FirstService Announces Election of Directors

Rhea-AI Summary

FirstService (TSX: FSV) (NASDAQ: FSV) held its annual shareholder meeting virtually on April 02, 2025, where eight director nominees were successfully elected to serve until the next annual meeting. The election results showed strong shareholder support, with most directors receiving over 90% approval.

Notable voting results include Jay S. Hennick receiving 89.26% approval with the highest withhold votes at 10.74%, while Yousry Bissada and Elizabeth Carducci received the highest approval rates at 98.81%. Shareholders also approved PricewaterhouseCoopers LLP as the auditor and passed a non-binding advisory resolution on executive compensation.

FirstService, a North American property services leader, operates through FirstService Residential and FirstService Brands, generating over US$5.2 billion in annual revenues with approximately 30,000 employees across North America.

Positive

• Strong shareholder support with most directors receiving over 90% approval votes
• Substantial annual revenue of US$5.2 billion
• Large workforce of 30,000 employees across North America
• Significant insider ownership indicating management alignment with shareholders

Negative

• Notable opposition to Jay S. Hennick's election with 10.74% withhold votes

News Market Reaction

-2.61%

1 alert

-2.61% News Effect

On the day this news was published, FSV declined 2.61%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, April 02, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX: FSV) (NASDAQ: FSV) (“FirstService”) today announced that at its annual meeting of shareholders, held virtually earlier today, the eight director nominees listed in FirstService’s management information circular dated February 12, 2025 (the “Circular”) were elected as directors of FirstService. Directors have been elected to serve until the close of the next annual meeting of shareholders. The detailed results of the vote are set out below.

Nominee	Votes For	% Votes For	Votes Withheld		% Votes Withheld
Yousry Bissada	29,196,775	98.814%	350,561		1.186	%
Elizabeth Carducci	29,196,981	98.814%	350,355		1.186	%
Steve H. Grimshaw	27,419,070	92.797%	2,128,266		7.203	%
Jay S. Hennick	26,373,017	89.257%	3,174,319		10.743	%
D. Scott Patterson	29,016,667	98.204%	530,669		1.796	%
Frederick F. Reichheld	28,860,731	97.676%	686,605		2.324	%
Joan Eloise Sproul	29,103,907	98.499%	443,429		1.501	%
Erin J. Wallace	27,757,798	93.943%	1,789,538		6.057	%

FirstService shareholders also approved the appointment of PricewaterhouseCoopers LLP as the auditor of FirstService for the ensuing year and a non-binding advisory resolution on FirstService’s approach to executive compensation, all as set out in the Circular.

About FirstService Corporation
FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential – North America’s largest manager of residential communities; and FirstService Brands – one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchise systems.

FirstService generates more than US$5.2 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The common shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol “FSV”, and are included in the S&P/TSX 60 Index. More information is available at www.firstservice.com.

COMPANY CONTACTS:

D. Scott Patterson
Chief Executive Officer        
(416) 960-9566

Jeremy Rakusin
Chief Financial Officer
(416) 960-9566

FAQ

What was the voting outcome for FirstService 's (FSV) 2025 director elections?

Eight directors were elected with majority approval, with voting support ranging from 89.26% to 98.81%. The highest approval went to Yousry Bissada and Elizabeth Carducci at 98.81%.

Which FirstService (FSV) director received the highest withhold votes in the 2025 election?

Jay S. Hennick received the highest percentage of withhold votes at 10.743%, with 3,174,319 shares withheld.

What additional measures were approved at FirstService's (FSV) 2025 annual meeting?

Shareholders approved PricewaterhouseCoopers LLP as auditor and passed a non-binding advisory resolution on executive compensation.

What is FirstService 's (FSV) current annual revenue and employee count?

FirstService generates over US$5.2 billion in annual revenues and employs approximately 30,000 people across North America.