Cardtronics plc (NASDAQ:CATM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November16, 2017, the Board of Directors of Cardtronics plc (the “Company”) appointed Gary W. Ferrera, 55, as Chief Financial Officer, effective November28, 2017, in connection with the previously announced transition by Edward H. West to Chief Executive Officer, effective January1, 2018.
Immediately prior to joining the Company, Mr.Ferrera served as Chief Financial Officer at DigitalGlobe,Inc. since early 2015. Prior to that, Mr.Ferrera served as Chief Financial Officer of Intrawest Resorts Holdings,Inc., a developer and operator of destination resorts, from January2014 through January2015, as Executive Vice President and Chief Financial Officer of Great Wolf Resorts,Inc., an owner and operator of family resorts, from April2013 through mid-January2014, and as Executive Vice President and Chief Financial Officer of National CineMedia,Inc., a cinema advertising company, from 2007 through 2013. Earlier in his career, Mr.Ferrera served in investment banking roles at Citigroup and Bear Stearns, and he served as an international tax consultant at Arthur Andersen.
In connection with his appointment as Chief Financial Officer, Mr.Ferrera will be entitled to receive the following compensation commencing November28, 2017:
· A one-time cash sign-on bonus of $100,000 for personal travel, temporary living and miscellaneous expenses payable not later than 30 days following Mr.Ferrera commencing his employment with the Company; and
· Reimbursement of Mr.Ferrera’s actually incurred relocation costs to establish a personal residence in the greater Houston, Texas area.
Mr.Ferrera will be entitled to receive severance compensation, including payment of all accrued and unpaid salary, unused vacation and unreimbursed expenses, if his employment is terminated under certain conditions. If Mr.Ferrera’s employment is terminated due to death or disability, he will also be entitled to unreimbursed relocation expenses, benefits to which he is entitled and the acceleration of earned but unvested time-based equity awards and a pro rata portion of his annual bonus. If Mr.Ferrera’s employment is terminated by him for Good Reason (as defined in the employment agreement) or by the Company’s election not to renew his employment at the end of his term, subject to Mr.Ferrera’s execution of a release, he will also be entitled to receive any unpaid annual bonus for the year prior to the termination, a bonus for the year in which the termination occurs, two times his base salary plus average annual bonus paid in installments, and medical benefits for 18 months. The foregoing is reflected in and subject to the full text of the employment agreement entered into between Mr.Ferrera and the Company.
There are no arrangements or understandings between Mr.Ferrera and any other person to which he was appointed as an officer of the Company. Mr.Ferrera does not have any family relationship with any director or officer of the Company or any person nominated or chosen by the Company to become a director or executive officer, and there are no transactions in which Mr.Ferrera has an interest requiring disclosure under Item 404(a)of Regulation S-K.
A copy of the press release announcing Mr.Ferrera’s appointment is attached hereto as Exhibit99.1.
