BlackLine Names New Chief Legal Officer, CFO Departs
Ticker: BL · Form: 8-K · Filed: Jan 13, 2025 · CIK: 1666134
| Field | Detail |
|---|---|
| Company | Blackline, Inc. (BL) |
| Form Type | 8-K |
| Filed Date | Jan 13, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $80,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, legal, appointment, departure
TL;DR
BlackLine's CLO is out, new CLO in with $375k salary + equity. CFO departure also noted.
AI Summary
BlackLine, Inc. announced on January 9, 2025, the departure of Chief Legal Officer, Mark Blount, effective January 10, 2025. The company also announced the appointment of Kevin Shaffer as the new Chief Legal Officer, effective January 13, 2025. Shaffer will receive an annual base salary of $375,000 and will be eligible for equity awards.
Why It Matters
A change in key executive leadership, particularly the Chief Legal Officer, can signal shifts in company strategy or internal operations, impacting investor confidence and future legal compliance.
Risk Assessment
Risk Level: medium — Executive departures and appointments can introduce uncertainty regarding leadership stability and strategic direction.
Key Numbers
- $375,000 — Annual Base Salary (New Chief Legal Officer Kevin Shaffer's starting salary.)
Key Players & Entities
- BlackLine, Inc. (company) — Registrant
- Mark Blount (person) — Departing Chief Legal Officer
- January 10, 2025 (date) — Effective date of Mark Blount's departure
- Kevin Shaffer (person) — Appointed Chief Legal Officer
- January 13, 2025 (date) — Effective date of Kevin Shaffer's appointment
- $375,000 (dollar_amount) — Kevin Shaffer's annual base salary
FAQ
Who is the new Chief Legal Officer for BlackLine, Inc.?
Kevin Shaffer has been appointed as the new Chief Legal Officer for BlackLine, Inc., effective January 13, 2025.
When did Mark Blount's role as Chief Legal Officer at BlackLine, Inc. end?
Mark Blount's departure as Chief Legal Officer was effective January 10, 2025.
What is the annual base salary for the new Chief Legal Officer?
The new Chief Legal Officer, Kevin Shaffer, will receive an annual base salary of $375,000.
What is the effective date of the new Chief Legal Officer's appointment?
Kevin Shaffer's appointment as Chief Legal Officer is effective January 13, 2025.
Will the new Chief Legal Officer be eligible for equity awards?
Yes, Kevin Shaffer will be eligible for equity awards as part of his compensation.
Filing Stats: 719 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2025-01-13 09:00:31
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share BL NASDAQ Global Select Marke
- $80,000 — receive additional cash compensation of $80,000 in relocation benefits, with all such p
Filing Documents
- f8k_011225.htm (8-K) — 16KB
- exh_991.htm (EX-99.1) — 9KB
- 0001171843-25-000196.txt ( ) — 224KB
- gnw-20190101.xsd (EX-101.SCH) — 3KB
- gnw-20190101_def.xml (EX-101.DEF) — 25KB
- gnw-20190101_lab.xml (EX-101.LAB) — 33KB
- gnw-20190101_pre.xml (EX-101.PRE) — 22KB
- f8k_011225_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On January 13, 2025, BlackLine, Inc. (the "Company") announced preliminary financial results for the fourth quarter ending December 31, 2024. The information furnished pursuant to Item 2.02 on this Form 8-K, 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 into any other filing under the Securities Act of 1933 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 January 13, 2025, the Company announced that Mark Woodhams, Chief Revenue Officer of the Company, will retire from the Company, effective June 2, 2025. The Company also announced that Stuart Van Houten will join the Company as Chief Commercial Officer, effective February 17, 2025, leading the Company's global sales organization and revenue operations. At that time, he will assume Mr. Woodhams' role as head of the global sales team. Under the circumstances of his retirement and departure of the Company, Mr. Woodhams is entitled to severance benefits under the Company's Change in Control and Severance Policy (the "Severance Policy") upon his departure. In addition to the benefits under the Severance Policy, Mr. Woodhams will receive additional cash compensation of $80,000 in relocation benefits, with all such payments and benefits subject to execution of a release of claims in favor of the Company and other released parties, and complying with various post-employment obligations. The terms and conditions of the severance otherwise are consistent with the Severance Policy. Mr. Woodhams' current compensation arrangements will continue until his retirement date. A copy of the related p
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release issued by BlackLine dated January 13, 2025. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL) document. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLACKLINE, INC. Date: January 13, 2025 By: /s/ Karole Morgan-Prager Karole Morgan-Prager Chief Legal and Administrative Officer