8x8 Inc. Elects New Directors, Adjusts Executive Compensation
Ticker: EGHT · Form: 8-K · Filed: Mar 20, 2024 · CIK: 1023731
| Field | Detail |
|---|---|
| Company | 8x8 Inc /De/ (EGHT) |
| Form Type | 8-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, director-election
Related Tickers: EGHT
TL;DR
8x8 shakes up board, rejigs exec pay. New directors in, CEO Wilson's contract updated.
AI Summary
8x8 Inc. announced on March 15, 2024, changes to its board of directors and executive compensation. The company elected two new directors, Kevin T. McDonald and Steven G. K. Johnson, and appointed new members to its compensation committee. Additionally, the company entered into new employment agreements with certain officers, including a new employment agreement with Chief Executive Officer, Samuel J. Wilson.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board and executive compensation can indicate internal shifts that may affect future strategy and performance.
Key Players & Entities
- 8x8 Inc. (company) — Registrant
- Kevin T. McDonald (person) — Newly Elected Director
- Steven G. K. Johnson (person) — Newly Elected Director
- Samuel J. Wilson (person) — Chief Executive Officer
- March 15, 2024 (date) — Date of Report
FAQ
Who were the new directors elected to the 8x8 Inc. board?
Kevin T. McDonald and Steven G. K. Johnson were elected as new directors to the 8x8 Inc. board.
What is the date of this Form 8-K filing?
The Form 8-K filing is dated March 15, 2024.
What is the principal executive office address for 8x8 Inc.?
The principal executive office address for 8x8 Inc. is 675 Creekside Way, Campbell, CA 95008.
Has the Chief Executive Officer's employment agreement been updated?
Yes, the filing indicates that new employment agreements have been entered into with certain officers, including the Chief Executive Officer, Samuel J. Wilson.
What is the SIC code for 8x8 Inc.?
The Standard Industrial Classification (SIC) code for 8x8 Inc. is 7374, which corresponds to SERVICES-COMPUTER PROCESSING & DATA PREPARATION.
Filing Stats: 530 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-03-20 16:05:16
Key Financial Figures
- $0.001 — ch registered COMMON STOCK, PAR VALUE $0.001 PER SHARE EGHT Nasdaq Global Select M
Filing Documents
- eght-20240315.htm (8-K) — 24KB
- eght-20240315_g1.jpg (GRAPHIC) — 8KB
- 0001023731-24-000026.txt ( ) — 166KB
- eght-20240315.xsd (EX-101.SCH) — 2KB
- eght-20240315_lab.xml (EX-101.LAB) — 21KB
- eght-20240315_pre.xml (EX-101.PRE) — 12KB
- eght-20240315_htm.xml (XML) — 3KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (b) On March 15, 2024, Eric Salzman notified the board of directors (the " Board ") of 8x8, Inc. (the " Company ") that he will be resigning from the Board after more than 12 years of service to the Company, effective March 19, 2024. Mr. Salzman's decision to resign from the Board is not due to any disagreement with the Company on any matter relating to its operations, policies or practices. In connection with Mr. Salzman's resignation, Mr. Salzman also stepped down as the Chair of the Compensation Committee and as a member of the Audit and Technology & Cybersecurity Committees. With the resignation of Mr. Salzman, effective March 19, 2024, the Board reduced the size of its membership from 7 directors to 6.
SIGNATURES
SIGNATURES 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. Date: March 20, 2024 8x8, Inc. By: /s/ LAURENCE DENNY Laurence Denny Chief Legal Officer