Shimmick (SHIM) Proxy Filing summary

Executive summary

• Fiscal year 2024 saw $480 million in revenue, $356 million from projects, and a year-end backlog exceeding $822 million, with $100 million in liquidity and a strengthened balance sheet entering 2025.

• Strategic focus remains on expanding water and critical infrastructure projects, improving execution and profitability, and investing in workforce development.

• The 2025 Annual Meeting will be held virtually on June 4, 2025, with shareholders voting on director elections and auditor ratification.

Voting matters and shareholder proposals

• Shareholders will vote to elect six directors for one-year terms and to ratify Deloitte & Touche LLP as the independent auditor for fiscal 2025.

• The Board recommends voting FOR all director nominees and FOR auditor ratification.

• Shareholder proposals for the 2026 meeting must be submitted by December 26, 2025, for inclusion in the proxy statement.

Board of directors and corporate governance

• Board size will reduce from eight to six members after the meeting, with a mix of executive and independent directors.

• Roles of Executive Chairman and CEO are separated; an independent Lead Director will be appointed.

• The company will rely on the Nasdaq “controlled company” exemption for board independence but will maintain independent CHC and Governance Committees.

• Three standing committees (Audit, CHC, Governance) and a Special Committee oversee key areas, with all committee members being independent.