DSS, Inc. awards 1 million shares to director’s firm

In a recent development, DSS, Inc. (NYSE American: DSS), a company specializing in paperboard containers and boxes, has entered a material definitive agreement resulting in the award of one million shares to Heng Fai Holdings Limited, a firm beneficially owned by Mr. Heng Fai Ambrose Chan, who is also a director of DSS, Inc. The announcement comes as DSS shares have shown significant volatility, with a beta of 1.74 and a notable 14.65% return over the past week, according to InvestingPro data. This transaction, part of the company’s 2020 Employee, Director and Consultant Equity Incentive Plan, was approved by the board of directors on January 31, 2025, and publicly reported on Thursday, February 6, 2025.

The awarded shares are intended as compensation for services rendered by HFHL to DSS, Inc. The company’s decision to issue these shares is consistent with its ongoing efforts to incentivize and compensate its key contributors through equity-based awards.

DSS, Inc., headquartered in West Henrietta, New York, operates within the manufacturing sector, focusing on the production of paperboard containers and boxes. The company is incorporated in New York and has a fiscal year ending on December 31.

The stock issuance to HFHL is significant as it involves a substantial number of shares and is connected to a director of the company. Shareholders and potential investors in DSS, Inc. may view this event as a reinforcement of the relationship between the company and its board members, potentially influencing the company’s governance and strategic direction.

The information reported here is based on a press release statement and details provided in the company’s Form 8-K filed with the Securities and Exchange Commission.

In other recent news, DSS, Inc. held its annual meeting where shareholders elected seven directors and ratified the appointment of Grassi & Co. Certified Public Accountants, P.C. as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024. The directors elected include Ambrose Chan Heng Fai, José Escudero, Wai Leung William Wu, Tung Moe Chan, Hiu Pan Joanne Wong, Shui Yeung Frankie Wong, and Lim Sheng Hon Danny. The election saw substantial support with the least number of votes in favor being for Lim Sheng Hon Danny.

Shareholders also approved the compensation of the named executive officers in an advisory vote. The proposal received a significant number of votes in favor. The recent developments demonstrate a high level of shareholder confidence in the company’s leadership and financial oversight, as indicated by a 78.25% turnout of the aggregate shares outstanding and eligible to vote as of the record date.

These results, filed with the Securities and Exchange Commission (SEC) in a Form 8-K by DSS, Inc., underline the recent developments within the company. The company’s interim Chief Executive Officer, Jason Grady, signed off on the filing.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.