RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Director
On March 30, 2017, Mr. Tyrone Brown resigned as a member of the Board of Directors of the Company (the “Board”), effective April 1, 2017.
Appointment of Director
On March 30, 2017, the Board, based upon the recommendation of its Nominating and Governance Committee, appointed Mr. H. Van Sinclair to be a director of the Company, effective April 1, 2017, to fill the vacancy created by the resignation of Mr. Brown. Mr. Sinclair was also subsequently appointed to the Compensation Committee. The Board determined that Mr. Sinclair is an “independent director” as defined in Rule 5605(a)(2) of the NASDAQ Listing Rules.
In connection with the appointment of Mr. Sinclair to the Board, the Company will enter into an Indemnity Agreement with him in the form previously filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the SEC on October 10, 2012 and incorporated herein by reference. His compensation for service as a Board member will be consistent with the compensation disclosed under the heading “Director Compensation” in the Company’s 2016 annual report on Form 10-K filed with the SEC on March 23, 2017 and incorporated herein by reference.
About RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE)
RLJ Entertainment, Inc. (RLJE) is a global entertainment content distribution company. RLJE is a film and television licensee focusing on action, thriller and horror independent feature films. RLJE operates through three segments: Intellectual Property (IP) Licensing; Wholesale, and Direct-to-Consumer. The IP Licensing segment includes IP rights that the Company owns, produces and then exploits in various formats, including digital versatile disc, Blu-ray, digital, broadcast, video on demand, streaming video, downloading and sublicensing. The Wholesale segment exploits the content to third parties, such as Walmart, Best Buy, Target, Amazon and Costco, while the Direct-to-Consumer segment distributes directly to the consumer through different exploitation channels. The Direct-to-Consumer segment distributes film and television content through its subscription-based, digitally streaming channels (Acorn TV and Urban Movie Channel (UMC)), its e-commerce Websites and mail-order catalogs. RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE) Recent Trading Information
RLJ ENTERTAINMENT, INC. (NASDAQ:RLJE) closed its last trading session up +0.01 at 2.47 with 27,659 shares trading hands.
