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
of the board from nine to ten persons and appointed two new
independent directors, Ms. Bonny Simi and Mr. Joseph Megibow, to
fill the resulting vacancies, effective April 1, 2017. Ms. Simi
and Mr. Megibow will serve until the next election of directors
at our 2017 annual meeting of shareholders, where they are
expected to be nominated to stand for election as directors at
that meeting. Current director Melvin Keating is not standing for
re-election, and his term will end at our 2017 annual meeting of
shareholders.
and Corporate Governance Committees. There are no arrangements or
understandings between Ms. Simi and any other persons concerning
her appointment as director of the Company and she has no direct
or indirect material interest in any transaction required to be
disclosed to Item 404(a) of Regulation S-K. Our board has
affirmatively determined that Ms. Simi is independent of our
company and its management under New York Stock Exchange listing
standards and the standards set forth in our Corporate Governance
Guidelines.
Corporate Governance Committees. There are no arrangements or
understandings between Mr. Megibow and any other persons
concerning his appointment as director of the Company and he has
no direct or indirect material interest in any transaction
required to be disclosed to Item 404(a) of Regulation S-K. Our
board has affirmatively determined that Mr. Megibow is
independent of our company and its management under New York
Stock Exchange listing standards and the standards set forth in
our Corporate Governance Guidelines.
compensation as the other non-employee directors of the Company
as set forth in the Companys most recent proxy statement filed on
April 20, 2016, including an annual retainer of $100,000
(pro-rated for their partial year of service), and annual
retainer fees for any committees to which they are appointed.
Director fees are payable quarterly in advance, and for each
quarter, $17,500 of the fee is paid in shares of RLHC common
stock based on the closing market price on the regularly
scheduled quarterly payment date. The balance of the quarterly
fees are payable in cash, although they may be paid in stock to
the extent a director so elects. Directors are also reimbursed
for their out-of-pocket expenses incurred in connection with
their service on the Board and its committees.
appointment of Ms. Simi and Mr. Megibow to the Board of Directors
is included as Exhibit 99.1 to this Report.
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Exhibit Number
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Description
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99.1
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Press Release dated March 22, 2017
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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. RED LION HOTELS CORPORATION> (NYSE:RLH) Recent Trading Information
RED LION HOTELS CORPORATION> (NYSE:RLH) closed its last trading session 00.00 at 6.80 with 31,950 shares trading hands.
