Digital Turbine, Inc. (NASDAQ:APPS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(d) On April 25, 2018, the board of directors of Digital Turbine, Inc. (the “Company”) appointed Roy H. Chestnutt as a director, effective June 1, 2018.
Roy H. Chestnutt served as Executive Vice President and Chief Strategy Officer Verizon since January 2013. He was responsible for development and implementation of Verizon's overall corporate strategy, including business development, joint ventures, strategic investments, acquisitions and divestitures. Before being named to that position, Chestnutt was Senior Vice President – Corporate Strategy, with responsibility for the formulation and execution of Verizon's strategic plan addressing new markets, solution areas and services that capitalize on the company's assets, capabilities and brand across all lines of business. Chestnutt joined Verizon in 2011 from Motorola Networks where he served as corporate vice president of the Americas and helped lead the successful transition of the business unit to new ownership by Nokia Siemens Networks. Chestnutt was previously Chairman and Chief Executive Officer of Grande Communications, a facilities-based, "triple-play" communications provider in Texas. His responsibilities included leading the transition of Grande from startup to a full service, market-driven company, resulting in the successful sale of the company. Prior to joining Grande, Chestnutt was the senior vice president of National Field Sales and General Business for Sprint-Nextel. From 2000 to 2005, Chestnutt held positions at Nextel Communications as regional vice president of the Southwest in Austin and of the West in the San Francisco Bay Area. He also has general management experience with PrimeCo Personal Communications and AirTouch Cellular. Mr. Chestnutt also served on the Board of the GSMA and chaired the Strategy Committee of 25 Global Telecom Heads. He earned an MBA from the University of San Francisco, and a B.S. in Business Administration from San Jose State University. The board of directors appointed Mr. Chestnutt to serve as a director based on the entirety of his experience and skills, although the board noted specifically his broad knowledge of the wireless industry and extensive industry relationships.
In connection with his appointment to the board of directors, Mr. Chestnutt will receive substantially the same equity and cash compensation for services as the Company provides to other non-employee director, including for committee service. The Company reviews and may change its compensation for directors from time to time, however the compensation for directors that is currently in effect is disclosed in the Company’s definitive proxy statement filed December 21, 2017.
Mr. Chestnutt’s committee assignments have not yet been determined.
There are no transactions, or proposed transactions, to which the Company is or was to be a party and in which Mr. Chestnutt had a direct or indirect material interest that are required to be disclosed under Item 404(a) of Regulation S-K, nor are there any family relationships among Mr. Chestnutt and any other directors or officers of the Company.
A copy of the press release regarding the above is attached hereto as Exhibit 99.1 and incorporated by reference herein.
|Item 9.01.||Financial Statements and Exhibits.|
|99.1||Press release dated April 25, 2018|
Digital Turbine, Inc. ExhibitEX-99.1 2 tv495986_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Digital Turbine Appoints Roy H. Chestnutt to its Board of Directors Former Verizon EVP and Chief Strategy Officer to Join in June Austin,…To view the full exhibit click
About Digital Turbine, Inc. (NASDAQ:APPS)
Digital Turbine, Inc. is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content. The Advertising segment consists of two businesses: Operator and OEM (O&O) and Advertiser and Publisher (A&P). The O&O business is an advertiser solution for carrier and OEM inventory consisting of services, such as Ignite, a mobile device management platform and Discover, an intelligent application discovery platform. Its A&P business is a mobile user acquisition network across the world consisting of services, such as syndicated network and real time bidding (RTB). The Content segment consists of services, including Marketplace, which is an application and content store, and Pay, which is a content management and mobile payment solution.