RADNOR, Pa., June 20, 2016 /PRNewswire/ -- Safeguard Scientifics, Inc. (NYSE: SFE) today announced that Martina F. Aufiero has joined the company as Senior Vice President and Managing Director, Technology. Ms. Aufiero will be responsible for sourcing and deploying capital in early- and growth-stage technology companies, providing operational oversight and driving successful exits for Safeguard's partner companies.
Ms. Aufiero brings more than 20 years of experience to Safeguard, most recently serving as Managing Director and Head of Corporate Development for a leading New York-based financial technology firm, where she led several key acquisitions and inorganic growth initiatives. Previously, Ms. Aufiero served as Vice President of Principal Strategic Investing at Goldman Sachs where she led numerous investments in the financial technology sector as part of a $1.0 billion portfolio. On behalf of Goldman Sachs, Ms. Aufiero served on the Boards of Directors for APX Inc., the Green Exchange LLC, Medley Global Advisors LLC and LiquidityMatch LLC and as a board alternate on FXAll Inc. Her experience as a board member includes Audit Committee Chair and leadership roles on Compensation and Investment Committees, as well as holding a corporate officer position for a consortium of 11 global banks. Prior to joining Goldman Sachs, Ms. Aufiero was the Director of Mergers & Acquisitions for Moneyline Telerate (acquired by Reuters in 2004). Previously, she was a Manager in the strategy consulting practice of Andersen Consulting and held several roles with the Atlantic Richfield Company (ARCO).
"Tina's background in principle investing, M&A, strategy and board governance will prove invaluable to Safeguard as well as our current and prospective partner companies," said Stephen T. Zarrilli, President and CEO of Safeguard. "As we continue to build our portfolio of companies, it's essential to access and cultivate strong networks and ecosystems that fuel and foster innovation and entrepreneurship. Tina brings that and more to Safeguard. I look forward to working with her to identify new opportunities and to advance our current partner companies towards successful exits to drive value for Safeguard's shareholders."
"I'm thrilled to be moving back to Philadelphia and joining a company that has a rich heritage of supporting entrepreneurs, start-ups and growth-stage companies in the technology sector," said Ms. Aufiero. "Safeguard continues to build upon its legacy of providing companies in its portfolio with far more than just capital. I am extremely excited by the opportunity that lies ahead for me to provide entrepreneurs strong operational guidance to build value in their businesses. I look forward to working with Steve and the entire team at Safeguard to identify and grow the next generation of leading technology companies and to join the vibrant Greater Philadelphia investment community, which has matured into the epicenter of the East Coast entrepreneurial region."
In accordance with New York Stock Exchange rules, Safeguard also stated that it intends to issue to Ms. Aufiero an inducement award consisting of a combination of restricted stock and restricted stock units having an aggregate value of $300,000. The number of shares of restricted stock and restricted stock units to be awarded, each representing one half of the aggregate value, will be determined based upon the average closing price of a share of Safeguard common stock on the NYSE composite tape for the 20 consecutive trading days immediately preceding June 30, 2016. The restricted stock and restricted stock units are expected to be granted on or about October 28, 2016. The restricted stock will vest 25% on July 15, 2017, and in 12 equal quarterly installments commencing on the 15th day of each October, January, April and July thereafter, assuming Ms. Aufiero's continued employment by Safeguard as of such date. The restricted stock units will have a 10-year term and will vest based on Safeguard's performance-based vesting model. The inducement award was approved by the Compensation Committee of Safeguard's Board of Directors, without shareholder approval, as an "employee inducement" award under the NYSE's rules.
About Safeguard Scientifics
Safeguard Scientifics, Inc. (NYSE: SFE) has a distinguished track record of fostering innovation and building market leaders. For more than 60 years, Safeguard has been providing growth capital and operational support to entrepreneurs across an evolving spectrum of industries. Today, Safeguard targets early- and growth-stage companies in advertising technology, digital media, financial technology, enterprise software, digital health and healthcare IT. For more information, please visit www.safeguard.com or follow us on Twitter @safeguard.
Except for the historical information and discussions contained herein, statements contained in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Our forward-looking statements are subject to risks and uncertainties. The risks and uncertainties that could cause actual results to differ materially include, among others, our ability to make good decisions about the deployment of capital, the fact that our partner companies may vary from period to period, our substantial capital requirements and absence of liquidity from our partner company holdings, fluctuations in the market prices of our publicly traded partner company holdings, competition, our inability to obtain maximum value for our partner company holdings, our ability to attract and retain qualified employees, market valuations in sectors in which our partner companies operate, our inability to control our partner companies, our need to manage our assets to avoid registration under the Investment Company Act of 1940, and risks associated with our partner companies, including the fact that most of our partner companies have a limited history and a history of operating losses, face intense competition and may never be profitable, the effect of economic conditions in the business sectors in which Safeguard's partner companies operate, and other uncertainties described in our filings with the Securities and Exchange Commission. Many of these factors are beyond the Company's ability to predict or control. As a result of these and other factors, the Company's past financial performance should not be relied on as an indication of future performance. The Company does not assume any obligation to update any forward-looking statements or other information contained in this press release.
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SOURCE Safeguard Scientifics Inc.