Richard Willis, CEO of Speed Commerce, bought 2,300 shares of Speed Commerce (Stock Symbol: SPDC) at $3.25 per share for a total amount of $7.5 thousand on August 26, 2014.
Speed Commerce is headquartered in Richardson, Texas.
On August 12, 2014, Jeffrey B. Zisk, a member of the Board of Directors of Speed Commerce, Inc. (the “Company”) and president of Speed Commerce, Corp., a wholly-owned subsidiary of the Company, established a pre-arranged stock trading plan to sell up to approximately 8.6% of his shares of the Company’s stock. Under this trading plan Mr. Zisk may sell, on a periodic basis without further direction from him, up to one million shares of the Company’s stock, in accordance with certain minimum price and volume limitations and the terms and conditions set forth in the 10b5-1 Plan, prior to July 31, 2015. This stock trading plan is part of Mr. Zisk’s long-term strategy for asset diversification and liquidity. The 10b5-1 Plan is designed to comply with Rule 10b5-1 under the Securities and Exchange Act of 1934, as amended, and the Company’s insider trading policy.
On August 7, 2014, Speed Commerce announced its latest quarterly results. Net revenues increased to $22.1 million; Adjusted EBITDA increased 13% to $1.4 million; Launched SARA X, a pre-configured, feature-rich accelerator for Oracle Commerce that is targeted towards midsize e-commerce retailers at an affordable price with rapid implementation; and announced plan to divest the company’s legacy retail distribution business, which was successfully completed on July 9, 2014.
According to Capital IQ, Speed Commerce has a market cap of $215.28 million, an enterprise value of $233.38 million, and trailing 12 month revenues of $107.12 million.
Speed Commerce, Inc. provides e-commerce and fulfillment services to retailers and manufacturers in the United States and Canada. It offers Web platform development and hosting, order management, fulfillment, logistics, and contact center services, which provide customers with transaction-based services and information management tools. The company was formerly known as Navarre Corporation and changed its name to Speed Commerce, Inc. in September 2013.
Richard Willis’s most recent annual compensation from Speed Commerce is a salary of $458,000,$522,291 in other compensation, and a total compensation of $450,000. Mr. Willis is 54 years old.
According to his biography, Mr. Richard S. Willis serves as President, Chief Executive Officer, Director of Navarre Corp. He has served as a director of the Company since February 2011 and was a member of the Compensation Committee until his appointment as President and Chief Executive Officer of the Company in September 2011. Previously, he was the executive chairman of Charlotte Russe, a mall-based specialty retailer of value-priced women’s apparel and accessories (in 2011). From 2009 to 2011, he served as President of Shoes for Crews, a seller of slip resistant footwear. From 2003 to 2007, he was President and CEO of Baker & Taylor Corporation, the world’s distributor of books, as well as a global distributor of DVDs and music. While at Baker & Taylor he served for two years as the Chairman of the National Association of Recording Merchandisers. Previously, Mr. Willis served as Chairman, President and CEO of Troll Communications; President and CEO of Bell Sports; and CFO of several magazine companies, including Petersen Publishing, which he helped take public in 1997. Mr. Willis has a bachelor’s degree in business administration and a master’s of business administration from Baylor University, where he also serves as a Regent. Mr. Willis’ director qualifications include his considerable executive leadership experience across multiple industries, including with distribution businesses that serve retailers and their suppliers.
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