RigNet,Inc. (NASDAQ:RNET) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 9.01.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective January17, 2018, the board of directors (the “Board”) of RigNet, Inc. (the “Company”) unanimously voted to increase the size of the Board from nine to ten directors and, upon the recommendation of the Corporate Governance and Nominating Committee, appointed Gail Smith to fill the resulting vacancy. Ms.Smith will also serve on the Board’s Corporate Governance and Nominating Committee.
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 exceeds $120,000 and in which Ms.Smith had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K. There are no arrangements or understandings between Ms.Smith and the Company or any other person to which she was selected as a director of the Company
As a director, Ms.Smith will participate in the standard non-employee director compensation arrangements described on pages 14 through 15 of the Company’s 2017 Proxy Statement, filed with the Securities and Exchange Commission on April3, 2017. Ms.Smith has directed that her non-employee director cash compensation be paid to her through her private limited liability company, Cascade Dynamics SPRLu. In addition, Ms.Smithand the Companywill enterinto the Company’s standard indemnification agreement, a form of such agreement was filed as Exhibit 10.1to the Form 8-K filed with the Securities and Exchange Commission on December14, 2017.
A copy of the press release in which Ms.Smith’s appointment was announced is furnished as Exhibit 99.1 to this report.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits:
RigNet, Inc. ExhibitEX-99.1 2 d480996dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 PRESS RELEASE Gail Smith Joins RigNets Board of Directors HOUSTON January 10,…To view the full exhibit click here
About RigNet,Inc. (NASDAQ:RNET)
RigNet, Inc. (RigNet) is a provider of digital technology solutions to the oil and gas industry. The Company provides managed remote communications, managed services and collaborative applications, focusing on offshore and onshore drilling rigs, energy production facilities, and energy maritime. The Company operates through three segments: Eastern Hemisphere, Western Hemisphere and RigNet Systems Integration and Automation. The Company’s Eastern Hemisphere segment provides remote communications services for customers and rig sites located on the eastern side of the Atlantic Ocean. The Company’s Western Hemisphere segment provides remote communications services for onshore and offshore customers and rig sites located on the western side of the Atlantic Ocean. The Company’s RigNet Systems Integration and Automation segment designs, assembles, installs and commissions solutions for customer telecommunications systems.