On Deck Capital, Inc. (NYSE:ONDK) 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
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Deck Capital, Inc. (the Company) increased the size of the Board
from eight to nine members and elected James A. Rosenthal as a
director of the Company, effective April 3, 2017. Effective April
3, 2017, Mr. Rosenthal will also serve on the Board’s Risk
Management Committee and Compensation Committee. To accommodate the
addition of Mr. Rosenthal to those committees, the size of the Risk
Management Committee will be expanded from four to five members and
the size of the Compensation Committee will be expanded from three
to four members.
Board and committee service in accordance with the Company’s
standard compensation arrangements for non-employee directors,
which are described under the caption Outside Director Compensation
Policy in the Company’s definitive proxy statement on Schedule 14A
filed with the Securities and Exchange Commission (the SEC) on
March 28, 2016. Such compensation may be adjusted by the Board from
time to time.
indemnification agreement and will be entitled to the
indemnification rights granted to the Company’s directors, which
are described under the caption Limitation on Liability and
Indemnification Matters in the Company’s definitive proxy
statement on Schedule 14A filed with the SEC on March 27, 2015.
requiring disclosure under Item 404(a) of Regulation S-K. There is
no arrangement or understanding between Mr. Rosenthal and any other
persons to which he was selected as a director.
the election of Mr. Rosenthal is attached hereto as Exhibit 99.1
and incorporated herein by reference. The information set forth in
the press release shall not be deemed filed for purposes of the
Securities Exchange Act of 1934, as amended, or incorporated by
reference in any filing under the Securities Act of 1933, as
amended, regardless of any general incorporation language in such
filing, unless expressly incorporated by specific reference in such
filing.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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99.1
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Press release, dated March 20, 2017.
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About On Deck Capital, Inc. (NYSE:ONDK)
On Deck Capital, Inc. offers an online platform for small business lending. The Company’s platform aggregates and analyzes data points from disparate data sources to assess the creditworthiness of small businesses. Small businesses apply for a term loan or line of credit on the Company’s Website, and using its OnDeck Score, the Company makes a funding decision and transfers the funds. It offers a financing solution for small businesses, including short-term loans of over 10 months and long-term loans of over 40 months, and lines of credit. The Company’s integrated platform includes the Company’s Website, which allows small businesses to apply for a loan, round the clock; data and analytics engine, which analyzes data attributes from disparate sources to assess the real-time creditworthiness of a small business; the technology, which offers funding of loans, and daily and weekly collections, and ongoing servicing system. On Deck Capital, Inc. (NYSE:ONDK) Recent Trading Information
On Deck Capital, Inc. (NYSE:ONDK) closed its last trading session down -0.12 at 4.63 with 639,361 shares trading hands.