Ritchie Bros. Auctioneers Incorporated (TSE:RBA) 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
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 14, 2017, the Board of Directors (the
Board) of Ritchie Bros. Auctioneers Incorporated
(theCompany) resolved to increase the size of
the Board from eight to ten directors and has appointed J. Kim
Fennell and Amy Guggenheim-Shenkan as directors of the Company to
fill the resulting vacancies, effective July 1, 2017. The Board
has appointed Mr. Fennell to serve on the Compensation Committee
of the Company and Ms. Guggenheim-Shenkan to serve on the Audit
Committee of the Company. There were no arrangements or
understandings to which either Mr. Fennell or Ms.
Guggenheim-Shenkan were appointed as directors, and there are no
relationships between either Mr. Fennell or Ms.
Guggenheim-Shenkan and the Company that would require disclosure
under Item 404(a) of Regulation S-K.
Both Mr. Fennell or Ms. Guggenheim-Shenkan will participate in
the Companys standard director compensation program. The program
generally in effect for the current fiscal year ending December
31, 2017 is described in Non-Executive Director Compensation in
the Companys proxy statement for its 2017 Annual and Special
Meeting of Shareholders filed with the Securities and Exchange
Commission on March 20, 2017.
| Item 7.01 | Regulation FD Disclosure. |
The Company issued a press release on June 14, 2017 announcing
the appointments of Mr. Fennell and Ms. Guggenheim-Shenkan. The
press release is attached hereto as Exhibit 99.1 and is
incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit Number | Description |
| 99.1 | Press release dated June 14, 2017 |
About Ritchie Bros. Auctioneers Incorporated (TSE:RBA)
Ritchie Bros. Auctioneers Inc is a Canada-based holding company. The Company is an auctioneer of industrial equipment. The Company is engaged in selling industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries at its unreserved auctions and online marketplaces. The Company focuses on the sale of heavy machinery. The Company operates through the following segments: Core Auction segment and EquipmentOne segment. Core Auction segment offers a network of auction locations that conduct live, unreserved auctions with both on-site and online bidding. EquipmentOne segment is an online marketplace that facilitates private equipment transactions. The Company sells equipment through unreserved auctions at approximately 40 auction sites across the world. The majority of the assets sold through the Company’s sales channels are classified as construction machinery.
