Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

ULTRALIFE CORPORATION

(ULBI)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Ultralife : 2020 Proxy Statement

06/02/2021 EDT

ULTRALIFE CORPORATION

2000 Technology Parkway

Newark, New York 14513

June 1, 2021

To Our Stockholders:

On behalf of the Board of Directors of Ultralife Corporation (the "Company") you are cordially invited to attend the 2021 Annual Meeting of Stockholders of the Company on Wednesday, July 21, 2021 at 9:00 A.M. Eastern Time at the Newark, New York headquarters of the Company located at 2000 Technology Parkway, Newark, NY 14513. We continue to actively monitor the health and safety concerns and government recommendations and restrictions related to the COVID-19 pandemic. Although we don't believe it to be the case at the present time, there still remains the possibility that it may not be advisable to hold our Annual Meeting as planned at a physical location. If we decide to hold our Annual Meeting telephonically, we will announce alternative arrangements for the Annual Meeting as promptly as practicable by press release and posting on our website (http://investor.ultralifecorporation.com), as well as through a filing with the Securities and Exchange Commission. If you plan to attend our Annual Meeting in person, please check our website prior to the meeting. As always, we encourage you to vote your shares prior to the Annual Meeting.

This year, we are again providing our proxy materials on the Internet. Accordingly, we are mailing to many of our stockholders a Notice of Internet Availability of Proxy Materials (the "Notice") instead of a paper copy of our Proxy Statement and our 2020 Annual Report to Stockholders. The Notice contains instructions about how to access those documents and vote online. The Notice also contains instructions about how each of our stockholders can also receive a paper copy of our proxy materials, including the Proxy Statement, our 2020 Annual Report to Stockholders and a form of proxy card or voting instruction card. By taking advantage of the Securities and Exchange Commission Rules permitting this distribution process, the Company will not only conserve natural resources, but also reduce our costs of printing and distributing proxy materials.

Your continued interest in the Company is greatly appreciated. We look forward to a productive Annual

Meeting.

Very truly yours,

Michael D. Popielec,

President and Chief Executive Officer

ULTRALIFE CORPORATION

2000 Technology Parkway

Newark, New York 14513

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

JULY 21, 2021

Notice is hereby given that the 2021 Annual Meeting of Stockholders of Ultralife Corporation will be held on Wednesday, July 21, 2021 at 9:00 A.M. Eastern Time at the Newark, New York headquarters of the Company located at 2000 Technology Parkway, Newark, NY 14513 for the purposes which follow below. We continue to actively monitor the health and safety concerns and government recommendations and restrictions related to the COVID-19 pandemic. Although we don't believe it to be the case at the present time, there still remains the possibility that it may not be advisable to hold our Annual Meeting as planned at a physical location. If we decide to hold our Annual Meeting telephonically, we will announce alternative arrangements for the Annual Meeting as promptly as practicable by press release and posting on our website (http://investor.ultralifecorporation.com), as well as through a filing with the Securities and Exchange Commission. If you plan to attend our Annual Meeting in person, please check our website prior to the meeting. As always, we encourage you to vote your shares prior to the Annual Meeting.

  1. To elect five directors for a term of one year and until their successors are duly elected and qualified;
  2. To approve an amendment to our 2014 Long-Term Incentive Plan increasing the number of authorized shares under the plan;
  3. To ratify the selection of Freed Maxick CPAs, P.C. as our independent registered public accounting firm for the fiscal year ending December 31, 2021; and
  4. To transact such other business as may properly come before the meeting and any adjournments thereof.

Only stockholders of record of our common stock, par value $.10 per share, at the close of business on May 25, 2021 are entitled to receive notice of, and to vote at and attend our Annual Meeting. Your vote is important. Whether or not you plan to attend our Annual Meeting, we hope that you will vote as soon as possible. If you received only a Notice of Internet Availability of Proxy Materials (the "Notice") by mail, you may vote your shares at the Internet site address listed on your Notice. You may also request a paper copy of our proxy materials by visiting the Internet site address listed on the Notice, by calling the toll-free number or by sending an e-mail to the e- mail address listed on the Notice. If you received a paper copy of the proxy materials by mail, you may vote your shares by proxy by doing any one of the following: vote at the Internet site address listed on your proxy or voting instruction card; call the toll-free number listed on your proxy or voting instruction card; or sign, date and return the enclosed proxy or voting instruction card in the pre-addressed envelope provided.

By Order of the Board of Directors

Bradford T. Whitmore,

Chair of the Board of Directors

Dated: June 1, 2021

TABLE OF CONTENTS

INFORMATION CONCERNING SOLICITATION AND VOTING..........................................................................

1

Quorum...................................................................................................................................................................

2

Vote Required.........................................................................................................................................................

2

Abstentions.............................................................................................................................................................

3

Broker Voting.........................................................................................................................................................

3

PROPOSAL 1 ELECTION OF DIRECTORS ..............................................................................................................

4

CORPORATE GOVERNANCE ...................................................................................................................................

6

General ...................................................................................................................................................................

6

Committees of the Board of Directors....................................................................................................................

6

Audit and Finance Committee................................................................................................................................

7

Corporate Development and Governance Committee ............................................................................................

7

Compensation and Management Committee..........................................................................................................

7

Stockholder Recommendations and Standards for Director Nominations .............................................................

7

Annual Meeting Attendance...................................................................................................................................

8

Executive Sessions .................................................................................................................................................

8

Communicating with the Board of Directors..........................................................................................................

8

Code of Ethics ........................................................................................................................................................

9

Related Party Transactions .....................................................................................................................................

9

Employee, Officer and Director Hedging...............................................................................................................

9

Risk Management...................................................................................................................................................

9

DIRECTOR COMPENSATION ...................................................................................................................................

9

Annual Retainers ..................................................................................................................................................

10

Director Compensation Table...............................................................................................................................

10

EXECUTIVE OFFICERS ...........................................................................................................................................

11

EXECUTIVE OFFICER COMPENSATION .............................................................................................................

12

Summary Compensation Table ............................................................................................................................

12

Narrative to Summary Compensation Table ........................................................................................................

13

Outstanding Equity Awards .................................................................................................................................

15

Option Exercises...................................................................................................................................................

16

Employment Arrangements..................................................................................................................................

16

Retirement Benefits and Potential Payments upon Termination, Change in Control or

Retirement ............................................................................................................................................................

17

Stock Ownership Guidelines ................................................................................................................................

17

PROPOSAL 2 APPROVE AN AMENDMENT TO THE ULTRALIFE CORPORATION

AMENDED 2014 LONG-TERM INCENTIVE PLAN ..............................................................................................

18

Equity Compensation Plan Information ...............................................................................................................

18

Summary of 2014 LTIP........................................................................................................................................

19

New Plan Benefits ................................................................................................................................................

22

Securities Act Registration ...................................................................................................................................

22

Tax Status of 2014 LTIP Awards .........................................................................................................................

22

Stock Price............................................................................................................................................................

23

Required Vote and Board of Directors' Recommendation...................................................................................

23

PROPOSAL 3 RATIFY THE SELECTION OF OUR INDEPENDENT REGISTERED PUBLIC

ACCOUNTING FIRM ................................................................................................................................................

24

Principal Accountant Fees and Services...............................................................................................................

24

REPORT OF THE AUDIT AND FINANCE COMMITTEE .....................................................................................

25

OTHER MATTERS ....................................................................................................................................................

26

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS .......................................................................

26

SECURITY OWNERSHIP OF MANAGEMENT......................................................................................................

27

SUBMISSION OF STOCKHOLDER PROPOSALS .................................................................................................

28

APPENDIX A AMENDMENT TO THE ULTRALIFE CORPORATION 2014 LONG-TERM

INCENTIVE PLAN .....................................................................................................................................................

A

APPENDIX B ULTRALIFE CORPORATION AMENDED 2014 LONG-TERM INCENTIVE

PLAN............................................................................................................................................................................

B

IMPORTANT

REGARDLESS OF WHETHER YOU PLAN TO ATTEND THE MEETING, WE ENCOURAGE YOU TO VOTE IN ANY OF THE MANNERS DESCRIBED IN THIS PROXY STATEMENT.

WE ALSO ENCOURAGE BENEFICIAL OWNERS TO FOLLOW THE INSTRUCTIONS PROVIDED BY THEIR BROKER REGARDING HOW TO VOTE. YOUR BROKER CANNOT VOTE YOUR SHARES FOR DIRECTOR NOMINEES OR FOR PROPOSAL 2 UNLESS YOU PROVIDE YOUR BROKER WITH VOTING INSTRUCTIONS. SEE "BROKER VOTING" BELOW FOR MORE INFORMATION.

ULTRALIFE CORPORATION

2000 Technology Parkway

Newark, New York 14513

(315) 332-7100

PROXY STATEMENT

ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON JULY 21, 2021

INFORMATION CONCERNING SOLICITATION AND VOTING

We are furnishing this proxy statement to our stockholders in connection with our Board of Directors' solicitation of proxies for use at our 2021 Annual Meeting of Stockholders, which we refer to in this proxy statement as the Meeting, to be held on Wednesday, July 21, 2021 at 9:00 A.M. Eastern Time and at any adjournments or postponements thereof. The Meeting will be held at the Newark, New York headquarters of the Company located at 2000 Technology Parkway, Newark, NY 14513. We continue to actively monitor the health and safety concerns and government recommendations and restrictions related to the COVID-19 pandemic. Although we don't believe it to be the case at the present time, there still remains the possibility that it may not be advisable to hold our Meeting as planned at a physical location. If we decide to hold our Meeting telephonically, we will announce alternative arrangements for the Meeting as promptly as practicable by press release and posting on our website (http://investor.ultralifecorporation.com), as well as through a filing with the Securities and Exchange Commission. If you plan to attend our Meeting in person, please check our website prior to the Meeting. As always, we encourage you to vote your shares prior to the Meeting.

In accordance with rules and regulations adopted by the U.S. Securities and Exchange Commission (the "SEC"), instead of mailing a printed copy of our proxy materials to each stockholder of record, we are now furnishing proxy materials to our stockholders on the Internet. If you received only a Notice of Internet Availability of Proxy Materials (the "Notice") by mail, you will not receive a printed copy of the proxy materials unless you request a copy. Instead, the Notice will instruct you how to access and review the proxy materials on the Internet. The Notice will also instruct you as to how you may submit your proxy or voting instruction card over the Internet. If you received only a Notice by mail and would like to receive a printed copy of our proxy materials, please follow the instructions for requesting those materials included in the Notice.

The Notice was first being sent to our stockholders on or about June 1, 2021 and our proxy materials were first being made available to our stockholders on or about June 1, 2021.

You may vote by proxy or in person at the Meeting. If you received only the Notice by mail, you may vote your shares online by proxy at the Internet site address listed on your Notice of Internet Availability. You may also request a paper copy of our proxy materials by (i) visiting the Internet site address, (ii) calling the toll-free number or (iii) by sending an email to the email address listed on the Notice. If you received a paper copy of the proxy materials by mail, you may vote your shares by proxy by doing any one of the following: vote at the Internet site address listed on your proxy or voting instruction card; call the toll-free number listed on your proxy or voting instruction card; or mail your signed and dated proxy or voting instruction card to our tabulator in the self-addressed envelope provided. Even

1

Disclaimer

Ultralife Corporation published this content on 02 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2021 21:01:00 UTC.


ę Publicnow 2021
All news about ULTRALIFE CORPORATION
07/23ULTRALIFE CORP : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
07/21ULTRALIFE : Battery innovations take centre stage at HIMSS
PU
07/15Ultralife Corporation to Report Second Quarter Results on July 29, 2021
GL
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) added to Russell 3000E Growth Index
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell 3000 Value Index
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell 3000 Index
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell 3000E Index
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell Small Cap Comp Value..
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell Small Cap Completene..
CI
06/25ULTRALIFE CORPORATION(NASDAQGM : ULBI) dropped from Russell 2000 Dynamic Index
CI
More news
Financials (USD)
Sales 2021 118 M - -
Net income 2021 5,70 M - -
Net Debt 2021 - - -
P/E ratio 2021 22,4x
Yield 2021 -
Capitalization 133 M 133 M -
Capi. / Sales 2021 1,13x
Capi. / Sales 2022 1,03x
Nbr of Employees 532
Free-Float 75,4%
Chart ULTRALIFE CORPORATION
Duration : Period :
Ultralife Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ULTRALIFE CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 8,30 $
Average target price 12,00 $
Spread / Average Target 44,6%
EPS Revisions
Managers and Directors
Michael D. Popielec President, Chief Executive Officer & Director
Philip A. Fain Chief Financial Officer, Secretary & Treasurer
Bradford T. Whitmore Chairman
Robert W. Shaw Independent Director
Thomas L. Saeli Independent Director