PARTY CITY HOLDCO INC. (NYSE:PRTY) 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 April12, 2018, the Board of Directors (the “Board”) of Party City Holdco Inc. (the “Company”) elected Douglas Haber to the Board, effective April12, 2018. Mr.Haber will be a ClassI director and will hold office until the 2019 annual meeting of shareholders and until his successor is elected and qualified. The Board does not expect to appoint Mr.Haber to any Board committee at this time.
Mr.Haber was appointed to the board as a representative of investment funds affiliated with Thomas H. Lee Partners, L.P. (“THL”), to the Second Amended and Restated Stockholders Agreement dated as of March12, 2018, by and among the Company, THL PC Topco, L.P., Advent Party City Acquisition Limited Partnership and the other stockholders party thereto. Mr.Haber will not receive any compensation for his service as a member of the Board.
Since the beginning of the Company’s last fiscal year through the present, there have been no transactions with the Company, and there are currently no proposed transactions with the Company, in which the amount involved exceeds $120,000 and in which Mr.Haber had or will have a direct or indirect material interest within the meaning of Item404(a) of Regulation S-K.
In addition, Mr.Haber and the Company entered into the Company’s standard indemnification agreement, the terms of which are described in the Company’s Registration Statement on Form S-1 (File No.333-193466) (the “Registration Statement”) and a form of such agreement was filed as Exhibit 10.2 to the Registration Statement.
About PARTY CITY HOLDCO INC. (NYSE:PRTY)
Party City Holdco Inc. is a party goods retailer and supplier of decorated party goods. The Company operates through two segments: Retail and Wholesale. The Wholesale segment designs, manufactures, contracts for manufacture and distributes party goods, including paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts and stationery throughout the world. The Retail segment operates specialty retail party supply stores in the United States and Canada, principally under the names Party City and Halloween City, and it operates e-commerce Websites, principally through the domain name PartyCity.com. The Retail segment also franchises both individual stores and franchise areas throughout the United States, Mexico, and Puerto Rico, principally under the name Party City. Its Party City network consists of approximately 860 superstore locations in the United States and approximately 50 locations in Canada.