Reports Cite Gad's Underperformance and Poor Track Record at Paragon - Urge Shareholders to Vote the White Proxy Card
EASTON, PA / ACCESS Newswire / June 25, 2025 / Paragon Technologies, Inc. (OTC PK:PGNT), a diversified holding company, today announced that both Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co. ("Glass Lewis"), the leading independent proxy advisory firms, have recommended that Paragon shareholders vote FOR all of the Board's nominees to the Board of Directors at the Company's upcoming Annual Meeting of Shareholders scheduled for Monday, June 30, 2025.
In their respective reports, both ISS and Glass Lewis concluded that the current Paragon Board is best positioned to oversee the Company's strategy, drive long-term value creation, and act in the best interests of shareholders, in direct contrast to Hesham "Sham" Gad's agenda.
"We are delighted that ISS and Glass Lewis-after careful and independent analysis-have emphatically endorsed the full slate of Paragon's highly qualified directors and have highlighted the fundamental flaws in dissident Sham Gad's approach," said David Lontini, Paragon's Chairman of the Board. "These endorsements reflect the strength of our Board, the significant progress we've made, and the clear path we've laid out to deliver value for all shareholders. Shareholders should be confident that our nominees are the right choice to lead Paragon forward, rejecting any attempts to return to the past."
Director Tim Eriksen further commented, "The reports confirm what we have been saying all along: if an independent third party looked at all the available information, they would reach the same conclusions that the Board did. Sham Gad dramatically underperformed the market as CEO, falsely claimed to be a US citizen for decades, broke employment laws, misappropriated company funds multiple times, and has a life-long pattern of deceit. So when he claims the Board's nominees 'offer no strategy, no experience, and no track record,' you can be fairly certain that he is lying. We have created and implemented a detailed strategic plan, we have stronger board and C-suite experience, a better track record of creating value for shareholders, and a record of good corporate governance."
The endorsements follow a contested campaign by former CEO Sham Gad, whose proposed slate, according to both advisory firms, lacks sufficient rationale and fails to make a compelling case for change at the board level. Indeed, ISS specifically noted Mr. Gad's "dramatic underperformance" and "poor corporate governance" while CEO.
We publicly urge Mr. Kevin Ting and all other shareholders that may have voted for Mr. Gad's slate to re-evaluate their decision to support Mr. Gad in light of these independent findings, coupled with Mr. Gad's history of violating federal and employment laws, and his refusal to be transparent with shareholders. Why go back to the past versus the path forward with strong capital allocation, governance, and integrity?
The choice is clear. We urge all shareholders to vote the WHITE proxy card. If you previously voted the blue card, you can revoke that vote by subsequently voting the WHITE proxy card. Your vote matters. Protect your investment. Vote FOR Paragon's nominees.
If you have questions or need assistance, please contact:
Alliance Advisors LLC
150 Clove Rd, #400
Little Falls Township, NJ 07424
(844) 202- 6169
Email: Paragon@allianceadvisors.com
About Paragon Technologies
Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate, and investments. For additional information please visit: www.pgntgroup.com.
Investor Relations Contact:
Alliance Advisors IR
ParagonIR@allianceadvisors.com
SOURCE: Paragon Technologies Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/electronics-and-engineering/independent-proxy-advisory-boards-iss-and-glass-lewis-reject-gads-slate-1042970
