Advanced Disposal Services,Inc. (NYSE:ADSW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March27, 2018, in connection with the recent sale of common stock of Advanced Disposal Services,Inc. (the “Company”) by Star Atlantic Waste Holdings, L.P. (“Highstar”), Bret Budenbender and Jared Parker each submitted a notice of resignation from their positions as directors of the Company, effective May1, 2018. Mr.Budenbender and Mr.Parker have been serving as directors in accordance with the Stockholders Agreement (the “Stockholders Agreement”), dated as of October12, 2016, among the Company, Highstar, BTG Pactual International Portfolio Fund II SPC, acting on behalf of and for the account of the Segregated Portfolio BTGPH Corp Hedge, and Canada Pension Plan Investment Board. After Mr.Budenbender’s and Mr.Parker’s resignations become effective on May1, Highstar will no longer have any directors serving on the Board of Directors but will continue to have the right to nominate one director to the Board to the terms of the Stockholders Agreement until such time as Highstar’s ownership of Company common stock falls below 5% of the outstanding stock. Mr.Budenbender’s and Mr.Parker’s notices of resignation did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.