Etsy, Inc. (NASDAQ:ETSY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 14, 2018, the Compensation Committee of the Board of Directors of Etsy, Inc. (“Etsy”) approved an amended and restated Etsy, Inc. Executive Severance Plan (the “Severance Plan”) effective as of January 1, 2019, primarily to provide pro rata cash bonus payments to all participants, other than Etsy’s Chief Executive Officer, upon a Qualifying Termination (as defined in the Severance Plan).
In addition, the Compensation Committee determined to extend the period during which a participant will receive continued salary payments and healthcare continuation coverage upon a Qualifying Termination other than in connection with a Change in Control (as defined in the Severance Plan) to 12 months for any participant who is a Senior Vice President of Etsy or above. This extension applies to certain of Etsy’s named executive officers other than Etsy’s Chief Executive Officer and Chief Financial Officer, whose current salary and healthcare continuation periods remain unchanged.
The description of the amended and restated Severance Plan is qualified in its entirety by reference to the full text of the Severance Plan, which is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No.Description
ETSY INC Exhibit
EX-99.1 2 ex991severanceplan1218.htm EXHIBIT 99.1 Exhibit Exhibit 99.1ETSY,…
To view the full exhibit click here
About Etsy, Inc. (NASDAQ:ETSY)
Etsy, Inc. (Etsy) operates a marketplace to connect people around the both online and offline for making, selling and buying goods. The Company’s geographical segments include United States and International. The Company’s community includes Etsy sellers, Etsy buyers, wholesale partners, manufacturers and Etsy employees. The Company’s platform includes marketplace, Seller Services, technology and community, both online and offline. The Company offers a range of services to help Etsy sellers build their personal brands, engage customers and complete transactions. The Company has over three seller services: Promoted Listings, Direct Checkout and Shipping Labels. Its Promoted Listings offering enables an Etsy seller to pay a cost-per-click-based fee to feature and promote her goods in search results generated by Etsy buyers on its platform. Its Direct Checkout offering allows Etsy sellers to accept various forms of payment, such as credit cards, debit cards, PayPal and Etsy gift cards.
