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Denver-based EverCommerce Inc. (NASDAQ:EVCM), a provider of software services with a market capitalization of $1.97 billion and annual revenue of $693 million, announced the resignation of John Marquis from its Board of Directors on Monday, and the subsequent appointment of Tanner Austin on Friday.
Marquis, who was designated to the Board by Providence Strategic Growth II L.P. (PSG) under a 2021 Stockholders Agreement, resigned effective February 12, 2025. The company clarified that his departure was not due to any disagreements regarding operations, policies, or practices. According to InvestingPro data, EverCommerce maintains strong liquidity with a current ratio of 1.81, indicating healthy operational stability.
Filling the vacancy, Tanner Austin was elected as a Class III director on Friday. Austin's designation to the Board also comes via PSG, adhering to the same Stockholders Agreement.
Austin has chosen to opt out of EverCommerce's Non-Employee Director Compensation Program. The company anticipates that Austin will sign the standard form of indemnification agreement that it typically enters into with its directors.
The changes to the Board come as EverCommerce continues to navigate the competitive landscape of prepackaged software services. The company, which has its headquarters at 3601 Walnut Street, Suite 400, Denver, Colorado, did not disclose any further details regarding the transition or Austin's background.
This report is based on the company's February 14, 2025, SEC filing.
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