WageWorks, Inc. (NYSE:WAGE) 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.
Edward C. Nafus, a member of the Board of Directors (the “Board”) of WageWorks, Inc. (the “Company”), and a member of the Audit and Compensation Committees of the Board, informed the Board on March 8, 2017 that he has decided not to stand for reelection to the Board. Mr. Nafus’ departure is not the result of any disagreement with the Company regarding its operations, policies or practices.
Mr. Nafus will continue to serve as a director until his term ends at the Company’s 2017 annual meeting of stockholders. The size of the Board will be reduced to seven directors in connection with Mr. Nafus’ departure from the Board.
About WageWorks, Inc. (NYSE:WAGE)
WageWorks, Inc. is engaged in administering Consumer-Directed Benefits (CDBs). The Company administers CBDs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, Consolidated Omnibus Budget Reconciliation Act and other employee benefits. Its CDB programs assist employees and their families in saving money by using pre-tax dollars to pay for certain of their healthcare, dependent care and commuter expenses. Employers financially benefit from its programs through reduced payroll taxes. Under its FSA, HSA and commuter programs, employee participants contribute funds from their pre-tax income to pay for qualified out-of-pocket healthcare expenses not covered by insurance, such as co-pays, deductibles and over-the-counter medical products, or for commuting costs. WageWorks, Inc. (NYSE:WAGE) Recent Trading Information
WageWorks, Inc. (NYSE:WAGE) closed its last trading session up +0.25 at 76.95 with 175,875 shares trading hands.