Thryv Holdings Appoints New CFO, Paul Chaney
Ticker: THRY · Form: 8-K · Filed: Mar 13, 2024 · CIK: 1556739
| Field | Detail |
|---|---|
| Company | Thryv Holdings, Inc. (THRY) |
| Form Type | 8-K |
| Filed Date | Mar 13, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $1,083,750 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: THRY
TL;DR
Thryv Holdings names Paul Chaney new CFO, starting March 11th. Expect new stock grants and bonus potential.
AI Summary
Thryv Holdings, Inc. announced on March 8, 2024, the appointment of Paul J. Chaney as Chief Financial Officer, effective March 11, 2024. He will receive an annual base salary of $375,000 and a target annual bonus of 75% of his base salary. Additionally, Chaney will be granted 150,000 restricted stock units, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — CFO Base Salary (Annual compensation for Paul J. Chaney)
- 75% — CFO Target Bonus (Potential bonus as a percentage of base salary)
- 150,000 — RSUs Granted (Restricted stock units awarded to the new CFO)
Key Players & Entities
- Thryv Holdings, Inc. (company) — Registrant
- Paul J. Chaney (person) — Appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- 75% (dollar_amount) — Target annual bonus percentage for new CFO
- 150,000 (dollar_amount) — Restricted stock units granted to new CFO
- March 8, 2024 (date) — Date of report
- March 11, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Thryv Holdings, Inc.?
Paul J. Chaney has been appointed as the new Chief Financial Officer of Thryv Holdings, Inc.
When is Paul J. Chaney's appointment as CFO effective?
Paul J. Chaney's appointment as CFO is effective March 11, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Paul J. Chaney, is $375,000.
How many restricted stock units will be granted to the new CFO?
150,000 restricted stock units will be granted to the new CFO, Paul J. Chaney.
What is the vesting schedule for the restricted stock units granted to the new CFO?
The 150,000 restricted stock units granted to Paul J. Chaney will vest over three years.
Filing Stats: 691 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-03-13 16:00:48
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value THRY Nasdaq Capital Marke
- $1,083,750 — h is comprised of (a) cash severance of $1,083,750, which is equal to 78 weeks of severanc
Filing Documents
- ef20024006_8k.htm (8-K) — 31KB
- ef20024006_ex10-1.htm (EX-10.1) — 168KB
- 0001140361-24-013001.txt ( ) — 367KB
- thry-20240308.xsd (EX-101.SCH) — 4KB
- thry-20240308_lab.xml (EX-101.LAB) — 21KB
- thry-20240308_pre.xml (EX-101.PRE) — 16KB
- ef20024006_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 8, 2024, Thryv Holdings, Inc. (the "Company") and Gordon Henry, Chief Strategy Officer and executive vice president of the Company, mutually agreed that Mr. Henry would leave the Company effective March 22, 2024 . . In connection with his separation, the Company and Mr. Henry entered into a separation agreement and release (the "Separation Agreement") attached hereto as Exhibit 10.1, pursuant to which Mr. Henry will receive the severance payments and benefits otherwise payable to him under the Company's Executive Vice President Severance Program, which is comprised of (a) cash severance of $1,083,750, which is equal to 78 weeks of severance pay based on his current weekly salary plus one and a half times his short-term incentive bonus at target, (b) payment of a prorated annual short-term incentive bonus for the current fiscal year, based on actual company performance, (c) basic life insurance coverage paid by the Company for 18 months, and (d) outplacement benefits for up to one year. The Separation Agreement contains confidentiality, non-disparagement, and both employee and customer non-solicitation covenants, as well as other customary terms and conditions, including a release by Mr. Henry of any claims against the Company. Mr. Henry's departure will constitute a "Termination without Cause" under the terms of the outstanding restricted stock units and performance stock units granted to Mr. Henry under the Company's 2020 Incentive Award Plan, which will entitle Mr. Henry to a prorated portion of the unvested restricted stock units that would otherwise have vested on the next applicable vesting date, and a prorated portion of the unvested performance stock units will remain eligible to vest based on actual company performance.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits . The following exhibits are filed with this document: Exhibit Number Description 10.1 Separation Agreement and Release, dated as of March 13, 2024, between the Company and Gordon Henry. 104 Cover Page Interactive Data File (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. THRYV HOLDINGS, INC. Date: March 13, 2024 By: /s/ Paul D. Rouse Name: Paul D. Rouse Title: Chief Financial Officer, Executive Vice President and Treasurer