Market Exclusive

ROADRUNNER TRANSPORTATION SYSTEMS, INC. (NYSE:RRTS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ROADRUNNER TRANSPORTATION SYSTEMS, INC. (NYSE:RRTS) 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.

On June 27, 2019, we issued a press release announcing Terence R. Rogers was resigning as our Executive Vice President and Chief Financial Officer. The effective date of Mr. Rogers’ resignation was August 30, 2019. On August 30, 2019, we and Mr. Rogers entered into a Separation Agreement and Release (the “Separation Agreement”). The Separation Agreement provides that, if Mr. Rogers does not revoke his acceptance of the Separation Agreement within the applicable seven-day revocation period, (a) Mr. Rogers will receive his base salary for a period of twelve (12) months and (b) Mr. Rogers will receive a lump sum payment equal to twelve (12) times the monthly COBRA premium that would be necessary to permit him to continue group insurance coverage under our plans for such 12-month period. The Separation Agreement contains a release that is binding upon Mr. Rogers.
The foregoing is a summary only and does not purport to be a complete description of all of the terms, provisions, covenants and agreements contained in the Separation Agreement, and is subject to and qualified in its entirety by reference to the complete text of the Separation Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2019.
About ROADRUNNER TRANSPORTATION SYSTEMS, INC. (NYSE:RRTS)

Roadrunner Transportation Systems, Inc. (RRTS) is an asset-light transportation and logistics service provider. The Company offers a suite of global supply chain solutions, including truckload logistics (TL), customized and expedited less-than-truckload (LTL), intermodal solutions (transporting a shipment by over one mode, primarily through rail and truck), freight consolidation, inventory management, expedited services, air freight, international freight forwarding, customs brokerage and transportation management solutions. The Company operates through three segments: Truckload Logistics, Less-than-Truckload and Global Solutions. The Company utilizes a third-party network of transportation providers, consisting of independent contractors (ICs) and purchased power providers, to serve a diverse customer base. It primarily focuses on small to mid-size shippers.