EVERTEC, Inc. (NYSE:EVTC) 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 28, 2018, the Company announced that each named executive officers of the Company other than Morgan M. Schuessler, Jr., President and Chief Executive Officer of the Company, and Philip E. Steurer, Executive Vice President and Chief Operating Officer of the Company, became a party to the Severance Policy.
On February 22, 2019, Mr. Steurer executed the “Acknowledgment of Evertec Group, LLC Executive Severance Policy and Arbitration Agreement,” to which, among other things, Mr. Steurer agreed that the Severance Policy replaces and supersedes any other severance benefits to which he may become entitled.
The Severance Policy will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018.
About EVERTEC, Inc. (NYSE:EVTC)
EVERTEC, Inc., formerly Carib Latam Holdings, Inc., is a full-service transaction processing company. The Company provides a range of merchant acquiring, payment processing and business process management services. It has three segments: Merchant Acquiring, Payment Processing and Business Solutions. It provides services to merchants that allow them to accept electronic methods of payment, such as debit, credit, prepaid and electronic benefit transfer cards, carrying the ATH, Visa, MasterCard, Discover and American Express brands. It provides a suite of payment processing products and services to blue chip regional and global corporate customers, government agencies and financial institutions across Latin American and the Caribbean. It provides a suite of business process management solutions, which include core bank processing, network hosting and management, information technology (IT) consulting services, business process outsourcing, item and cash processing, and fulfillment.