Willdan Group Inc
For the period ended Jun 12, 2025. Filed Apr 18, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 12, 2025 · Filed Apr 18, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION**
**Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No. )
Filed by the Registrant☒
Filed by a Party other than the Registrant☐
Check the appropriate box:
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| ☐ | Preliminary Proxy Statement |
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☒ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| ☐ | Soliciting Material under §240.14a-12 |
WILLDAN GROUP, INC.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
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| ☒ | No fee required. | |
| ☐ | Fee paid previously with preliminary materials. | |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. | |
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| | April 18, 2025 | |
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| | Notice of 2025Annual Meeting and Proxy Statement | |
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| COMPREHENSIVE. INNOVATIVE. TRUSTED. | ||
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April 18, 2025
Dear Willdan Stockholder:
You are cordially invited to attend our 2025 Annual Meeting of Stockholders (the “Annual Meeting”) to be held on Thursday, June 12, 2025 at 10:00 a.m. Pacific Time. We will be hosting this year’s Annual Meeting via live audiocast on the Internet. To participate, vote or submit questions during the Annual Meeting via live audiocast, please visit: https://meetnow.global/ML2X4HH. You will need the 15-digit control number included on your Notice of Internet Availability or your proxy card or voting instruction form (if you received a printed copy of the proxy materials) or included in the email to you (if you received the proxy materials by email) in order to be able to vote your shares or submit questions during the Annual Meeting. You will not be able to attend the Annual Meeting in person.
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| “Willdan is a professional services company helping customers solve problems with knowledge and technology. We help make America’s energy transition more affordable for communities.”Michael A. BieberPresident & CEO | |||
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We utilize the Internet as our primary means of furnishing proxy materials to our stockholders. We will mail a Notice of Internet Availability of Proxy Materials to our stockholders of record that did not request to receive a printed copy of our proxy materials on or about April 24, 2025 with instructions for accessing the proxy materials and voting via the Internet. The Notice of Internet Availability of Proxy Materials also provides information on how stockholders can obtain paper or email copies of the proxy materials if they so choose. Internet transmission and voting are designed to be efficient, cost-effective and preserve resources.
Thank you for your continued support of Willdan. We look forward to your participation in the Annual Meeting.
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| | /s/ Michael A. Bieber |
| | Michael A. Bieber |
| | President and Chief Executive Officer |
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Notice of 2025 Annual**
**Meeting of Stockholders
| Annual Meeting of Stockholders | |
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| Date | Thursday, June 12, 2025 |
| Time | 10:00 a.m. Pacific Time |
| Place | Virtual audiocast only at https://meetnow.global/ML2X4HH. |
| Record Date | Close of business on April 15, 2025. A list of all stockholders entitled to vote at the Annual Meeting will be available for examination at our principal executive offices at 2401 East Katella Avenue, Suite 300, Anaheim, California 92806, for 10 days before the Annual Meeting, and during the Annual Meeting, such list will be available to registered stockholders as a link on the virtual meeting platform at https://meetnow.global/ML2X4HH. |
| Items of Business | ||
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| Proposal | BoardRecommendation | |
| Item 1 | To elect the seven directors nominated by our Board of Directors to serve a one-year term or until their successors are duly elected and qualified or until their earlier resignation or removal | FOR |
| Item 2 | To ratify the appointment of Crowe LLP as our independent registered public accounting firm for fiscal year 2025 | FOR |
| Item 3 | To approve, on a non-binding advisory basis, our named executive officer compensation | FOR |
| Item 4 | To approve, on a non-binding advisory basis, of the frequency of future advisory votes on our named executive officer compensation | ONE YEAR |
| Item 5 | To approve an amendment to the Company’s 2008 Performance Incentive Plan (the “2008 Plan”), including an increase in the number of shares available for grant under the 2008 Plan | FOR |
| Item 6 | Consider and act on any other matter that may properly be brought before the Annual Meeting or any postponements or adjournment thereof | N/A |
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HOW TO VOTE: YOUR VOTE IS VERY IMPORTANT
Dear Willdan Stockholders:
Your vote is very important. We recommend you vote by proxy ahead of the Annual Meeting even if you plan to participate in, and vote at, the virtual Annual Meeting.
If your shares are held in your name, you can vote by proxy in one of three convenient ways:
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| Telephone | Internet | |
| 1-800-652-VOTE (8683) | www.investorvote.com/WLDN | Mark, sign, date and promptly mail the proxy card when received. |
| Follow the instructions provided in the separate proxy card or voting instruction form you received. | Follow the instructions provided in the Notice, separate proxy card or voting instruction form you received. | Send your completed and signed proxy card or voting instruction form to the address on your proxy card or voting instruction form. |
Refer to "Other Information—How do I vote?" in the Meeting and Voting Information section on page 80 of the accompanying proxy statement for a description of each voting method. Any proxy may be revoked by delivery of a later dated proxy or a written notice of revocation or by attending the Annual Meeting via live audiocast and voting your shares at that time. If you hold shares through someone else, such as an account with a brokerage firm, bank or other nominee, you will receive materials from your brokerage firm, bank or other nominee instructing you how to vote.
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| | By Order of the Board of Directors |
| | /s/ Kate M. Nguyen |
| | Kate M. Nguyen |
| | Secretary |
Important Notice about the Availability of Proxy Materials. The Notice of the 2025 Annual Meeting, proxy statement, and our 2024 Annual Report on Form 10-K are available at www.proxyvote.com. You are encouraged to access and review all the important information contained in our proxy materials before voting.
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Virtual Annual Meeting
The Annual Meeting will be a completely virtual meeting of stockholders conducted through a live audio webcast at https://meetnow.global/ML2X4HH, which will provide stockholders with the ability to participate in the Annual Meeting, vote their shares and ask questions.
Benefits of a Virtual Annual Meeting
| ■ | We believe a virtual-only meeting format facilitates stockholder attendance and participation by enabling all stockholders to participate fully, equally and without cost, using an Internet-connected device from any location around the world. In addition, the virtual-only meeting format increases our ability to engage with all stockholders, regardless of size, resources or physical location. |
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| ■ | Stockholders of record and beneficial owners as of April 15, 2025 (“Record Date”) will have the ability to submit questions directly to our management and Board and vote electronically at the Annual Meeting via the virtual-only meeting platform, with procedures designed to ensure the authenticity and correctness of your voting instructions. |
| ■ | We believe that the virtual-only meeting format will give stockholders the opportunity to exercise the same rights as if they had attended an in-person meeting and believe that these measures will enhance stockholder access and encourage participation and communication with our Board of Directors and management. |
Attendance at the Virtual Annual Meeting
| ■ | All stockholders of our common stock as of the Record Date may attend the Annual Meeting at https://meetnow.global/ML2X4HH and vote their shares or ask questions during the Annual Meeting. Members of the public will also be permitted to attend the meeting, but will not be permitted to ask questions during the meeting. |
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| ■ | To attend and participate in the Annual Meeting by voting or asking questions, you will need the 15-digit control number included on your Notice of Internet Availability or your proxy card or voting instruction form (if you received a printed copy of the proxy materials) or included in the email to you (if you received the proxy materials by email). |
| ■ | If you were a stockholder as of the Record Date, you may vote shares held in your name as the stockholder of record or shares for which you are the beneficial owner but not the stockholder of record electronically during the Annual Meeting through the online virtual annual meeting platform by following the instructions provided when you log in to the online virtual Annual Meeting platform. |
| ■ | On the day of the Annual Meeting, stockholders may begin to log in to the virtual-only Annual Meeting beginning at 9:30 a.m. Pacific Time. The Annual Meeting will begin promptly at 10:00 a.m. Pacific Time. Please allow ample time for online login. |
| ■ | We will have technicians ready to assist with any technical difficulties you may have accessing the Annual Meeting. If you encounter any difficulties accessing the virtual-only Annual Meeting platform, including any difficulties with your 15-digit control number or submitting questions, you may call the technical support number that will be posted on the Annual Meeting log-in page. |
| ■ | Please be aware that you must bear any costs associated with your Internet access, such as usage charges from Internet access providers and telephone companies. |
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Questions at the Virtual Annual Meeting
| ■ | Stockholders will have the opportunity to submit questions on the date of the Annual Meeting by following the instructions on the virtual-only Annual Meeting platform. |
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| ■ | Following the presentation of all proposals at the Annual Meeting, we will spend up to 30 minutes answering as many stockholder-submitted questions that comply with the meeting rules of conduct, which will be posted on the online virtual Annual Meeting platform. We will publish appropriate questions submitted in accordance with the Annual Meeting rules of conduct with answers, including those questions which were not addressed directly during the Annual Meeting due to time constraints, on our investor relations website at https://ir.willdangroup.com soon after the Annual Meeting. If we receive substantially similar questions, we will group such questions together and provide a single response to avoid repetition. |
YOU WILL NOT BE ABLE TO ATTEND THE ANNUAL MEETING IN PERSON
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Cautionary Statement Regarding Forward-Looking Information
This Proxy Statement contains statements that constitute forward-looking statements as that term is defined by the Private Securities Litigation Reform Act of 1995, as amended. These statements concern our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition, which are subject to risks and uncertainties. All statements other than statements of historical fact included in this Proxy Statement are forward-looking statements. These statements may include words such as “aim,” “anticipate,” “assume,” “believe,” “can have,” “could,” “due,” “estimate,” “expect,” “goal,” “intend,” “likely,” “may,” “objective,” “plan,” “potential,” “positioned,” “predict,” “should,” “target,” “will,” “would” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events or trends. For example, all statements we make relating to our plans and objectives for future operations, growth or initiatives and strategies are forward-looking statements.
These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business and the industry in which we operate and our management’s beliefs and assumptions. We derive many of our forward-looking statements from our own operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that predicting the impact of known factors is very difficult, and we cannot anticipate all factors that could affect our actual results.
All of our forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from our expectations. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to:
| ■ | our ability to adequately complete projects in a timely manner; |
| ■ | our ability to compete successfully in the highly competitive energy services market; |
| ■ | our reliance on work from our top ten clients; |
| ■ | changes in state, local and regional economies and government budgets; |
| ■ | our ability to win new contracts, to renew existing contracts and to compete effectively for contracts awarded through bidding processes; |
| ■ | our ability to make principal and interest payments on our outstanding debt as they come due and to comply with the financial covenants contained in our debt agreements; |
| ■ | our ability to manage supply chain constraints, labor shortages, elevated interest rates, and elevated inflation; |
| ■ | our ability to obtain financing and to refinance our outstanding debt as it matures; |
| ■ | our ability to successfully integrate our acquisitions and execute on our growth strategy; and |
| ■ | our ability to attract and retain managerial, technical, and administrative talent. |
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The above is not a complete list of factors or events that could cause actual results to differ from our expectations, and we cannot predict all of them. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements disclosed under “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in our Annual Report on Form 10-K for the fiscal year ended December 27, 2024, as such disclosures may be amended, supplemented or superseded from time to time by other reports we file with the Securities and Exchange Commission, including subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and public communications. You should evaluate all forward-looking statements made in this Proxy Statement and otherwise in the context of these risks and uncertainties.
Potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on any forward-looking statements we make. These forward-looking statements speak only as of the date of this Proxy Statement and are not guarantees of future performance or developments and involve known and unknown risks, uncertainties and other factors that are in many cases beyond our control. Except as required by law, we undertake no obligation to update or revise any forward-looking statements publicly, whether as a result of new information, future developments or otherwise.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.