ACXIOM CORPORATION (NASDAQ:ACXM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(e) Acxiom Corporation (the “Company”) previously announced on February6, 2018 that the Company is seeking strategic alternatives for Acxiom Marketing Solutions, including a potential sale of that business (the “Potential Transaction”). In connection with the exploration of a Potential Transaction, on March31, 2018, the Compensation Committee of the Board of Directors (the “Board”) approved an incentive plan for certain senior employees of the Company, including Richard E. Erwin and Dennis D. Self. to the incentive plan, Messrs. Erwin and Self may be eligible for a contingent and discretionary bonus in the event of a sale of Acxiom Marketing Solutions in addition to their otherwise normal compensation arrangements. The incentive plan requires Messrs. Erwin and Self to respectively continue to be employedin their current positions by a buyer for a period of six months (unless involuntarily terminated by the buyer). Payment of suchbonus will be made over a period of up to twelve months after a closing.
On April2, 2018, the Company announced that the Board amended the terms of the Company’s existing share repurchase program (the “Repurchase Program”) which was initially adopted by the Board on August29, 2011, and subsequently amended on December5, 2011, May24, 2012, February5, 2013, November12, 2013, November12, 2014, May11, 2015 and July28, 2016, so as to (i)authorize an additional $100million in repurchases, thereby making the total amount authorized for repurchase $500million, and (ii)extend the term of the Repurchase Program through December31, 2019.Under the Repurchase Program, repurchases may be made at management’s discretion from time to time in the open market to Rule 10b-18 of the Securities Exchange Act of 1934, as amended, in privately negotiated transactions or by other means (including Rule 10b5-1 trading plans).
| Item 5.02. | Financial Statements and Exhibits. |
(d) Exhibits.
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ExhibitNo. |
Description |
| 99.1 | Press Release of Company dated April2, 2018 |
ACXIOM CORP ExhibitEX-99.1 2 d563860dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 ACXIOM EXPANDS SHARE REPURCHASE PROGRAM 4/2/2018 CONWAY,…To view the full exhibit click here
About ACXIOM CORPORATION (NASDAQ:ACXM)
Acxiom Corporation (Acxiom) is a technology and enablement services company. The Company operates through three business segments: Marketing Services, Audience Solutions, and Connectivity. The Company’s Marketing Services segment helps clients to unify data at individual level. The Audience Solutions segment helps clients to validate the accuracy of their people-based data, enhance it with additional insight and keep it up to date, enabling clients to reach desired audiences with relevant messages. The Connectivity segment activates data and makes it portable across the open marketing ecosystem. The Company serves a global client base from locations in the United States, Europe and the Asia-Pacific region. The Company’s client base includes organizations in these regions across industry verticals, including financial, insurance and investment services, automotive, retail, telecommunications, healthcare, travel, entertainment, non-profit and government.