DUNKIN BRANDS GROUP, INC. (NASDAQ:DNKN) 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.
DUNKIN BRANDS GROUP, INC. (NASDAQ:DNKN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 22, 2017 the Board of Directors (the “Board”) of Dunkin’ Brands Group, Inc. (the “Company”) elected Linda W. Boff as a member of the Board. The Board increased the size of the Board from eight to nine members and appointed Ms. Boff to fill the vacancy. Ms. Boff, age 55, serves as Chief Marketing Officer for General Electric Company (“GE”). Ms. Boff joined GE in 2004 and has held a series of leadership positions with GE including Executive Director, Global Digital Marketing and Global Director, Marketing Communication. She was named to her current position in 2015.
Ms. Boff will serve as a Class III director, which class will stand for re-election at the 2020 annual meeting of stockholders. Ms. Boff is also expected to serve as a member of the Board’s Compensation Committee.
Ms. Boff will participate in the Company’s standard director compensation program. to this program, each member of the Board who is not an employee of the Company receives an annual retainer of $70,000. In addition, such directors receive an annual grant of restricted stock units with a fair market value equal to $110,000 and are eligible to receive additional retainers for committee membership.
In addition, Ms. Boff and the Company entered into the Company’s standard indemnification agreement, the terms of which are described in the Company’s Registration Statement on Form S-1 (File No. 333-173898) (the “Registration Statement”) and a form of such agreement was filed as Exhibit 10.24 to the Registration Statement.
On May 23, 2017, the Company issued a press release announcing the appointment of Ms. Boff to the Board. A copy of the press release has been filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
99.1 Press Release of Dunkin’ Brands Group, Inc. dated May 23, 2017
About DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN)
Dunkin’ Brands Group, Inc. is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S. The Dunkin’ Donuts U.S. segment is the United States QSR concept, and markets donut and bagel categories for servings. The Baskin-Robbins-U.S. segment is engaged in serving hard-serve ice cream, and develops and sells a range of frozen ice cream treats, such as cones, cakes, sundaes and frozen beverages. The Company’s Dunkin’ Donuts International segment franchisees are responsible for sourcing their own supplies with its standards. As of December 31, 2016, Baskin-Robbins International segment had a manufacturing network, which consisted of 14 facilities. DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) Recent Trading Information
DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) closed its last trading session down -0.05 at 55.64 with 774,551 shares trading hands.
Dunkin’ Brands Group, Inc. is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S. The Dunkin’ Donuts U.S. segment is the United States QSR concept, and markets donut and bagel categories for servings. The Baskin-Robbins-U.S. segment is engaged in serving hard-serve ice cream, and develops and sells a range of frozen ice cream treats, such as cones, cakes, sundaes and frozen beverages. The Company’s Dunkin’ Donuts International segment franchisees are responsible for sourcing their own supplies with its standards. As of December 31, 2016, Baskin-Robbins International segment had a manufacturing network, which consisted of 14 facilities. DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) Recent Trading Information
DUNKIN’ BRANDS GROUP, INC. (NASDAQ:DNKN) closed its last trading session down -0.05 at 55.64 with 774,551 shares trading hands.