On June 14, 2019, Alaska Communications Systems Group, Inc. (the \”Company\”) issued a press release announcing that its CEO and President, Anand Vadapalli, had reach an agreement with the Company to depart the company and its board of directors on June 30, 2019. to that agreement, Mr. Vadapalli will receive payments approximately equal to the base pay, annual incentive compensation, and deferred compensation that he would have received for 2019 if: (i) his employment had continued through the end of the year; and (ii) his incentive and deferred compensation had been granted at negotiated levels. Mr. Vadapalli’s existing unvested equity awards will be eligible for vesting with the same performance or time factors as other executives. The agreement also provides that Mr. Vadapalli will serve as an advisor for the board and management through the end of 2019.

Effective July 1, 2019, the Company’s board of directors appointed the Company’s current Chief Operations Officer, William H. Bishop, 53, as interim CEO while the board conducts a candidate search for a permanent CEO. Mr. Bishop joined the Company in August 2004 and has served in several leadership roles in consumer and business sales and operations, including most recently serving as senior vice president of customer and revenue management prior to becoming COO in April 2019.

The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

ALASKA COMMUNICATIONS SYSTEMS GROUP INC Exhibit
EX-99.1 2 a51999669_ex991.htm EXHIBIT 99.1 Exhibit 99.1 Alaska Communications Announces CEO Transition – Anand Vadapalli to Depart June 30 – – William H. Bishop COO to Act as Interim CEO – ANCHORAGE,…
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About ALASKA COMMUNICATIONS SYSTEMS GROUP, INC (NASDAQ:ALSK)

Alaska Communications Systems Group, Inc. is a fiber broadband and managed information technology (IT) services provider. The Company is focused primarily on business and wholesale customers in and out of Alaska. The Company also provides telecommunication services to consumers across Alaska. The Company’s facilities-based communications network extends across Alaska and connects to the contiguous states through its undersea fiber optic cable systems and its usage rights on an undersea system. It serves customers in various areas, such as Business and Wholesale (broadband, voice and managed IT services); Consumer (broadband and voice services), and Other Services (including carrier termination, equipment sales, access services and support services receiving federal support funding). It provides voice and broadband services to residential customers. It provides voice and broadband origination and termination services to inter and intrastate carriers serving its retail customers.