BARRACUDA NETWORKS, INC. (NYSE:CUDA) 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
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
President of Barracuda Networks, Inc. (the “Company”), resigned
on June 29, 2017, with such resignation to be effective on June
30, 2017. Mr. Perone will continue to serve as a member of the
Companys Board of Directors, and Mr. Perone will continue to
assist with strategic and emerging technology investments and
opportunities.
Perone entered into a Resignation Agreement (the “Resignation
Agreement”) on June 29, 2017, which provides, among other things,
that Mr. Perone resigns as Chief Marketing Officer of the Company
effective June 30, 2017, and in order to ensure an orderly
transition of his duties as Chief Marketing Officer, Mr. Perone
will remain an employee of the Company until July 31, 2017 (the
“Resignation Date”).
Resignation Date, Mr. Perone is entitled to receive, among other
things, his compensation and benefits as in effect as of the date
of the Resignation Agreement. Mr. Perone is entitled to receive a
cash payment of $550,000 within thirty (30) days of the
Resignation Date, continuing payments of health insurance
premiums and consulting services payments of $175,000 per quarter
ending July 31, 2018. Additionally, the vesting of Mr. Perones
then-outstanding Company stock options and restricted stock unit
awards (collectively, the “Equity Awards”) will accelerate in
full such that all of the shares subject to such Equity Awards
will become fully vested, settled, and exercisable, as
applicable, on the Resignation Date.
purport to be complete and is qualified in its entirety by
reference to the full text of the Resignation Agreement, a copy
of which is filed as Exhibit 10.1 to this Current Report on Form
8-K, and is incorporated herein by reference.
the Company as Senior Vice President and Chief Marketing Officer
effective July 5, 2017.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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10.1
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Resignation Agreement, between the Company and Michael
Perone, dated June 29, 2017 |
BARRACUDA NETWORKS INC ExhibitEX-10.1 2 cuda-20170629xexhibitx101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1RESIGNATION AGREEMENTThis Resignation Agreement (“Agreement”) is made by and between Michael Perone (“Executive”) and Barracuda Networks,…To view the full exhibit click here About BARRACUDA NETWORKS, INC. (NYSE:CUDA)
Barracuda Networks, Inc. designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers. Its security solutions include Barracuda Email Security, The Barracuda Web Security Gateway, Barracuda NextGen Firewalls, The Barracuda Web Application Firewall, The Barracuda Load Balancer ADC and The Barracuda SSL VPN. Its data protection solutions provide solutions for on-premises and cloud-based archiving and backup. Its data protection solutions include Barracuda Backup, Barracuda Message Archiver and CudaSign. Its solution suites combine its security and data protection offerings into services designed for cloud platforms and managed services environments. Its solution suites include Barracuda Essentials for Office 365 and Intronis ECHOplatform.