TrueCar, Inc. (NASDAQ:TRUE) Files An 8-K Results of Operations and Financial Condition

TrueCar, Inc. (NASDAQ:TRUE) Files An 8-K Results of Operations and Financial Condition

Story continues below

Item 2.02 >Results of Operations and Financial Condition.

On February 16, 2017, TrueCar, Inc. (the Company) announced its
financial results for the fiscal quarter and year ended December
31, 2016. The full text of the press release issued in connection
with the announcement is furnished as Exhibit 99.1 to this
Current Report on Form 8-K.
The information in Items 2.02 and 9.01 of this Form 8-K and the
Exhibit attached hereto shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934 (the Exchange
Act), or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933, as amended, or the Exchange
Act, except as expressly set forth by specific reference in such
a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers;>Compensatory
Arrangements of Certain Officers.
On February 15, 2017, the Compensation Committee (the
“Committee”) of the Company’s Board of Directors approved an
annual bonus of $825,000 to Chip Perry, the Company’s Chief
Executive Officer, based on an evaluation of the Company’s
performance during 2016. Under his employment agreement with the
Company, Mr. Perry was eligible for a target annual bonus of
$800,000, a minimum annual bonus of $400,000 and a maximum annual
bonus of $1,600,000.
On the same date, the Committee also approved a discretionary
quarterly bonus of $80,000 to Michael Guthrie, the Company’s
Chief Financial Officer.
Item 9.01 >Financial Statements and Exhibits.
(d) Exhibits.
99.1 >Press release dated February 16, 2017.


About TrueCar, Inc. (NASDAQ:TRUE)

TrueCar, Inc. offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises. Its network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles. Its subsidiary, ALG, Inc., provides forecasts and consulting services regarding determination of the residual value of an automobile at given future points in time. It obtains automobile purchase data from various sources and uses this data to provide consumers and dealers with geographically specific, real-time pricing information.

TrueCar, Inc. (NASDAQ:TRUE) Recent Trading Information

TrueCar, Inc. (NASDAQ:TRUE) closed its last trading session down -0.09 at 13.25 with 2,153,445 shares trading hands.

An ad to help with our costs