RADNOR, Pa., June 20, 2016 /PRNewswire/ -- Safeguard
Scientifics, Inc. (NYSE: SFE) today announced that Martina F. Aufiero has joined the company as
Senior Vice President and Managing Director, Technology. Ms.
Aufiero will be responsible for sourcing and deploying capital in
early- and growth-stage technology companies, providing operational
oversight and driving successful exits for Safeguard's partner
companies.
Ms. Aufiero brings more than 20 years of experience to
Safeguard, most recently serving as Managing Director and Head of
Corporate Development for a leading New
York-based financial technology firm, where she led several
key acquisitions and inorganic growth initiatives. Previously, Ms.
Aufiero served as Vice President of Principal Strategic Investing
at Goldman Sachs where she led numerous investments in the
financial technology sector as part of a $1.0 billion portfolio. On behalf of Goldman
Sachs, Ms. Aufiero served on the Boards of Directors for APX Inc.,
the Green Exchange LLC, Medley Global Advisors LLC and
LiquidityMatch LLC and as a board alternate on FXAll Inc. Her
experience as a board member includes Audit Committee Chair and
leadership roles on Compensation and Investment Committees, as well
as holding a corporate officer position for a consortium of 11
global banks. Prior to joining Goldman Sachs, Ms. Aufiero was the
Director of Mergers & Acquisitions for Moneyline Telerate
(acquired by Reuters in 2004). Previously, she was a Manager in the
strategy consulting practice of Andersen Consulting and held
several roles with the Atlantic Richfield Company (ARCO).
"Tina's background in principle investing, M&A, strategy and
board governance will prove invaluable to Safeguard as well as our
current and prospective partner companies," said Stephen T.
Zarrilli, President and CEO of Safeguard. "As we continue to build
our portfolio of companies, it's essential to access and cultivate
strong networks and ecosystems that fuel and foster innovation and
entrepreneurship. Tina brings that and more to Safeguard. I look
forward to working with her to identify new opportunities and to
advance our current partner companies towards successful exits to
drive value for Safeguard's shareholders."
"I'm thrilled to be moving back to Philadelphia and joining a company that has a
rich heritage of supporting entrepreneurs, start-ups and
growth-stage companies in the technology sector," said Ms. Aufiero.
"Safeguard continues to build upon its legacy of providing
companies in its portfolio with far more than just capital. I am
extremely excited by the opportunity that lies ahead for me to
provide entrepreneurs strong operational guidance to build value in
their businesses. I look forward to working with Steve and the
entire team at Safeguard to identify and grow the next generation
of leading technology companies and to join the vibrant
Greater Philadelphia investment
community, which has matured into the epicenter of the East Coast
entrepreneurial region."
A certified public accountant, Aufiero earned a B.S. in
economics from The Wharton School of the University of Pennsylvania and an M.B.A. from the
UCLA Anderson School of Management.
In accordance with New York Stock Exchange rules, Safeguard also
stated that it intends to issue to Ms. Aufiero an inducement award
consisting of a combination of restricted stock and restricted
stock units having an aggregate value of $300,000. The number of shares of
restricted stock and restricted stock units to be awarded, each
representing one half of the aggregate value, will be determined
based upon the average closing price of a share of Safeguard common
stock on the NYSE composite tape for the 20 consecutive trading
days immediately preceding June 30,
2016. The restricted stock and restricted stock units are
expected to be granted on or about October
28, 2016. The restricted stock will vest 25% on July 15, 2017, and in 12 equal quarterly
installments commencing on the 15th day of each October,
January, April and July thereafter, assuming Ms. Aufiero's
continued employment by Safeguard as of such date. The
restricted stock units will have a 10-year term and will vest based
on Safeguard's performance-based vesting model. The inducement
award was approved by the Compensation Committee of Safeguard's
Board of Directors, without shareholder approval, as an "employee
inducement" award under the NYSE's rules.
About Safeguard Scientifics
Safeguard Scientifics,
Inc. (NYSE:SFE) has a distinguished track record of fostering
innovation and building market leaders. For more than 60 years,
Safeguard has been providing growth capital and operational support
to entrepreneurs across an evolving spectrum of industries. Today,
Safeguard targets early- and growth-stage companies in advertising
technology, digital media, financial technology, enterprise
software, digital health and healthcare IT. For more information,
please visit www.safeguard.com or follow us on Twitter
@safeguard.
Forward-looking Statements
Except for the historical information and discussions
contained herein, statements contained in this release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Our
forward-looking statements are subject to risks and uncertainties.
The risks and uncertainties that could cause actual results to
differ materially include, among others, our ability to make good
decisions about the deployment of capital, the fact that our
partner companies may vary from period to period, our substantial
capital requirements and absence of liquidity from our partner
company holdings, fluctuations in the market prices of our publicly
traded partner company holdings, competition, our inability to
obtain maximum value for our partner company holdings, our ability
to attract and retain qualified employees, market valuations in
sectors in which our partner companies operate, our inability to
control our partner companies, our need to manage our assets to
avoid registration under the Investment Company Act of 1940, and
risks associated with our partner companies, including the fact
that most of our partner companies have a limited history and a
history of operating losses, face intense competition and may never
be profitable, the effect of economic conditions in the business
sectors in which Safeguard's partner companies operate, and other
uncertainties described in our filings with the Securities and
Exchange Commission. Many of these factors are beyond the Company's
ability to predict or control. As a result of these and other
factors, the Company's past financial performance should not be
relied on as an indication of future performance. The Company does
not assume any obligation to update any forward-looking statements
or other information contained in this press release.
SAFEGUARD CONTACTS:
For Investor Relations
John E. Shave III
Senior Vice President, Investor Relations and Corporate
Communications
610.975.4952
jshave(at)safeguard(dot)com
For Media Relations
Heather R. Hunter
Vice President, Corporate Communications
610.975.4923
hhunter(at)safeguard(dot)com
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SOURCE Safeguard Scientifics Inc.