ALLIANCE DATA SYSTEMS CORPORATION (NYSE:ADS) 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.
In connection with Alliance Data Systems Corporation’s (“ADSC” or the “Company”) previously announced exploration of strategic alternatives for its Epsilon® business, including a potential sale of Epsilon (a “Transaction”), on January 24, 2019, the Compensation Committee of the Company’s Board of Directors approved a Transaction bonus of $1,100,000 for the Company’s Executive Vice President and President, Epsilon, Bryan J. Kennedy, to be paid within ninety days of the closing of the Transaction and contingent upon the achievement of certain quantitative and qualitative metrics with respect to the Transaction.
About ALLIANCE DATA SYSTEMS CORPORATION (NYSE:ADS)
Alliance Data Systems Corporation is a provider of data-driven marketing and loyalty solutions serving consumer-based businesses in a range of industries. The Company offers a portfolio of integrated outsourced marketing solutions, including customer loyalty programs, database marketing services, end-to-end marketing services, analytics and creative services, direct marketing services, and private label and co-brand retail credit card programs. The Company operates through three segments: LoyaltyOne, which provides coalition and short-term loyalty programs through the Company’s Canadian AIR MILES Reward Program and BrandLoyalty; Epsilon, which provides end-to-end, integrated marketing solutions, and Card Services, which provides risk management solutions, account origination, funding, transaction processing, customer care, collections and marketing services for the Company’s private label and co-brand retail credit card programs.
