RED LION HOTELS CORPORATION (NYSE:RLH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

RED LION HOTELS CORPORATION (NYSE:RLH) 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.

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(c) On May24, 2018, the board of directors of Red Lion Hotels Corporation (the “Company”) promoted Nate Troup, our Senior Vice President, Chief Accounting Officer, to the position of principal accounting officer.

Prior joining the Company on May8, 2018, Mr.Troup was the Vice President, Chief Accounting Officer and Corporate Controller for Westmoreland Coal Company (WCC) from June 2015. At WCC he was responsible for the accounting department of both WCC and Westmoreland Resource Partners, LP (WMLP), a publicly traded subsidiary of WCC, where he oversaw technical accounting, SEC reporting, financial close and internal controls. Additionally, since 2016, Mr.Troup served as the Interim Chief Financial Officer for WMLP.

From 2011 until 2015, Mr.Troup held several progressive roles including Vice President, Chief Accounting Officer, Controller during his tenure at DigitalGlobe, Inc. Prior to DigitalGlobe, Troup held roles at The Siegfried Group, LLP and Ernst& Young.

There are no arrangements or understandings between Mr.Troup and any other persons to which he was selected as an officer and he has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.

On April5, 2018, we entered into a letter agreement with Mr.Troup, effective as of his start date of May8, 2018, under which he would be employed by us on an at-will basis, and which contains the following terms regarding his compensation:

Mr.Troup is entitled to an annual base salary of $240,000, and is eligible to participate in our executive officer bonus plan, with an initial target bonus for 2018 equal to 40% of his base salary, prorated for the portion of the year he is employed by the Company. Mr.Troup also received a one-time starting bonus of $20,000, which he will be required to repay if he leaves the Company prior to the one year anniversary of his start date. Mr.Troup is eligible to receive an annual grant of equity under our 2015 Stock Incentive Plan in the discretion of our Compensation Committee. Such equity grant would be equal in value to 40% of Mr.Troup’s annual base salary, a portion of which would be in the form of restricted stock units (RSUs) that will vest annually in equal tranches of 25% on each of the four anniversaries of the grant date, and the balance of which would be issued in the form of performance stock units (“PSUs”) that will vest in accordance with performance metrics to be determined by the Compensation Committee in its sole discretion and consistent with the terms and conditions of PSUs issued to the Company’s other executive officers.

Mr.Troup will be eligible to participate in the employee benefits programs that are available to any newly hired senior vice president, as well as other benefits that are subsequently added for senior vice presidents for which he is qualified as an officer of the Company.

Mr.Troup is also entitled to certain severance benefits if his employment is terminated by the Company. If the Company terminates Mr.Troup at any time without cause, he will be entitled to receive a lump-sum severance payment equal to one-half of his base annual salary for the year in which the termination occurs.

Item 5.02 Submission of Matters to a Vote of Security Holders.

At our annual meeting of shareholders on May24, 2018, three matters were submitted to a vote of our shareholders. The voting results were as follows:

1. Election of Directors. Each of the following nine individuals were elected to serve on our board of directors for terms that end at the 2019 annual meeting of shareholders. The number of votes cast for and against each nominee, the number of abstentions and the number of broker non-votes, were as follows:

Nominee

For Against Abstain Broker Non-Votes

Ray Brandstrom

14,195,202 364,451 8,629,075

Jim Evans

14,171,536 388,219 8,629,075

Enrico Marini Fichera

13,899,347 649,088 11,621 8,629,075

Joseph Megibow

14,244,660 315,093 8,629,075

Greg Mount

14,247,766 311,887 8,629,075

Bonny Simi

14,241,690 318,063 8,629,075

Michael Vernon

14,151,979 407,574 8,629,075

Alexander Washburn

13,966,601 593,152 8,629,075

Bob Wolfe

14,248,096 311,557 8,629,075

2. Ratification of appointment of auditors. The shareholders ratified the appointment of BDO USA, LLP as our independent registered public accounting firm for 2018. The number of votes cast for and against the proposal, and the number of abstentions, were as follows:

For

Against

Abstain

22,728,364

459,231 1,536

3. Advisory vote on executive compensation. The shareholders approved, on an advisory basis, the compensation of the named executive officers as disclosed in the proxy statement for the annual meeting under the captions “Compensation Discussion and Analysis” and “Executive Compensation”. The number of votes cast for and against the proposal, and the number of abstentions and broker non-votes, were as follows:

For

Against

Abstain

Broker

Non-Votes

14,323,104

236,176 8,629,075


About RED LION HOTELS CORPORATION (NYSE:RLH)

Red Lion Hotels Corporation (RLHC) is a hospitality and leisure company. The Company is engaged in the franchising, management and ownership of hotels under the brands, including Hotel RL, Red Lion Hotel, Red Lion Inn & Suites, GuestHouse and Settle Inn & Suites (collectively the RLHC Brands). The RLHC brands represent upscale, midscale and economy hotels. The Company’s segments include company operated hotel segment, franchised hotels segment, entertainment segment and other. The hotels segment is engaged in guest room rentals, and food and beverage operations at its operated hotels. The franchised hotels segment is engaged in licensing its brands to franchisees. It offers various programs, which include its reservation system, guest loyalty program, national and regional sales, revenue management tools, quality inspections, advertising and brand standards. The entertainment segment consists of its WestCoast Entertainment and TicketsWest operations.

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