business challenges. With a long list of industry-leading partners and more than 2,300 employees, our expertise has been honed over more than three decades,
giving us specialized yet broad levels of experience and knowledge. ePlus is headquartered in Virginia, with locations in the United States, United Kingdom, Europe, and Asia‐Pacific.
For more information, visit www.eplus.com, call 888-482-1122, or email [email protected]. Connect
with ePlus on LinkedIn, X, Facebook,
and Instagram.
Contact:
Kleyton Parkhurst, SVP
ePlus inc.
703-984-8150