8x8 (EGHT) Proxy Filing summary

Executive summary

• Fiscal 2024 marked a transformative year with strategic realignment, operational enhancements, and a focus on innovation, cost-efficiency, and strategic investments, resulting in improved profitability and cash flow despite a slight revenue decline.

• Leadership changes included the appointment of a new CEO and CFO, and the addition of new Chief Revenue and Marketing Officers to drive transformation.

• Service revenue was $700.6 million and total revenue $728.7 million, both down slightly from the prior year, but annualized recurring revenue from the XCaaS platform grew 7% year-over-year.

• Significant debt reduction was achieved, with $88.3 million repaid in fiscal 2024, and further reductions planned through fiscal 2026.

• Investments in R&D exceeded 15% of revenue (non-GAAP), fueling new product launches and platform enhancements, especially in AI and customer engagement.

Voting matters and shareholder proposals

• Shareholders will vote on the election of seven directors, ratification of Moss Adams LLP as auditor, advisory approval of executive compensation, an amendment to increase shares under the 2022 Equity Incentive Plan by 14 million, and an amendment to the charter to limit certain officers' liability for monetary damages.

• The board recommends voting FOR all proposals.

Board of directors and corporate governance

• The board consists of seven directors, six of whom are independent, with a focus on diversity and regular refreshment.

• Separate Chairman and CEO roles, annual board and committee assessments, and a new Technology & Cybersecurity Committee were established.

• Directors are elected annually, and the company maintains a single-class share structure with no poison pill provisions.

• Stockholder engagement is active, with over 150 meetings held in fiscal 2024.