Travelport Worldwide Limited (NYSE:TVPT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On March 13, 2017, our Board of Directors (the “Board”) appointed Elizabeth L. Buse to the Compensation Committee of our Board and John B. Smith to the Nominating and Corporate Governance Committee of our Board. In connection with such appointments, Ms. Buse and Mr. Smith each will be paid $10,000 in cash per year as compensation for her and his service as a member of the Compensation Committee and Nominating and Corporate Governance Committee, respectively, of the Board, consistent with the compensation paid to the other members of our Board.

On March 15, 2017, our Board designated Rose Thomson, our Executive Vice President and Chief Human Resources Officer as an executive officer of Travelport Worldwide Limited (“the Company”).

On March 15, 2017, the Compensation Committee of the Board of the Company approved grants of time-vested restricted share units (“RSUs”) and performance-vested performance share units (“PSUs”) to certain executives of the Company. The RSUs will vest one-fourth annually over a period of four years, and the PSUs will cliff vest at the end of three years based on our achievement against certain established performance targets. Vesting and operation of all awards will be subject to and on the terms and conditions to be set forth in the award agreements, which will be filed with the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2017.

Grants to our Named Executive Officers were as follows:

Gordon Wilson — 89,943 RSUs and 269,828 PSUs;

Stephen Shurrock — 30,662 RSUs and 91,987 PSUs;

Bernard Bot — 30,662 RSUs and 91,987 PSUs; Matthew Minetola — 20,442 RSUs and 61,325 PSUs; Thomas Murphy — 14,309 RSUs and 42,927 PSUs.

About Travelport Worldwide Limited (NYSE:TVPT)

Travelport Worldwide Limited provides a travel commerce platform, which offers distribution, technology, payment, mobile and other solutions for the travel and tourism industry. The Company connects travel providers, such as airlines and hotel chains with online and offline travel agencies and other travel buyers in its business-to-business (B2B) travel commerce platform (its Travel Commerce Platform). It also provides a range of digital and mobile services that allow airlines, hotels, corporate travel management companies and travel agencies to engage with their customers through mobile services, including applications, corporate booking tools, mobile Web and mobile messaging. Travel Commerce Platform connects travel providers and travel buyers, as well as travel agencies, travel management companies (TMCs) and corporations. As of December 31, 2016, it provided air distribution services to approximately 400 airlines globally, including approximately 125 low cost carriers (LCCs).

Travelport Worldwide Limited (NYSE:TVPT) Recent Trading Information

Travelport Worldwide Limited (NYSE:TVPT) closed its last trading session down -0.01 at 12.12 with 810,432 shares trading hands.