MoneyGram International, Inc. (NASDAQ:MGI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On December27, 2017, MoneyGram International, Inc. (the “Company”) and Pamela H. Patsley, Executive Chairman of the Company’s board of directors (the “Board”), entered into an amendment (the “Amendment”) to the Employment Agreement, dated July30, 2015, by and between the Company and Ms.Patsley (previously filed as Exhibit 10.2 to the Company’s Current Report on Form 8-K filed on July31, 2015). to the Amendment, Ms.Patsley’s term as Executive Chairman of the Board has been extended until February2, 2018.
Also on December28, 2017, Ms.Patsley announced that she will retire as Executive Chairman of the Board, effective February2, 2018. Ms.Patsley has served as Chairman or Executive Chairman of the Board since 2009. Her decision to retire did not involve any disagreement with the Company, the Company’s management or the Board. On December 28, 2017, the Board announced that it has appointed W. Alexander Holmes as Chairman of the Board, effective February2, 2018. Mr.Holmes has served as a member of the Board since 2015 and as the Company’s Chief Executive Officer since 2016.
The foregoing description of the Amendment is a summary, does not purport to be complete and is qualified in its entirety by reference to the complete text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
| Item 5.02 | Regulation FD Disclosure. |
On December28, 2017, the Company issued a press release announcing Ms.Patsley’s retirement and Mr.Holmes’s election as Chairman of the Board, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 5.02, including Exhibit 99.1, is furnished to Item 5.02 and shall not be deemed “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 5.02 | Financial Statements and Exhibits. |
(d)Exhibits
MONEYGRAM INTERNATIONAL INC ExhibitEX-10.1 2 d695784dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 December 27,…To view the full exhibit click here
About MoneyGram International, Inc. (NASDAQ:MGI)
MoneyGram International, Inc. is a provider of money transfer services. The Company operates through two segments: Global Funds Transfer and Financial Paper Products. The Company’s Global Funds Transfer segment offers money transfer services and bill payment services primarily to unbanked and underbanked consumers. It utilizes point-of-sale platforms, including AgentConnect, DeltaWorks, Delta T3 and MoneyGram Online. The bill payment service includes ExpressPayment service. The Company offers its services under the MoneyGram brand. The Company’s Financial Paper Products segment offers money orders to consumers through its retail agents and financial institutions located across the United States and Puerto Rico. Its Financial Paper Products segment provides official check outsourcing services for financial institutions across the United States. The Company also offers Digital/Self-Service solutions, such as moneygram.com, mobile solutions, account deposit and kiosk-based services.
