In a recent 8-K filing with the SEC, CXApp Inc., a Delaware-based prepackaged software services company, announced the outcomes of its annual meeting of stockholders held on Thursday. The virtual meeting, which took place on August 29, 2024, saw shareholders vote on several key proposals, including the election of directors and executive compensation.
Shareholders elected Di-Ann Eisnor as a Class I director with a term extending until the fiscal year ending December 31, 2026. The election was met with significant support, receiving 3,986,976 votes for and 127,164 abstentions, with no votes against.
Additionally, the compensation of the named executive officers received approval on a non-binding advisory basis, with 3,746,898 votes in favor, 261,343 against, and 105,899 abstentions.
The third proposal to ratify the selection of WithumSmith+Brown, PC as the company's independent registered public accounting firm for 2024 was also passed with overwhelming support. The accounting firm's ratification received 7,480,789 votes for, 121,636 against, and 123,125 abstentions.
CXApp Inc., which trades on The Nasdaq Stock Market under the symbols NASDAQ:CXAI for its common stock and NASDAQ:CXAIW for its warrants, emphasized the importance of these votes, which reflect shareholder confidence in the company's governance and executive leadership.
In other recent news, CXApp Inc. has seen significant developments, beginning with the appointment of Joy Mbanugo as its new Chief Financial Officer (CFO). Mbanugo, who previously held notable roles at Google (NASDAQ:GOOGL) Cloud and ServiceRocket, brings decades of financial leadership experience to CXApp Inc. This strategic move comes as the company continues to expand its operations globally.
Furthermore, CXApp Inc. has announced robust Q2 2024 earnings results, with an impressive $1.91 million in bookings. This financial growth was boosted by the company's largest expansion deal with a major financial services customer and multiyear agreements with Google, among other enterprise clients. These agreements emphasize the company's growth in recurring revenue and gross margins.
In line with these developments, CXApp Inc. has transitioned to an AI-native SaaS business model, demonstrating its confidence in scaling and creating shareholder value. The company, which operates in over 200 cities across 50 countries, continues to meet customer demands for remote office access with a reliable and scalable infrastructure.
As the company prepares for its upcoming Annual Shareholder Meeting, these recent developments reflect CXApp's strategic direction and performance in the global market.
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