BLUCORA,INC. (NASDAQ:BCOR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On March 28, 2017, Andrew M. Snyder, who has served as a director of Blucora, Inc. (the “Company”) since 2011, informed the Board of Directors (the “Board”) of the Company that he does not plan to stand for re-election at the Company’s 2017 annual meeting of stockholders (the “2017 Annual Meeting”), which will be held on June 1, 2017. Mr. Snyder will continue to serve as a director until the 2017 Annual Meeting. In addition, on March 29, 2017, Steven W. Hooper, who has served as a director of the Company since 2011, informed the Board that he plans to retire from the Board effective June 1, 2017. Mr. Hooper will continue to serve as a director until the 2017 Annual Meeting. The decisions made by Messrs. Snyder and Hooper to no longer serve on the Board are not the result of any disagreement with the Company. The Board has engaged the executive search firm of Heidrick & Struggles to assist in filling the two Board vacancies that will occur as a result of the decision by Mr. Snyder not to stand for re-election and the retirement of Mr. Hooper.
On August 23, 2011, the Company entered into a Securities Purchase Agreement (the “Agreement”) with Cambridge Information Group I LLC, a Delaware limited liability company (“CIG”). In connection with the Agreement, Andrew M. Snyder was elected to fill an existing vacancy on the Company’s Board at that time. to the Agreement, CIG has the right to appoint a replacement investor representative in the event that Mr. Snyder ceases to serve on the Board. CIG’s right to appoint an investor representative will expire upon the earlier of (i) such time as CIG no longer beneficially owns at least 1 million shares of the Company’s common stock and (ii) August 23, 2017. CIG has waived its right to appoint a replacement investor representative when Mr. Snyder ceases to serve on the Board.
About BLUCORA, INC. (NASDAQ:BCOR)
Blucora, Inc. is a provider of technology-enabled financial solutions to consumers, small business owners and tax professionals. The Company operates through two segments: the Wealth Management, which consists of the HD Vest, Inc. (HD Vest) business, and the Tax Preparation, which consists of the TaxAct, Inc. (TaxAct) business. Its Wealth Management segment distributes products and services through financial advisors. HD Vest provides financial advisors with an integrated platform of brokerage, investment advisory and insurance services to assist in making each financial advisor a financial service center for his/her clients. Its Tax Preparation segment provides digital do-it-yourself tax preparation solutions for consumers, small business owners and tax professionals. TaxAct provides digital tax preparation solutions. It also offers a range of tax preparation solutions and online lead generation capabilities to enable the filing of over 60 million federal consumer tax returns. BLUCORA, INC. (NASDAQ:BCOR) Recent Trading Information
BLUCORA, INC. (NASDAQ:BCOR) closed its last trading session up +0.25 at 17.75 with 614,237 shares trading hands.