Expedia Files 8-K on Financials, Officer Changes
Ticker: EXPE · Form: 8-K · Filed: Feb 8, 2024 · CIK: 1324424
Complexity: simple
Sentiment: neutral
Topics: financial-condition, officer-changes, 8-K, corporate-governance
TL;DR
**Expedia just dropped an 8-K with financial results and officer updates, so keep an eye on EXPE.**
AI Summary
Expedia Group, Inc. filed an 8-K on February 8, 2024, reporting on events that occurred on February 7, 2024. This filing covers their results of operations and financial condition, as well as information regarding the departure or appointment of certain officers and their compensatory arrangements. This matters to investors because it provides crucial, timely updates on the company's financial health and leadership changes, which can directly influence stock performance and future strategic direction.
Why It Matters
This filing provides investors with immediate insight into Expedia's recent financial performance and any significant changes in its executive leadership, both of which are key drivers of stock valuation.
Risk Assessment
Risk Level: medium — The filing indicates significant events like financial results and potential officer changes, which can introduce volatility and uncertainty for investors.
Analyst Insight
A smart investor would review the full details of the financial results and any executive changes once they become available, as these are critical for assessing the company's current health and future direction.
Key Players & Entities
- Expedia Group, Inc. (company) — the registrant filing the 8-K
- February 7, 2024 (date) — date of earliest event reported in the 8-K
- February 8, 2024 (date) — date the 8-K was filed
- EXPE (company) — trading symbol for Expedia Group, Inc.
- Nasdaq Stock Market LLC (company) — exchange where Expedia's common stock is registered
FAQ
What is the purpose of this 8-K filing by Expedia Group, Inc.?
This 8-K filing by Expedia Group, Inc. serves to report on significant events that occurred on February 7, 2024, specifically regarding 'Results of Operations and Financial Condition' and 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', as well as 'Regulation FD Disclosure' and 'Financial Statements and Exhibits'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 7, 2024, as stated under 'DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): February 7, 2024'.
What is the trading symbol and exchange for Expedia Group, Inc.'s common stock?
Expedia Group, Inc.'s common stock has the trading symbol EXPE and is registered on the Nasdaq Stock Market LLC (Nasdaq Global Select Market).
What is the address of Expedia Group, Inc.'s principal executive offices?
The address of Expedia Group, Inc.'s principal executive offices is 1111 Expedia Group Way W., Seattle, Washington 98119.
Is Expedia Group, Inc. considered an emerging growth company according to this filing?
The filing includes a checkbox 'Indicate by check mark whether the registrant is an emerging growth company as defin', but the box is not checked, implying that Expedia Group, Inc. does not consider itself an emerging growth company.
Filing Stats: 1,784 words · 7 min read · ~6 pages · Grade level 11 · Accepted 2024-02-08 16:02:19
Key Financial Figures
- $0.0001 — nge on which registered Common stock, $0.0001 par value EXPE Nasdaq Stock Market LL
- $1,250,000, b — n will receive an annual base salary of $1,250,000, beginning on the Transition Date. Ms. Gor
- $100,000 — eceive a one-time relocation payment of $100,000 and will be entitled to receive a month
- $32,000 — receive a monthly housing allowance of $32,000 per month, for a period of up to 18 mon
- $11,875,000 b — al to the quotient obtained by dividing $11,875,000 by the average of the closing prices of t
Filing Documents
- expe-20240207.htm (8-K) — 46KB
- employmentagreementbetween.htm (EX-10.1) — 110KB
- earningsrelease-q42023.htm (EX-99.1) — 651KB
- pressreleasedatedfebruary8.htm (EX-99.2) — 12KB
- expediagroup3.jpg (GRAPHIC) — 37KB
- 0001324424-24-000005.txt ( ) — 1085KB
- expe-20240207.xsd (EX-101.SCH) — 2KB
- expe-20240207_def.xml (EX-101.DEF) — 14KB
- expe-20240207_lab.xml (EX-101.LAB) — 27KB
- expe-20240207_pre.xml (EX-101.PRE) — 15KB
- expe-20240207_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On February 8, 2024, Expedia Group, Inc. (" Expedia Group ") issued an earnings release and will hold a conference call regarding its financial results for the quarter and year ended December 31, 2023. A copy of the earnings release is furnished as Exhibit 99.1 hereto. Expedia Group is making reference to non-GAAP financial measures in both the earnings release and the conference call. A reconciliation of these non-GAAP financial measures to the nearest comparable GAAP financial measures is contained in the attached Exhibit 99.1 earnings release. Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 8, 2024, Expedia Group announced the appointment of Ariane Gorin, President of Expedia for Business, to serve as the Company's Chief Executive Officer, succeeding Peter Kern. The appointment will be effective as of May 13, 2024 (the " Transition Date "), after which Mr. Kern will continue to serve as the Company's Vice Chairman and as a member of the Company's Board of Directors (the " Board "). The Company also announced that the Board had approved the expansion of its size from 12 to 13 members and the election of Ms. Gorin to fill the newly-created directorship, each effective as of February 12, 2024, and that the Board had designated Ms. Gorin to serve as a member of the Executive Committee of the Board, replacing Mr. Kern, effective as of the Transition Date. Ms. Gorin has held executive leadership roles at Expedia Group for over 10 years, most recently serving as President of Expedia for Business since 2021. In this role, Ms. Gorin led Expedia Group's global B2B business covering an ecosystem of travel suppliers, organizations that advertise on the Expedia Group platform, and partners that are powered by Expedia Group technology. Prior to 2021, she had served as President of Expedia Busine
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. A copy of the press release announcing Ms. Gorin's appointment is furnished as Exhibit 99.2 hereto. Pursuant to General Instruction B.2. to Form 8-K, the information set forth in Items 2.02 and 7.01 above, and in the accompanying Exhibits 99.1 and 99.2, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Employment Agreement between Ariane Gorin and Expedia, Inc., effective February 7, 2024 99.1 Earnings Release of Expedia Group, Inc., dated February 8, 2024 99.2 Press Release, dated February 8, 2024, Announcing CEO Appointment 104 Cover Page Interactive Data File, formatted in Inline XBRL 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. EXPEDIA GROUP, INC. By: /s/ Robert Dzielak Robert Dzielak Chief Legal Officer Dated: February 8, 2024