PASADENA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE: GDOT) (the “Company”) today announced that, according to preliminary voting tabulations, stockholders have elected Saturnino Fanlo and George W. Gresham to the Company’s Board of Directors. The Company also expects Mr. Steven Streit will be re-elected based on preliminary voting results. Additionally, stockholders voted in favor of all other proposals submitted for a vote at the Annual Meeting. The vote is subject to certification by IVS Associates Inc., the independent inspectors of election.
Green Dot Board of Directors issued the following statement:
“Over the last several months, we have had the opportunity to meet and speak with many of our stockholders. We thank them for their valuable and constructive input throughout this process. We also look forward to working collaboratively with the new directors to drive long-term shareholder value. We are pleased and excited to welcome them to the Board.”
“We are exceptionally grateful to Mr. Timothy R. Greenleaf and Mr. Michael J. Moritz, for their many years of service and valuable counsel. They have made significant contributions to the Company and in many ways have been instrumental in Green Dot’s success.”
Further details regarding the results of the 2016 Annual Meeting will be contained in a Current Report on Form 8-K that Green Dot will be filing with the Securities and Exchange Commission (SEC) next week. This filing will be available at no charge at the SEC's web site at www.sec.gov. Copies will also be available at no charge at the Investor Relations section of Green Dot’s corporate website at www.greendot.com.
About Green Dot
Green Dot Corporation, along with its wholly owned subsidiaries, is a pro-consumer financial technology innovator with a mission to provide a full range of affordable and accessible financial services to the masses. Green Dot is the largest provider of reloadable prepaid debit cards and cash reload processing services in the United States. Green Dot is also a leader in mobile technology and mobile banking with its award-winning GoBank mobile checking account and a top 20 debit card issuer among all banks and credit unions in the country. Through its wholly owned subsidiary, TPG, Green Dot is additionally the largest processor of tax refund disbursements in the U.S. Green Dot's products and services are available to consumers through a large-scale "branchless bank" distribution network of more than 100,000 U.S. locations, including retailers, neighborhood financial service center locations, and tax preparation offices, as well as online, in the leading app stores and through leading online tax preparation providers. Green Dot Corporation is headquartered in Pasadena, Calif., with additional facilities throughout the United States and in Shanghai, China.
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. The potential risks and uncertainties that could cause actual results to differ from those projected include, among other things, the timing and impact of revenue growth activities, the Company’s dependence on revenues derived from Walmart and three other retail distributors, impact of competition, the Company’s reliance on retail distributors for the promotion of its products and services, demand for the Company’s new and existing products and services, continued and improving returns from the Company’s investments in new growth initiatives, potential difficulties in integrating operations of acquired entities and acquired technologies, the Company’s ability to operate in a highly regulated environment, changes to existing laws or regulations affecting the Company’s operating methods or economics, the Company’s reliance on third-party vendors, changes in credit card association or other network rules or standards, changes in card association and debit network fees or products or interchange rates, instances of fraud developments in the prepaid financial services industry that impact prepaid debit card usage generally, business interruption or systems failure, and the Company’s involvement litigation or investigations. These and other risks are discussed in greater detail in the Company’s Securities and Exchange Commission filings, including its most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on the Company’s investor relations website at ir.greendot.com and on the SEC website at www.sec.gov. All information provided in this press release is as of May 23, 2016, and the Company assumes no obligation to update this information as a result of future events or developments.