RE/MAX Holdings Announces CEO Departure, Appoints Interim

TL;DR

RE/MAX CEO Adam Contos out, James Young steps in as interim. Board shakeup too.

AI Summary

RE/MAX Holdings, Inc. announced on May 31, 2024, a series of executive and board changes. Effective immediately, Adam Contos has resigned as Chief Executive Officer and from the Board of Directors. James W. Young has been appointed Interim CEO, and the company has also elected new directors to its board.

Why It Matters

Significant leadership changes at a major real estate franchisor like RE/MAX can impact strategic direction, operational execution, and investor confidence.

Risk Assessment

Risk Level: medium — CEO departures and board changes can signal internal instability or strategic shifts, creating uncertainty for investors.

Key Players & Entities

• RE/MAX Holdings, Inc. (company) — Registrant
• Adam Contos (person) — Resigned CEO
• James W. Young (person) — Appointed Interim CEO

FAQ

Key Financial Figures

• $0.0001 — Which Registered Class A Common Stock $0.0001 par value per share RMAX New York S
• $391,230 — f of Staff and Chief Operating Officer ($391,230) One year of continued health benefit

Filing Documents

• tm2416227d1_8k.htm (8-K) — 30KB
• tm2416227d1_ex10-1.htm (EX-10.1) — 32KB
• tm2416227d1_ex10-1img001.jpg (GRAPHIC) — 15KB
• 0001104659-24-067787.txt ( ) — 260KB
• rmax-20240531.xsd (EX-101.SCH) — 3KB
• rmax-20240531_lab.xml (EX-101.LAB) — 33KB
• rmax-20240531_pre.xml (EX-101.PRE) — 22KB
• tm2416227d1_8k_htm.xml (XML) — 3KB

02 Departure of Directors or Certain

Item 5.02 Departure of Directors or Certain Officers Election of Directors Appointment of Certain Officers Compensatory Arrangement of Certain Officers. Effective June 3, 2024, Serene Smith, who served as Chief of Staff and Chief Operating Officer for RE/MAX Holdings, Inc. (the "Company") and the Company's principal operating officer, transitioned into a non-executive part-time role with the Company. The Company will no longer have a principal operating officer, as Ms. Smith's previous responsibilities in this role will be covered by certain of the Company's other executive officers (including Mr. Fuchs, as discussed in Item 7.01 below). In connection with her transition, the Company and Ms. Smith entered into a Letter Agreement, dated May 31, 2024 (the "Agreement") outlining the transition, her new role, and separation benefits Ms. Smith may be entitled to upon her departure from the Company. Ms. Smith is not receiving any separation payments or benefits at this time; rather she may be entitled to certain payments and benefits upon termination of her new role. If the Company terminates Ms. Smith from her new role without cause, or if Ms. Smith voluntarily resigns after serving in the new role for at least one year, she will be entitled to the following severance benefits: Salary continuation for one year at a rate equal to her prior salary as Chief of Staff and Chief Operating Officer ($391,230) One year of continued health benefits and outplacement services Accelerated vesting of any unvested time-based restricted stock units ("RSUs") Performance-based RSUs would vest as though her Continuous Service were terminated due to death or disability, except any Tranche(s) of the Award corresponding to any Performance Period(s) that have not begun as of the date of termination will continue to vest as though her Continuous Service had not terminated (as such terms are defined in the applicable RSU award agreements). In addition, as previously disclosed, Ms. S

01. Regulation FD Disclosure. *

Item 7.01. Regulation FD Disclosure. * On June 3, 2024, the Company announced that Rob Fuchs will join the Company as Executive Vice President, Human Resources and Administration, effective June 3, 2024.

01. Financial Statements and Exhibits. *

Item 9.01. Financial Statements and Exhibits. * Exhibit No. Description 10.1 Letter Agreement 104 Cover Page Interactive Data File (formatted as inline XBRL) *The information contained in Items 7.01 and 9.01 of this Current Report on Form 8-K is being "furnished" and shall not be deemed "filed" for purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filings of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be set forth by specific reference in such filing.

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. RE/MAX HOLDINGS, INC. Date: June 3, 2024 By: /s/ Karri Callahan Karri Callahan Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR