Mr. Gad Forced to Once Again Set the Record Straight at Paragon – Hopefully For the Last Time
Hesham "Sham" Gad, Paragon Technologies' (OTC PINK:PGNT) largest stockholder with a 28.2% stake, has issued a statement criticizing the incumbent board's last-minute decision to spend over $500,000 on director insurance just before the 2025 Annual Meeting.
Gad argues this move follows a concerning pattern of self-serving actions by the current board, including implementing a poison pill and issuing stock grants. He emphasizes that while he supports reasonable D&O insurance, the company has operated without any D&O claims for over a decade under his leadership.
The statement urges shareholders to vote using the BLUE proxy card for new directors focused on transparency, fiscal responsibility, and long-term value creation.
Hesham "Sham" Gad, il maggiore azionista di Paragon Technologies (OTC PINK:PGNT) con una partecipazione del 28,2%, ha rilasciato una dichiarazione criticando la decisione dell'attuale consiglio di amministrazione di spendere all'ultimo minuto oltre 500.000 dollari per un'assicurazione per i direttori, appena prima dell'Assemblea Annuale 2025.
Gad sostiene che questa mossa segue un preoccupante schema di azioni a favore degli interessi personali del consiglio attuale, tra cui l'adozione di una poison pill e la concessione di stock grant. Sottolinea che, pur supportando un'assicurazione D&O ragionevole, la società ha operato senza alcuna richiesta di risarcimento D&O per oltre un decennio sotto la sua guida.
La dichiarazione invita gli azionisti a votare utilizzando la scheda proxy BLU per eleggere nuovi direttori orientati alla trasparenza, responsabilità finanziaria e creazione di valore a lungo termine.
Hesham "Sham" Gad, el mayor accionista de Paragon Technologies (OTC PINK:PGNT) con una participación del 28.2%, ha emitido una declaración criticando la decisión de última hora de la junta directiva actual de gastar más de 500,000 dólares en un seguro para directores justo antes de la Asamblea Anual de 2025.
Gad argumenta que esta acción sigue un patrón preocupante de decisiones que benefician a la junta actual, incluyendo la implementación de una poison pill y la emisión de concesiones de acciones. Destaca que, aunque apoya un seguro D&O razonable, la compañía ha operado sin reclamaciones D&O durante más de una década bajo su liderazgo.
La declaración insta a los accionistas a votar usando la tarjeta proxy AZUL para elegir nuevos directores enfocados en la transparencia, la responsabilidad fiscal y la creación de valor a largo plazo.
헤샴 "샴" 가드는 Paragon Technologies(OTC PINK:PGNT)의 최대 주주로서 28.2%의 지분을 보유하고 있으며, 2025년 연례 주주총회 직전에 이사회가 50만 달러 이상을 이사 보험에 지출하기로 한 막판 결정을 비판하는 성명을 발표했습니다.
가드는 이번 조치가 독소 조항(poison pill) 도입과 주식 부여 등 현 이사회가 자기 이익을 위해 행동하는 우려스러운 패턴을 따른다고 주장합니다. 그는 합리적인 D&O 보험은 지지하지만, 자신의 리더십 아래 회사는 10년 넘게 D&O 청구 없이 운영되어 왔다고 강조합니다.
성명은 주주들에게 투명성, 재정 책임, 장기 가치 창출에 중점을 둔 새로운 이사 선임을 위해 파란색 위임장 카드를 사용해 투표할 것을 촉구합니다.
Hesham "Sham" Gad, principal actionnaire de Paragon Technologies (OTC PINK:PGNT) détenant une participation de 28,2%, a publié une déclaration critiquant la décision de dernière minute du conseil d'administration en place de dépenser plus de 500 000 dollars pour une assurance des administrateurs juste avant l'Assemblée Générale Annuelle 2025.
Gad affirme que cette décision s'inscrit dans un schéma préoccupant d'actions intéressées du conseil actuel, incluant la mise en place d'une « poison pill » et l'attribution de stock-options. Il souligne que, bien qu'il soutienne une assurance D&O raisonnable, la société a fonctionné sans aucune réclamation D&O pendant plus d'une décennie sous sa direction.
La déclaration invite les actionnaires à voter en utilisant la carte de procuration BLEUE pour élire de nouveaux administrateurs axés sur la transparence, la responsabilité financière et la création de valeur à long terme.
Hesham "Sham" Gad, größter Aktionär von Paragon Technologies (OTC PINK:PGNT) mit einem Anteil von 28,2%, hat eine Stellungnahme veröffentlicht, in der er die kurzfristige Entscheidung des amtierenden Vorstands kritisiert, kurz vor der Hauptversammlung 2025 über 500.000 US-Dollar für eine Direktorenversicherung auszugeben.
Gad argumentiert, dass dieser Schritt einem besorgniserregenden Muster eigennütziger Maßnahmen des aktuellen Vorstands folgt, darunter die Einführung einer Giftpille und die Ausgabe von Aktienzuwendungen. Er betont, dass er zwar eine angemessene D&O-Versicherung unterstützt, das Unternehmen jedoch unter seiner Führung seit über einem Jahrzehnt ohne D&O-Schadensfälle operiert hat.
Die Stellungnahme fordert die Aktionäre auf, mit der BLAUEN Vollmachtskarte für neue Direktoren zu stimmen, die sich auf Transparenz, finanzielle Verantwortung und langfristige Wertschöpfung konzentrieren.
- Largest stockholder owns significant 28.2% stake, demonstrating strong alignment with shareholder interests
- Company has maintained clean D&O claim record for over a decade under Gad's leadership
- Board's decision to spend over $500,000 on last-minute insurance policy
- Implementation of poison pill and stock grants potentially diluting shareholder value
- Apparent corporate governance issues and potential violations of company's governing documents
Encourages All Stockholders to Vote on the BLUE Proxy Card Ahead of the Company's Annual Meeting
NEW YORK, NY / ACCESS Newswire / June 27, 2025 / Hesham "Sham" Gad, who beneficially owns approximately
"This morning, less than one business day before the Company's Annual Meeting, I was informed that the incumbent directors wanted to immediately dispense with over
Our shareholders know better - this is not about them, but simply another effort, to benefit these directors at shareholder expense. It is disappointing, though not surprising, to see the current Board of Paragon once again resort to misinformation and personal attacks to avoid accountability. To be clear, I have never objected to the Company having reasonable D&O insurance policies, and in fact, we have had sufficient coverage for years evidenced by the simple fact that for over a decade Paragon has NEVER had single D&O claim under my leadership. What has changed is not the Company's exposure, but the risks introduced by the behavior of this Board. On the other hand, as a significant stockholder, I care very deeply about protecting the Company from BOTH risk and wasteful spending - two elements this Board has exposed the Company to in spades.
The Board in hastily approving this self-serving purchase disregarded the Company's own governing documents, our settlement agreement, and potentially their fiduciary duties. In doing so, they continue to validate why they are so out of touch with Paragon shareholders. As such, it was vital I advised them of their violations and potential liability exposure.
This Board has used substantial Company resources first to entrench themselves, then to defend that entrenchment, and now, just days before the Annual Meeting, to attempt to insulate themselves from the consequences of their poor leadership. As we approach the Annual Meeting, this episode highlights exactly why change is needed. We need leadership that focuses on transparency, fiscal responsibility, and long-term value - not self-preservation.
We encourage our fellow stockholders to continue voting on the BLUE card for a slate of directors that values transparency, progress and fulfilling its obligation to act in the best interest of stockholders.
We thank you for your consideration and support to date. Let's work together to build something stronger - for today and for the future."
PLEASE VOTE YOUR BLUE PROXY CARD TODAY.
Further information and resources in connection with Mr. Gad's campaign for change, accountability and a stockholder-first culture at Paragon are available at www.saratogaproxy.com/PGNT.
For inquiries, please reach out to the address below: hmgad78@gmail.com
Saratoga Proxy Consulting LLC
John Ferguson
(212) 257-1311/(888) 368-0379
info@saratogaproxy.com
SOURCE: Sham Gad
View the original press release on ACCESS Newswire
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