On June 18, 2021, Michael E. Hurlston notified Ubiquiti Inc. of his decision to resign from the company's board of directors, effective as of August 3, 2021. Mr. Hurlston currently serves as the chairman of the Compensation Committee and as a member of both the Audit Committee and the Nominating and Corporate Governance Committee, and Mr. Hurlston intends to continue serving on the Ubiquiti Board and the foregoing committees in the same capacity as he currently serves until August 3, 2021. Mr. Hurlston is the President and CEO and a director of Synaptics Incorporated and serves on the board of directors of Flex Ltd. ("Flex") and the Ubiquiti Board. He has informed us that he is resigning from the Ubiquiti Board at the request of the Flex board of directors, addressing the concerns of certain Flex stockholders with respect to the "overboarding" policies of the proxy advisory firm Glass Lewis & Co., which recommends a vote against directors who are sitting CEOs of publicly traded companies and sit on more than one public company board besides their own.
Ubiquiti Inc. is engaged in developing technology platforms for distributed Internet access, unified information technology, and consumer electronics for professional, home and personal use. Its solutions are categorized into three categories: high performance networking technology for enterprises, service providers and consumers. It targets the enterprise and service provider markets through its highly engaged community of service providers, distributors, value-added resellers, Webstores, systems integrators and corporate information technology (IT) professionals. It offers a portfolio of networking products and solutions for operator-owners of wireless Internet services (WISP’s), enterprises and smart homes. Its enterprise product platforms provide wireless LAN (WLAN) infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other complimentary WLAN products, along with a software platform.
