CDW CORPORATION (NASDAQ:CDW) 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 October10, 2017, CDW Corporation (the “Company”) announced that Ann E. Ziegler will retire as Senior Vice President and Chief Financial Officer of the Company effective December31, 2017. Ms.Ziegler will be available on a consulting basis for 60 days post-retirement to assist with transition.
Also on October10, 2017, the Company announced that Collin B. Kebo will succeed Ms.Ziegler as Senior Vice President and Chief Financial Officer effective January1, 2018. Mr.Kebo, age 51, joined the Company in 2008 as Vice President, Financial Planning& Analysis and assumed the additional title of Chief Financial Officer – International in 2016.
In connection with his appointment as Senior Vice President and Chief Financial Officer, Mr.Kebo’s 2018 compensation will consist of a base salary of $410,000, an annual bonus target of $390,000 and a target equity award value as of the grant date of $500,000, and he will receive a one-time promotion equity award with a target value as of the grant date of $300,000. This one-time promotion equity award will be effective November2, 2017 and will be granted fifty percent in stock options and fifty percent in performance share units. The stock options will have a ten year term and will vest one-third on each of the first three anniversaries of the date of grant. The performance share units will vest on December31, 2019 based upon the achievement of performance goals set by the Company’s Compensation Committee. In addition, effective January1, 2018, Mr. Kebo and the Company will enter into the Company’s standard compensation protection agreement and noncompetition agreement for executive officers, the forms of which were filed with the Securities and Exchange Commission as Exhibit 10.2 and Exhibit 10.3, respectively, with the Company’s Form 8-K filed on March14, 2016, and the Company’s standard indemnification agreement for the directors and executive officers, the form of which was filed with the Securities and Exchange Commission as Exhibit 10.32 with the Company’s Amendment No.2 to Form S-1 filed on June14, 2013 (Reg. No.333-187472).
Mr.Kebo has no family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company, and there are no transactions between Mr.Kebo and the Company that would be required to be reported under Item404(a) of Regulation S-K.
About CDW CORPORATION (NASDAQ:CDW)
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees. The Public segment consists of government agencies and education and healthcare institutions. The Other segment includes CDW Advanced Services, Canada and Kelway. The CDW Advanced Services business consists of customized engineering services delivered by technology specialists and engineers, and managed services that include infrastructure as a service offering. Its array of offerings ranges from discrete hardware and software products to integrated IT solutions, such as mobility, security, data center optimization, cloud computing, virtualization and collaboration.