KVH’s Independent and Highly Qualified Director Candidates Have Substantial Industry Experience and Bring Fresh Perspectives to the Board
Explains Why VIEX’s Nominees Would Not Be Appropriate Directors for KVH
Encourages Shareholders to Vote on the BLUE Card
MIDDLETOWN, R.I.–(BUSINESS WIRE)–KVH Industries, Inc., (Nasdaq: KVHI) (“KVH” or the “Company”), today released a presentation to shareholders explaining why shareholders should elect the Company’s two highly qualified candidates – Cielo Hernandez and Cathy-Ann Martine-Dolecki – to the Board of Directors (the “Board”) by voting on the BLUE proxy card ahead of KVH’s Annual Meeting of Shareholders to be held on June 17, 2021.
The presentation is available at: https://protectkvh.com/wp-content/uploads/2021/05/KVH-Industries-On-Course-For-Long-Term-Value_May-2021.pdf.
In the presentation, KVH highlights its business momentum, demonstrated by KVH’s outperformance of peers1 and strong first quarter financial results, including 16% revenue growth and a 48% increase in AgilePlans revenue.2
KVH is confident that its long-term strategy to (1) focus on further accelerating its AgilePlans connectivity as a service (CaaS) subscription model, (2) commercialize inertial navigation products with its Photonic Integrated Chip (PIC) technology and (3) advance its KVH Watch Internet of Things (IoT) platform, will continue to drive growth, boost profitability and position the Company to generate improved returns for shareholders.
In the presentation, the Company also provides information and analysis that demonstrate why the individuals nominated by VIEX Capital Inc. (“VIEX”) are not right for the KVH Board. These candidates have troubling records, no relevant industry experience and have put forward no plan or ideas for KVH’s business that go beyond the generic. Most troublingly, three members of the VIEX group, Eric Singer, Peter Shaper and Potomac Capital, have been found by courts of law to have breached or aided and abetted the breach of fiduciary duties to public company shareholders.
KVH ENCOURAGES SHAREHOLDERS TO VOTE ON THE BLUE PROXY CARD TODAY
Vote FOR a KVH Board that is overseeing a long-term strategy that is working
Do NOT vote for VIEX and the Singer group – Discard the white proxy card
For additional information, please visit www.ProtectKVH.com.
About KVH Industries, Inc.
KVH Industries, Inc., (Nasdaq: KVHI), is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. The market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the Company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.
KVH is a registered trademark of KVH Industries, Inc.
Additional Information and Where to Find It
The Company has filed a definitive proxy statement and a form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2021 Annual Meeting of Stockholders (the “Definitive Proxy Statement”). THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING BLUE PROXY CARD AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The Company’s stockholders may obtain the Definitive Proxy Statement, any amendments or supplements to the Definitive Proxy Statement and other documents filed by the Company with the SEC free of charge at the SEC’s website at www.sec.gov. Copies are also available free of charge at the Company’s website at www.kvh.com.
Certain Information Regarding Participants
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s stockholders in connection with the matters to be considered at the Company’s 2021 Annual Meeting of Stockholders. Information about the Company’s directors and executive officers is available in the Definitive Proxy Statement filed with the SEC on May 17, 2021 and, with respect to directors and executive officers appointed following such date, will be available in certain of the Company’s other SEC filings made subsequent to the date of the Definitive Proxy Statement. To the extent holdings of the Company’s securities by such directors or executive officers have changed since the amounts printed in the Definitive Proxy Statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC.
Certain statements in this communication constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” “will,” “should,” “would,” “may” and “could” or similar words or expressions are generally forward-looking in nature and not historical facts. Any statements that refer to outlook, expectations or other characterizations of future events, circumstances or results are also forward-looking statements. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are specified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its Quarterly Reports on Form 10-Q for any subsequent periods under headings such as “Cautionary Statement Regarding Forward-Looking Information,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other filings and furnishings made by the Company with the SEC from time to time. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
D.F. King & Co., Inc.