8×8, Inc. (NASDAQ:EGHT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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8×8, Inc. (NASDAQ:EGHT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

Major General Guy L. Hecker, Jr. retired from the board of directors (the “Board”) of 8×8, Inc. (the “Company”) after more than 20 years of service to the Company, effective May 6, 2019. In connection with Mr. Hecker’s resignation, Mr. Hecker also stepped down as Lead Independent Director of the Board, as a member of the Audit and Compensation Committees, and as Chair of the Nominating and Governance Committee.

(d)

On May 6, 2019, the Board appointed Todd Ford to the Board of the Company, commencing June 1, 2019. Mr. Ford’s initial term will expire at the 2019 annual meeting of stockholders (the “2019 Annual Meeting”), concurrently with the terms of the other members of the Board. Effective with his appointment as director, Mr. Ford will also serve as Chair of the Audit Committee of the Board and as a member of the Compensation Committee of the Board.

In connection with his appointment to the Board, Mr. Ford will be granted two awards of restricted stock units (“RSUs”), in accordance with the Company’s non-employee director compensation policy. Under that policy, Mr. Ford, as a new non-employee director of the Board, will receive on June 1, 2019: (a) an RSU award with a value up to $175,000, prorated based on the amount of time left in his initial term, that will vest in full upon completion of his initial term of service at the 2019 Annual Meeting; and (b) an RSU award with a value of $100,000, vesting in two equal installments on the first and second anniversaries of the date of grant, subject to his continued service.

Mr. Ford is Chief Financial Officer of Coupa Software Incorporated (“Coupa”). During the fiscal year ended March 31, 2019, Coupa was a customer of the Company and paid the Company approximately $270,000 to a contract for services entered into between the Company and Coupa in 2017.

In connection with the appointment of Mr. Ford and retirement of Mr. Hecker, the Board made the following additional changes: appointed Dr. Jaswinder Pal (“J.P.”) Singh as Lead Independent Director and as a member of the Governance & Nominating and Compensation Committees, effective May 6, 2019; and appointed Monique Bonner as Chair of the Governance and Nominating Committee, effective May 6, 2019.

A copy of the Company’s press release announcing the appointment of Mr. Ford and the resignation of Mr. Hecker is filed as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1    Press release dated May 8, 2019.


8X8 INC /DE/ Exhibit
EX-99.1 2 d741244dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 8X8,…
To view the full exhibit click here

About 8×8, Inc. (NASDAQ:EGHT)

8×8, Inc. provides cloud-based, enterprise-class software solutions. The Company’s solutions are delivered through Software as a Service (SaaS) business model. Its segments include Americas and Europe. Its software platform brings together cloud, mobile, collaboration, video and data science technologies. Through a combination of open application program interface (API) and pre-built integrations, its solutions leverage critical customer context from internal data systems and customer relationship management (CRM) systems. Its software product, branded as 8×8 Virtual Office, delivers voice as a service across the world. 8×8 Virtual Office enables a customer to use a single business phone number to place and receive calls from any supported device. It provides software to enable a multi-channel contact center under the 8×8 Virtual Contact Center brand. Its Virtual Office Meetings software solution is a tool for teams within the enterprise to meet and collaborate on a shared project.