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Identiv, Inc. (NASDAQ:INVE), a leading provider of physical security and secure identification currently trading at $3.12 per share with a market capitalization of $74 million, announced significant changes to its board structure and corporate governance following approval by shareholders at the 2025 Annual Meeting on June 10, 2025. According to InvestingPro analysis, the company appears undervalued based on its Fair Value estimates. The company’s board will move from a classified structure to all directors standing for election annually, starting with the 2026 Annual Meeting. This governance change comes as InvestingPro data shows the company facing some financial challenges, with its stock down nearly 26% over the past six months. InvestingPro subscribers have access to 12 additional key insights about Identiv’s financial health and market position.
The shareholder-approved declassification amendment and an amendment for officer exculpation were filed with the Delaware Secretary of State and became effective immediately. The amendments align with Delaware law and include provisions for officer exculpation from liability under specific circumstances.
In addition, Identiv’s board approved new corporate governance guidelines, including a requirement for directors to tender irrevocable resignations if they fail to receive a majority of "for" votes in uncontested elections. The company has received such resignations from several directors, including Gary Kremen, Richard Kuntz, Mick Lopez, Kirsten Newquist, Laura Angelini, and James Ousley, who resigned effective immediately prior to the 2025 Annual Meeting.
The company also ratified the appointment of BPM LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved the compensation of its named executive officers on a non-binding advisory basis.
The Amended and Restated Bylaws, effective June 10, 2025, include updated advance notice requirements for stockholder nominations and proposals, increased quorum requirements for stockholder meetings, and revised provisions for director removal and filling vacancies. Additionally, the bylaws now contain a forum selection provision, designating Delaware courts as the exclusive forum for certain legal actions.
These corporate governance changes reflect Identiv’s commitment to aligning with best practices and enhancing accountability to shareholders. The company’s board will consist of directors serving one-year terms, providing shareholders with a more direct say in board composition annually. While the company maintains a strong liquidity position with a current ratio of 20.51 and trades at an attractive Price-to-Book ratio of 0.49, InvestingPro’s comprehensive Research Report, available for over 1,400 US stocks, provides deeper insights into the company’s financial health and growth prospects.
In other recent news, Identiv Inc. reported its first-quarter 2025 earnings, which included a slight beat on earnings per share (EPS), coming in at -$0.21 compared to the forecasted -$0.25. The company’s revenue for the quarter was $5.3 million, slightly above the expected $5.25 million, although it marked a decline from $6.7 million in the same quarter last year. Identiv is currently transitioning its production from Singapore to Thailand, with over 75% of its volume already relocated. This strategic move is part of the company’s efforts to enhance operational efficiency and align with market trends. Recent product developments focus on IoT and BLE technology, which are expected to play a significant role in the company’s future growth. The company is also exploring mergers and acquisitions as part of its Perform, Accelerate, Transform (PAT) strategy. Identiv’s outlook for the second quarter projects revenue between $4.9 million and $5.3 million. The company continues to navigate macroeconomic challenges while emphasizing its strategic partnerships and product innovations.
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