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Climb Global Solutions, Inc. (NASDAQ:CLMB), a $477 million market cap technology distributor with a "GREAT" financial health rating according to InvestingPro, has reported the departure of its Chief Information Officer (CIO) Vito Legrottaglie, according to a recent SEC filing. The separation became effective Friday, June 13, 2025, following an agreement between Legrottaglie and the company on Thursday, June 12, 2025.
The company, which operates in the wholesale distribution of computer and peripheral equipment and software and has achieved impressive revenue growth of 42% in the last twelve months, has finalized a separation agreement with Legrottaglie. Under the terms of the agreement, Legrottaglie will receive cash compensation totaling $51,666.68 for his services as a consultant, payable in two installments on July 15 and August 15, 2025. This compensation is contingent upon his continued service as a consultant through each payment date. Should his consulting tenure end before August 15, 2025, the payments will be prorated based on the number of days of consultancy provided and will be paid out on August 15, 2025.
Additionally, the agreement includes the accelerated vesting of 1,807 time-vested shares and restricted stock units, along with 2,755 performance-vested restricted stock units. This compensation is in lieu of any other benefits or payments that may have been due under the company’s Executive Severance and Change in Control Plan.
The details of the separation agreement are outlined in the Exhibit 10.1 of the 8-K filing and are incorporated by reference into the report. This departure comes as Climb Global Solutions continues to navigate the competitive landscape of technology distribution.
The company’s filing with the SEC provides a transparent account of the executive transition, ensuring that shareholders and the public are informed of these changes in leadership. The information is based on the press release statement filed with the SEC.
In other recent news, Climb Global Solutions Inc. reported impressive financial results for the first quarter of 2025, exceeding earnings expectations. The company achieved an earnings per share of $0.81, surpassing analyst forecasts, and recorded a 49% increase in revenue to $138 million compared to the previous year. Climb Global Solutions’ gross profit rose by 37% to $23.4 million, and net income increased by 35% to $3.7 million. The company attributes its success to strategic partnerships and innovation initiatives, particularly its collaboration with cybersecurity firm Darktrace (LON:DARK). Additionally, Climb Global Solutions is expanding its market presence in the U.S. and Europe. During its recent annual shareholder meeting, the company elected five directors and ratified Deloitte & Touche LLP as its independent registered public accounting firm for 2025. The meeting also included a non-binding advisory vote on executive compensation, with a majority favoring annual votes. These developments reflect Climb Global Solutions’ ongoing commitment to growth and strategic expansion.
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