Square, Inc. (NYSE:SQ) 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.
On July19, 2017, the board of directors (the “Board”) of Square, Inc. (the “Company”) increased the size of the Board to nine directors and appointed Randy Garutti to the Board as a Class III director and as a member of the Nominating and Corporate Governance Committee.
Mr.Garutti, age 42, has served as Chief Executive Officer and on the board of directors of Shake Shack since April 2012. Prior to becoming Chief Executive Officer, Mr.Garutti served as Chief Operating Officer of Shake Shack since January 2010. There is no arrangement or understanding between Mr.Garutti and any other persons to which Mr.Garutti was appointed as a director. Furthermore, there are no family relationships between Mr.Garutti and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed to Item404(a) of Regulation S-K.
Mr.Garutti will receive the Company’s standard remuneration for non-employee directors in accordance with the Company’s Outside Director Compensation Policy, as described in the proxy statement relating to the Company’s 2017 annual meeting of stockholders. Mr.Garutti has also executed the Company’s standard form of indemnification agreement.
A copy of the press release announcing Mr.Garutti’s appointment is filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 5.02 Financial Statements and Exhibits.
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ExhibitNo. |
Description |
| 99.1 | Press Release, dated July20, 2017. |
Square, Inc. ExhibitEX-99.1 2 d427590dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Square Names Shake Shack CEO Randy Garutti to Board of Directors SAN FRANCISCO,…To view the full exhibit click here
About Square, Inc. (NYSE:SQ)
Square, Inc. enables payment processing, and also offers financial and marketing services. The Company provides sellers various tools to start, run, manage and grow their businesses. It serves sellers of all sizes, ranging from a single vendor at a farmers’ market to multinational businesses. It serves as a payment service provider, acting as the touch point for the seller to the rest of the payment chain. Square Register is a point of sale (POS) software application for iPhone operating software (iOS) and Android, and is available to sellers across the world. Square Reader for magnetic stripe cards plugs into the standard headset jack of a mobile device, enabling swiped transactions. Square Customer Engagement helps sellers analyze and understand their businesses, engage their buyers in ongoing conversations, and promote their offerings through e-mail marketing. Caviar offers a food delivery service to help restaurants reach new customers.
