Westell Announces 2022 Annual Meeting Results and Walter J. Skipper Joins Westell’s Board of Directors
AURORA, Ill., November 11, 2022 – Westell Technologies, Inc., a leading provider of high performance network infrastructure solutions, today announced voting results from its 2022 Annual Meeting of Stockholders held on November 8, 2022 (the “Annual Meeting”). At the Annual Meeting, the stockholders voted on the proposal for the Election of Directors and cast their votes as described below.
Each nominee was duly elected at the Annual Meeting to serve as a director until the Company’s 2023 Annual Meeting of Stockholders and received the number of votes indicated beside his name below.
|Kirk R. Brannock||16,096,203||133,815||0|
|Timothy L. Duitsman||16,100,168||129,850||0|
|Robert W. Foskett||15,667,424||562,594||0|
|Robert C. Penny III||15,454,092||775,926||0|
|Walter J. Skipper||16,099,474||130,544||0|
|Cary B. Wood||16,093,033||136,985||0|
|Mark A Zorko||15,833,133||396,885||0|
Upon being re-elected to the Board of Directors at the Annual Meeting, each Director, except Mr. Duitsman, received a restricted stock grant for 4,166 shares of Class A Common Stock. As this was Mr. Skipper’s initial election, he received a restricted stock grant for 6,666 shares of Class A Common Stock. The awards will vest 100% on the first anniversary of the grant date.
Mr. Duitsman, CEO, President and fellow Board member at Westell, said, “Westell is fortunate to have Walt Skipper join our Board of Directors. Walt attended Westell board meetings since 2008 when he started as Westell’s lead counsel. Over those years, he has helped the company in many ways and shared his vast knowledge. I am looking forward to his continued participation as a full Board member.”
Walter J. Skipper, retired as a lawyer with Quarles & Brady LLP (“Q&B”) in September 2022 where he served as a partner. Mr. Skipper joined the firm in January 1992. While at Q&B, Walt Skipper practiced business law and helped complete business transactions and resolve business disputes for businesses of all sizes. He has experience in numerous business matters from formation, financing, securities issuances, and expansion of a business, through acquisition or merger, sale of business, going public, spinoffs, recapitalizations and reorganizations, and going private. Mr. Skipper also assisted with corporate governance and compliance planning.
As a member of both the Audit and Compensation Committees, Westell is hopeful that Mr. Skipper will help the company and management to create additional shareholder value.
Mr. Skipper previously passed his CPA exam in 1986 and his CMA in 1987. Mr. Skipper served as a director for Mason Wells, Inc. since January 2019 and as a director of Byron Group LLC since 2004. Mr. Skipper holds a Bachelor of Science in Accounting, Economics and Finance from Marquette University, and a JD from the University of Wisconsin Law School.
Westell is a leading provider of high-performance wireless infrastructure solutions focused on innovation and differentiation at the edge of communication networks where end users connect. The Company's portfolio of products and solutions enable service providers and network operators to improve performance and reduce operating expenses. With millions of products successfully deployed worldwide, Westell is a trusted partner for transforming networks into high quality, reliable systems. For more information, please visit www.westell.com.
Westell Technologies, Inc. (Pink: WSTL) trades on the Pink Open Market. Investors can find Real- Time quote and market information for the Company on www.otcmarkets.com.
President and Chief Executive Officer
Released November 11, 2022