Shutterfly Urges Stockholders To Vote For All Of Its Director Nominees

(RTTNews) - Shutterfly Inc. (SFLY) said it has filed an investor presentation with the Securities and Exchange Commission in connection with the company's 2015 annual meeting of stockholders.

Shutterfly noted that its board and management team have a proven track record of value creation, growing free cash flow by more than 74 percent, revenue and adjusted EBITDA at a compound annual rate of 29 percent and market capitalization by 5 times since the 2006 IPO.

In addition to the previously announced changes that the board made to the company's executive compensation program, the board has established additional guidelines for its 2015 and 2016 executive compensation program.

Further, the company said it has engaged "constructively and responsibly" with Marathon Partners by offering two board seats, including positions on key committees, one for Mario Cibelli and one for a mutually acceptable, qualified candidate, which Marathon Partners has declined.

According to Shutterfly, Marathon Partners has refused to agree to a universal proxy card, thereby reducing stockholder flexibility in voting for directors at the annual meeting.

The company's board has urged stockholders to vote the WHITE proxy card today "for all" of Shutterfly's three director nominees: Jeffrey Housenbold, Stephen Killeen and James White.