Steven K. Sprague

STEVEN K. SPRAGUE is President and CEO of Wave Systems Corporation. Wave
has developed electronic commerce technology that is an inexpensive,
open-system hardware and software-based device that enables secure
transaction processing and distributed information metering in users’
PCs, peripherals and set-top boxes. Mr. Sprague was a Vice President of
Wave Systems from 1992 to 1995. In June 1995 he founded Wave Interactive
Network, a specialized consumer distribution channel of Wave Systems
Corp. After initial development of the channel, Wave Interactive Network
was reacquired by Wave Systems Corp. and on May 23, 1996, Mr. Sprague
was elected President and COO of Wave Systems. In March 2000 he took
over responsibilities as CEO of the company. Mr. Sprague is the son of
Wave Chairman Peter Sprague, who founded the company in 1988. He has a
BS in Mechanical Engineering from Cornell University.