CHOICE HOTELS INTERNATIONAL, INC. (NYSE:CHH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March3, 2017, Choice Hotels International, Inc. (Choice)
announced that it has named Dominic Dragisich as Choices Chief
Financial Officer. Mr.Dragisich, age 34, served as Chief
Financial Officer at XO Communications from July 2015 to February
2016, where he also had been Vice President, Financial Planning
and Analysis (FPA) and Strategic Finance from September 2014 to
July 2015. Before XO Communications, he served as Senior
Director, IR Business Consultancy of Marriott International from
October 2013 to September 2014. Previously, Mr.Dragisich served
as Global Director of FPA of NII Holdings, Inc. from March 2012
to October 2013. A copy of the press release announcing
Mr.Dragisichs appointment is furnished herewith as Exhibit 99.1.
Mr.Dragisichs appointment as Chief Financial Officer of Choice
will commence on March6, 2017 and his compensation will be as
follows: (i)annual base salary will be $400,000, (ii)target
incentive opportunity under the Companys short-term incentive
plan of 70% of his annual salary, and (iii)target annual equity
grant award value under the Companys long-term incentive program
of 150% of his annual salary. Mr.Dragisich will also receive a
one-time incentive award of restricted stock with a value of
$400,000, which shall vest in full three years from the date of
grant. Mr.Dragisich will also be entitled to participate in
benefit programs generally available to officers of Choice,
including health insurance, retirement, severance and flexible
benefits.
Scott Oaksmith, who has been leading the finance team at Choice
prior to Mr.Dragisichs appointment, will continue to serve as
Senior Vice President, Finance, and Chief Accounting Officer.
| Item9.01. | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit 99.1Press Release issued by Choice Hotels International,
Inc., dated March3, 2017.
About CHOICE HOTELS INTERNATIONAL, INC. (NYSE:CHH)
Choice Hotels International, Inc. (Choice) is a hotel franchisor. The Company operates in two segments: hotel franchising business and SkyTouch Technology (SkyTouch). It operates approximately 6,420 hotels open and over 720 hotels under construction, representing approximately 507,480 rooms open and over 58,130 rooms under construction, awaiting conversion or approved for development in approximately 50 states, the District of Columbia and over 35 countries and territories outside the United States. It franchises lodging properties under the brand names, including Comfort Inn, Comfort Suites, Quality, Clarion, Sleep Inn, Econo Lodge, Rodeway Inn, MainStay Suites, Cambria hotels & suites and Ascend Hotel Collection (collectively, the Choice brands). SkyTouch division develops and markets cloud-based technology products, including inventory management, pricing and connectivity to third-party channels, to hoteliers not under franchise agreements with the Company. CHOICE HOTELS INTERNATIONAL, INC. (NYSE:CHH) Recent Trading Information
CHOICE HOTELS INTERNATIONAL, INC. (NYSE:CHH) closed its last trading session up +0.25 at 61.90 with 220,673 shares trading hands.