Company: SONM
Filing Date: 2025-06-20
Form Type: PRRN14A
Source: 0001213900-25-056078
Chunk: 16

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-06-20
Form: PRRN14A
Chunk 16
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 Board of Sonim contesting the prior rejection of the AJP and Orbic nominations and reaffirming its intent to pursue all available avenues to ensure its highly qualified slate of AJP/Orbic Nominees are presented to stockholders for election at the 2025 Annual Meeting. •On April10, 2025, AJP and Orbic filed Amendment No. 6 to Schedule 13D with the SEC disclosing the submission of the April10, 2025 letter to the Board of Sonim refuting the purported rejection of the AJP/Orbic Nominees. •On April15, 2025, Sonim and Clay Crolius, the Company’s Chief Financial Officer, entered into an amendment to his employment agreement in order to increase the severance payment to Mr.Crolius as a result of his termination following a change in control. •On April16, 2025, AJP and Orbic filed a preliminary proxy statement on Schedule 14A with the SEC. •On April17, 2025, the Board of Directors of Sonim approved the acceleration of vesting of previously granted restricted stock unit (“ RSU”) awards for 81 grant recipients totaling 733,157 RSUs, including Hao (Peter) Liu (70,671 RSUs), Clay Crolius (33,922 RSUs) and Charles Becher, Chief Commercial Officer and General Manager of North America (70,671 RSUs). •On April21, 2025, Sonim adopted a stockholder rights agreement (i.e., a poison pill plan) (the “ Rights Pla n”), which is effective until April21, 2026. The Rights Plan was purported adopted: (i) in connection with the ongoing process of the evaluation of Sonim’s strategic alternatives by the Special Committee and (ii) in response to AJP/Orbic forming a Section 13 group and its subsequent Proposal. While Sonim and the Board of Directors publicly stated that the Rights Agreement was intended to enable all stockholders to realize the full value of their investment in the Company and afford the Special Committee adequate time to consider any further strategic proposals, the Rights Plan, in practice, serves to operate as an additional entrenchment device for the incumbent directors contributing to the destruction of long -termstockholder value. •On April24, 2025, AJP and Sonim filed a Verified Complaint (the “ Complaint”) in the Delaware Court of Chancery against Sonim and certain members of the Company’s Board