This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

USA Technologies’ Board Of Director Nominees Underscore Company’s Commitment To Excellence And Superior Performance

USA Technologies, Inc. (NASDAQ: USAT) (“USAT” or the “Company”), a leader of wireless, cashless payment and M2M telemetry solutions for self−serve, small−ticket retailing industries, today provided shareholders with a review of its nominees for election to the board of directors at the upcoming 2012 Annual Meeting of Shareholders to be held on Thursday, June 28, 2012 at 9:00 a.m.

As part of its aggressive turnaround strategy, the USAT Nominating Committee and executive leadership identified several key areas of experience that they considered to be critical to enable USAT to continue its growth trajectory. The following chart illustrates the strong alignment between the USAT slate of nominees and the qualifications deemed necessary to most effectively lead USAT and to deliver value to all shareholders:


Key Areas*


Stephen Herbert


Steven Barnhart


Joel Brooks


William Schoch


Deborah Arnold


Frank Petito




Jack Price


William Reilly

Public company leadership experience

  X   X   X       X   X   X   X   X
Finance & deal experience       X   X           X   X        

Payments industry experience

  X           X   X                

Wireless industry experience

  X               X       X        

High volume transaction processing experience

  X   X       X   X   X   X        

Bringing technology to market

  X   X   X                   X   X
Scaling a growth company       X       X           X   X   X

Sales & marketing leadership

  X           X   X       X   X   X

Public company board experience

  X   X   X               X   X   X

*Full director biographies can be viewed by clicking on each of the hyperlinked director names in the above table or by visiting the USA Technologies website at .

In the past week, the nation’s leading independent proxy advisory firms Institutional Shareholder Services (“ISS”), Glass Lewis & Co. (“Glass Lewis”), and Egan-Jones Proxy Services have all recommended that USAT shareholders vote FOR ALL of USAT’s highly-qualified board of director nominees. Importantly, the proxy advisory firms recognize that USAT’s plan is delivering positive results.


To date, USAT has focused more on relaying what it believes to be the more pertinent data points to shareholders – the Company’s true owners – which are the plan to enhance profitability and the collective qualifications of the USAT board that it believes will ensure the successful execution of this plan. USAT believes, however, that there are several events worth pointing out so that shareholders understand the reluctance to welcome Bradley Tirpak or any of his candidates into USAT’s boardroom. Due to the factors outlined below, among others, USAT is understandably and genuinely concerned that the election of Tirpak and his associates would significantly diminish the reputation of USAT’s board as a whole and ultimately risks destruction of shareholder value.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,060.49 -142.88 -0.78%
S&P 500 2,089.72 -18.06 -0.86%
NASDAQ 4,942.05 -37.8510 -0.76%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs