Forterra, Inc. (NASDAQ:FRTA) 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 January 10, 2019, the Board of Directors (the “Board”) of Forterra, Inc. (the “Company”),appointed Allison Navitskas to serve as a Class I member of the Board to fill the vacancy created by the previously disclosed resignation of Dominic LaValle. In addition, the Board appointed Class I Board member Chad Lewis to the Compensation Committee of the Board.
Ms. Navitskas, age 43, serves as a Managing Director, Global Business Development and Strategy, with Lone Star Funds, or Lone Star, an affiliate of the Company and its controlling stockholder, a position she has held since March 2018. Previously, Ms. Navitskas was a Managing Director with Hudson Advisors L.P., or Hudson, a related party of Lone Star, serving in a variety of roles including Head of Asset Management for LStar Capital, a corporate direct lending platform, from September 2016 to February 2018, and as Director, Senior Counsel from August 2014 through August 2016. During her time at Hudson, Ms. Navitskas provided services in both business and legal capacities, which have included negotiation and closing of numerous acquisitions, asset sales and lending transactions as an in-house attorney, as well as heading the asset management and workout practice for LStar Capital. Ms. Navitskas has served on the board of directors for several private companies. Prior to joining Hudson in 2012, Ms. Navitskas was Vice President/Associate General Counsel at FelCor Lodging Trust Incorporated, a real estate investment trust in the hospitality sector. Ms. Navitskas was engaged in the private practice of law with Jenkens & Gilchrist P.C. and later at Hunton & Williams LLP specializing in financial institutions, mergers and acquisitions, corporate finance, and securities law. She is a graduate of Columbia College. She earned a juris doctor degree from the University of Michigan Law School and an MBA from the University of Michigan’s Ross School of Business. Ms. Navitskas also holds the Chartered Financial Analyst® designation.
As a non-independentdirector, Ms. Navitskas will not receive any compensation from the Company for her services rendered as a member of the Board; however, as previously disclosed, the Company enters into indemnification agreements with each of the Company’s directors, including Ms. Navitskas. Other than through her position with Lone Star, as discussed above, there was no arrangement or understanding between Ms. Navitskas and any other person to which she was selected as a director. Other than transactions involving the Company and its controlling stockholder, as disclosed in greater detail in the Company’s definitive proxy statement for the Company’s 2018 annual meeting of stockholders, and which disclosure is incorporated herein by reference, there are no transactions that would require disclosure herein to Item 404(a) of Regulation S-K.
About Forterra, Inc. (NASDAQ:FRTA)
Forterra, Inc. is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
