BARRETT BUSINESS SERVICES, INC. (NASDAQ:BBSI) 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.

(d) On December 15, 2016, the board of directors (the "Board") of Barrett Business Services, Inc. (the "Company"), approved an increase in the number of positions on the Board from seven to eight and appointed Vincent P. Price to fill the vacancy resulting from the increase, effective January 1, 2017, to serve until the Company’s 2017 annual meeting of stockholders, at which time he is expected to stand for re-election. The Board has not yet appointed Mr. Price to any Board committees.

Mr. Price will be compensated for his services as a director consistent with the Company’s standard practices for non-employee directors. The current applicable standard arrangements provide for payment of an annual cash retainer of $50,000 and an annual award of restricted stock units ("RSUs") with a value of $50,000 on the grant date. Each RSU represents a contingent right to receive one share of the Company’s Common Stock. The RSUs vest in four equal annual installments beginning one year following the grant date.

Mr. Price joined Cambia Health Solutions, a company headquartered in Portland, Oregon, and dedicated to transforming health care by creating a person-focused and economically sustainable system through health insurance plans and related products and services, in 2009 and currently serves as its executive vice president and chief financial officer. He previously spent 15 years as a senior finance executive with Intel Corporation, a leader in the design and manufacturing of advanced integrated digital technology platforms, followed by seven years as a consultant to start-up companies.

There are no transactions in which Mr. Price has an interest requiring disclosure under Item 404(a) of Regulation S-K. There are no family relationships between him and any other executive officer or director of the Company. Other than the compensation arrangements described above, there is no arrangement or understanding between Mr. Price and any other persons or entities to which Mr. Price was appointed as a director of the Company.

About BARRETT BUSINESS SERVICES, INC. (NASDAQ:BBSI)

Barrett Business Services, Inc. (BBSI) is a provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. BBSI’s core purpose is to advocate for business owners, particularly in the small and mid-sized business segment. The Company offers two categories of services: Professional Employer Services (PEO) and Staffing. It enters into a client services agreement with its PEO clients to establish a co-employment relationship with each client company. Its staffing services include on-demand or short-term staffing assignments, contract staffing, long-term or indefinite-term on-site management and direct placement. It operates through a network of branch offices throughout California, Oregon, Washington, Arizona, Colorado, Idaho, Nevada, Utah, Delaware, Maryland, North Carolina and Virginia.

BARRETT BUSINESS SERVICES, INC. (NASDAQ:BBSI) Recent Trading Information

BARRETT BUSINESS SERVICES, INC. (NASDAQ:BBSI) closed its last trading session up +1.01 at 64.33 with 54,894 shares trading hands.