Quantum Corporation (NYSE:QTM) 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 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers
effective May 31, 2017, Mr. Alex Pinchev, Founder and Chief
Executive Officer of CapriVentures LLC has been appointed to the
Board of Directors (the Board) of the Company. Mr. Pinchev was
appointed to the Board to the terms of the settlement agreement,
dated as of March 2, 2017 (the Settlement Agreement) between VIEX
Capital Advisors, LLC and the Company. Mr. Pinchev has been
appointed to the Companys Leadership and Compensation Committee.
set forth in his offer letter, which is filed with this report as
Exhibit 10.1 and incorporated herein by reference and the
Settlement Agreement which was filed by the Company on Form 8-K on
March 3, 2017. He will participate in the Companys standard
compensation and benefits program for outside directors. In
addition, Mr. Pinchev entered into the Company’s Director Change
of Control Agreement and the Company’s Indemnification Agreement,
in the forms filed by the Company on Form 8-K on May 10, 2011 and
April 4, 2007 respectively.
Pinchev (or any immediate family member thereof) requiring
disclosure under Item 404(a) of Regulation S-K.
appointment of Mr. Pinchev, Mr. David Roberson resigned from the
Board, effective May 31, 2017. There were no disagreements between
the director and the Company.
Agreement, the Company announced the Companys Annual Meeting for
the fiscal year ending March 31, 2017 will take place on August 23,
2017 (the 2017 Annual Meeting).
stockholder business to be presented at the 2017 Annual Meeting and
director nominations are as disclosed in the Companys proxy
statement for the Companys annual meeting of stockholders for the
fiscal year ended March 31, 2016, which was filed with the
Securities and Exchange Commission on March 6, 2017.
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Exhibit
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Description
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10.1
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Offer Letter to Mr. Alex Pinchev, dated May 21, 2017
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About Quantum Corporation (NYSE:QTM)
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. It works with a network of distributors, value-added resellers (VARs), direct marketing resellers (DMRs), original equipment manufacturers (OEMs) and other suppliers to meet customers’ evolving needs. Its scale-out storage portfolio includes StorNext software, appliances and full systems called StorNext Pro Solutions, as well as Xcellis workflow storage, QXS disk storage, Lattus extended online storage and Q-Cloud Archive and Vault services. Its StorNext offerings enable customers to manage large unstructured data sets in an information workflow. Quantum Corporation (NYSE:QTM) Recent Trading Information
Quantum Corporation (NYSE:QTM) closed its last trading session up +0.15 at 8.64 with 166,515 shares trading hands.
