PMTS News & Events

CPI Card Group announced executive leadership changes designed to advance the Company's long-term strategies to grow and diversify, including expansion of its emerging digital solutions. To support CPI's growth, the following Executive leadership changes have been made: Rob Dixon, who has led the strategic growth of digital businesses, has been promoted to the role of Chief Digital Officer. He will lead the Company's businesses that rely on CPI's vast and expanding technology connections into the U.S. payments eco-system. Peggy O'Leary, who has ledPrepaid and Digital businesses and has been integral in driving CPI's physical and digital market share gains, expansion into closed-loop and healthcare payment solutions, and the acquisition of Arroweye and investment in Karta, has been promoted to Chief Commercial Officer. In this role, O'Leary will lead all customer-facing functions across the enterprise, including sales, marketing, business development, and client operations. O'Leary will be responsible for aligning CPI's commercial strategy and go-to-market execution to drive revenue growth, strengthen customer relationships, and increase monetization of the Company's expanding portfolio of physical and digital payment solutions. Toni Thompson, who has led the strategic growth and operational advancement of Secure Card and Personalization businesses, including the development of the Indiana facility and the modernization of personalization operations, has been promoted to COO. In this role, she will hold enterprise-wide accountability for operational performance, supply chain strategy, transformation, and end-to-end value creation. Her oversight includes quality, safety, supply chain, corporate sustainability, operations enablement and transformation, and core product and process innovation, with a mandate to optimize efficiency and improve margins through disciplined execution, structural improvement, and cross-functional alignment. Terra Grantham, who has been a key CPI leader over her nearly nine years with the Company, has been named Interim CFO, in addition to maintaining her responsibilities as SVP of Enterprise Strategy and Growth. Grantham replaces Jeff Hochstadt, who will continue in an advisory role with the Company to assist with the CFO transition. Ernesto Boada has been named Chief Technology Officer, reflecting the Company's heightened strategic focus to accelerate growth of CPI's technology and digital solutions. Ernesto's responsibilities include digital technology products, data platforms, AI capabilities, and platform-based payment solutions, as well as leading CPI's broader information technology function. Boada's previous title was Chief Information Officer.

CPI Card Group announced that Tricor Pacific Capital has purchased 1.9M shares of CPI common stock and Sanford Riley, chairman of the board of CPI, has purchased 0.2M shares of CPI common stock from the company's significant stockholder, Parallel49 Equity in privately negotiated transactions. Following these transactions, Parallel49's ownership position in CPI common stock has been reduced from 4.8M shares to 2.7M shares. Parallel49 originally invested in CPI in 2007 and retained ownership of nearly 60% of outstanding shares following CPI's IPO in 2015. The Tricor Family Office has been an indirect investor in CPI for nearly 20 years through an investment in the Parallel49 funds. In October 2024, the Tricor Family Office initiated a direct position in CPI common stock with a purchase of 0.25M shares in a secondary offering of CPI shares enacted by Parallel49. Following this announced transaction, the Tricor Family Office increased its direct ownership of CPI common stock to 2.2M shares, or nearly 20% of shares outstanding. Pursuant to the transactions, CPI's board of directors has approved the grant of share registration and director nomination rights to the Tricor Family Office. The Tricor Family Office and Sanford Riley have also entered into lock-up agreements with the company, restricting the sale or disposal of shares acquired in this transaction for a one-year period from the date of the agreement.