ePlus (NASDAQ: PLUS) Appoints Melissa J. Ballenger to Board of Directors

ePlus inc. recently announced the appointment of Melissa J. Ballenger, 54, to its Board of Directors. This decision was made on January 3, 2025, in accordance with Article III of the Amended and Restated Bylaws of the company.

With this appointment, the Board of Directors at ePlus increased from seven to eight directors, with Ballenger filling the additional slot. Her term on the Board will continue until the next Annual Meeting of Shareholders, and until her successor is duly elected and qualified. Ballenger has also been assigned to the Audit Committee of the Board.

Notably, there are no familial relationships between Ballenger and any director or executive officer within the company, and there are no transactions that she’s involved in necessitating disclosure under Item 404(a) of Regulation S-K. The Board has independently verified Ballenger’s status as an independent director as per the applicable Nasdaq Marketplace Rules.

In terms of compensation, Ballenger will be remunerated in line with the current compensation structure for independent members of the Board at ePlus. Additionally, a pro-rata adjustment will be made for her partial-year service, including a restricted stock grant as part of the ePlus 2024 Non-Employee Director Long-Term Incentive Plan. The full details of the compensation program can be found in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the SEC on July 23, 2024, under the heading “Director Compensation.”

Furthermore, a press release issued by ePlus inc. on January 7, 2025, officially announced Ballenger’s appointment to the Board. The press release highlighting this event is attached to the current report as Exhibit 99.1.

This information was disclosed as part of a Form 8-K report filed with the Securities and Exchange Commission on January 7, 2025. The company vows to uphold its commitment to corporate governance with this new addition to its Board of Directors.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ePlus’s 8K filing here.

ePlus Company Profile

ePlus inc., together with its subsidiaries, provides information technology (IT) solutions that enable organizations to optimize their IT environment and supply chain processes in the United States and internationally. It operates through two segments, Technology and Financing. The Technology segment offers hardware, perpetual and subscription software, maintenance, software assurance, and internally provided and outsourced services; managed services or infrastructure and cloud; and enhanced maintenance support, service desk, storage-as-a-service, cloud hosted and managed, and managed security services; and professional, staff augmentation, cloud consulting, consulting, and security services.