INTERSECTIONS INC. (NASDAQ:INTX) 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
|
Departures of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 16, 2017, the Compensation Committee of Intersections
Inc. (the “Company”) approved grants of long-term incentive
awards under the Company’s 2014 Stock Incentive Plan, as
amended, to the named executive officers as set forth below:
|
Name |
Stock Options
|
RSU Awards
|
|
|
Michael R. Stanfield
|
1,250,000 |
360,000 |
|
|
Johan J. Roets
|
420,000 |
120,000 |
|
|
Ronald L. Barden
|
— |
80,000 |
The stock options and time-based restricted stock units shall
vest in full on January 2, 2019, subject to acceleration under
certain circumstances. The stock options have an exercise price
equal to $4.35 per share, which is equal to the fair market value
of the shares on the close of business on June 16, 2017, and
shall only be exercisable on a “net exercise” basis.
In addition, on June 16, 2017, the Compensation Committee of the
Company approved supplemental cash payments to the named
executive officers payable over a 6-month period in 2017 in
various installments, in the following amounts: Mr.
Stanfield$200,000; Mr. Roets$300,000 and Mr. Barden$100,000.
About INTERSECTIONS INC. (NASDAQ:INTX)
Intersections Inc. uses data to enable consumers reduce risk through subscription services. The Company’s operating segments include Personal Information Services, Insurance and Other Consumer Services, and Bail Bonds Industry Solutions. The Company’s Personal Information Services business segment focuses on helping consumers understand, monitor, manage and protect against the risks associated with third parties misusing their personal information and violating their privacy. The Company’s Insurance and Other Consumer Services business segment focuses on helping consumers use insurance and other services to manage various personal risks and achieve personal goals. The Company’s Bail Bonds Industry Solutions business segment focuses on automating the bail bonds industry. The Company offers IDENTITY GUARD portfolio of services. The Company’s insurance products are sold and administered pursuant to contracts with insurance companies.