CITRIX SYSTEMS, INC. (NASDAQ:CTXS) 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 September 18, 2017, the Board of Directors (the “Board”) of Citrix Systems, Inc. (the “Company”) expanded the Board from nine to ten directors, and elected Dr.AjeiS. Gopal as a director of the Company, effective as of the same date.Dr.Gopal was also appointed as a member of the Compensation Committee of the Board.
As a result of his appointment to the Board, Dr.Gopal will be entitled to participate in the Company’s non-employee director compensation program (the “Program”). to the Program, Dr.Gopal will be entitled to receive annual cash compensation of $60,000 for his service on the Board, as well as annual cash compensation of $15,000 for his service on the CompensationCommittee. Additionally, to the Program and under the Company’s Amended and Restated 2014 Equity Incentive Plan, Dr.Gopal will be eligible to receive (i)an initial grant of restricted stock units valued at $500,000 that will vest in equal annual installments over a three-year period, and (ii)commencing in 2018, an annual grant of restricted stock units valued at $250,000 that will vest monthly over a one-year period. The Company will also enter into an indemnification agreement with Dr.Gopal in substantially the same form entered into with the other directors of the Company.
There are no other arrangements or understandings between Dr.Gopal and any other person to which Dr.Gopal was selected as a director. Dr.Gopal is not a party to any transaction required to be disclosed to Item 404(a) of Regulation S-K.
A press release, dated September 20, 2017, announcing the election of Dr.Gopal as a director of the Company is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 5.02. | Financial Statements and Exhibits. |
(d)Exhibits.
CITRIX SYSTEMS INC ExhibitEX-99.1 2 d457482dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE For media inquiries,…To view the full exhibit click here
About CITRIX SYSTEMS, INC. (NASDAQ:CTXS)
Citrix Systems, Inc. develops and sells products and services that enable delivery of applications and data over public, private or hybrid clouds or networks, to virtually any type of device. The Company operates through two segments: Enterprise and Service Provider, and Mobility Apps. The Company’s Enterprise and Service Provider segment consists of Workspace Services and Delivery Networking products. Its Mobility Apps segment consists of Communications Cloud and Workflow Cloud products. The Company’s solutions offer secure, mobile workspaces that provide people with access to applications, desktops, data and communications, over any network or cloud. It markets and licenses its products directly to customers, over the Web, and through systems integrators (SIs), in addition to indirectly through value-added resellers (VARs), value-added distributors (VADs), original equipment manufacturers (OEMs) and service providers.
