LIBERTY TAX, INC. (NASDAQ:TAX) 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.
On December 15, 2017, Steven Ibbotson submitted his resignation from the Board of Directors (the “Board”) of Liberty Tax, Inc. (the “Company”), effective immediately. Mr. Ibbotson served as the chair of the Compensation Committee and as a member of the Audit Committee and the Nominating and Corporate Governance Committee of the Company.
In a letter to the Board and Company management, dated December 15, 2017, Mr. Ibbotson indicated that his decision to resign was a result of his concerns with the actions of John T. Hewitt, the Chairman of the Board and former Chief Executive Officer of the Company, as a result of his rights as the sole holder of the Class B common stock and voting control at the Board level. The foregoing description of this letter is qualified in its entirety by reference to the full text of the letter, a copy of which is filed herewith as Exhibit 17.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
Liberty Tax, Inc. ExhibitEX-17.1 2 tv481555_ex17-1.htm EXHIBIT 17.1 Exhibit 17.1 December 15,…To view the full exhibit click here
About LIBERTY TAX, INC. (NASDAQ:TAX)
Liberty Tax, Inc. is the holding company for JTH Tax, Inc. The Company is a provider of tax preparation services. The Company provides retail federal and state income tax preparation services and related tax settlement products in the United States and Canada. The Company’s tax preparation services and related tax settlement products are offered primarily through franchised locations. All of the Company’s offices are operated under the Liberty Tax Service and SiempreTax+ brands. The Company also provides an online digital Do-It-Yourself (DIY) tax program in the United States. The Company offers two types of tax settlement financial products: refund transfer products, which include providing a means by which a customer receives his or her refund, and refund-based loans. The Company’s LibTax software allows tax customers to have their federal and state income tax returns filed electronically.