LendingTree Appoints New CFO, Michael Poulos
Ticker: TREE · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1434621
| Field | Detail |
|---|---|
| Company | Lendingtree, Inc. (TREE) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $350,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: TREE
TL;DR
LendingTree names Michael Poulos new CFO, starting June 17th. He gets $450k base + bonus + $1M in stock.
AI Summary
On June 12, 2024, LendingTree, Inc. announced the appointment of Michael J. Poulos as Chief Financial Officer, effective June 17, 2024. Poulos will receive an annual base salary of $450,000 and will be eligible for a discretionary annual bonus. He will also receive a grant of restricted stock units valued at $1,000,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategy and performance.
Key Numbers
- $450,000 — CFO Base Salary (Annual compensation for Michael Poulos.)
- $1,000,000 — CFO Stock Grant (Value of restricted stock units awarded to Michael Poulos.)
Key Players & Entities
- LendingTree, Inc. (company) — Registrant
- Michael J. Poulos (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- $1,000,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- June 17, 2024 (date) — Effective date for new CFO
- June 12, 2024 (date) — Date of report
FAQ
Who has been appointed as the new Chief Financial Officer of LendingTree, Inc.?
Michael J. Poulos has been appointed as the new Chief Financial Officer of LendingTree, Inc.
When is Michael J. Poulos's appointment as CFO effective?
Michael J. Poulos's appointment as CFO is effective June 17, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Michael J. Poulos, is $450,000.
What is the value of the restricted stock units granted to Michael J. Poulos?
Michael J. Poulos will receive a grant of restricted stock units valued at $1,000,000.
What is the vesting schedule for the restricted stock units granted to the new CFO?
The restricted stock units granted to Michael J. Poulos will vest over three years.
Filing Stats: 868 words · 3 min read · ~3 pages · Grade level 11.4 · Accepted 2024-06-18 17:29:47
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share TREE The Nasdaq
- $350,000 — r. Bengel will receive a base salary of $350,000 per year and may be entitled to an annu
Filing Documents
- lendingtree_8k.htm (8-K) — 30KB
- lendingtree_ex9901.htm (EX-99.1) — 14KB
- image_001.jpg (GRAPHIC) — 5KB
- 0001683168-24-004334.txt ( ) — 226KB
- tree-20240612.xsd (EX-101.SCH) — 3KB
- tree-20240612_lab.xml (EX-101.LAB) — 33KB
- tree-20240612_pre.xml (EX-101.PRE) — 22KB
- lendingtree_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 12, 2024, Trent Ziegler informed LendingTree, Inc. (the "Company") of his intent to resign as Chief Financial Officer of the Company effective as of August 9, 2024. Mr. Ziegler's resignation was not the result of any disagreement with the Company, any matter related to the Company's operations, policies or practices, the Company's management or the board. On June 17, 2024, the board of directors of the Company appointed Jason Bengel, LendingTree, LLC's Senior Vice President, Financial Planning and Analysis as Chief Financial Officer of the Company effective as of August 9, 2024. Jason Bengel, 47, a Chartered Financial Analyst, has served as Senior Vice President, Financial Planning and Analysis of LendingTree, LLC since July 2021. From February 2018 until July 2021, he served as Vice President, Financial Planning and Analysis of LendingTree, LLC. Prior to joining LendingTree, LLC, Mr. Bengel served in various capacities including Vice President, Financial Planning and Analysis of Outbrain, a web recommendation platform; Vice President, Treasury and Corporate Development, Director, Corporate Development, and Manager, Financial Planning and Analysis of Revlon, a beauty company; Associate of Goldman Sachs, an investment banking, securities and investment management firm; and Senior Financial Analyst of Air Products, a company selling gases and chemicals for industrial use. Mr. Bengel also previously worked as a structural engineer. In addition, since August 2021, Mr. Bengel has served as a board member of Urban League of Central Carolinas, a nonprofit agency whose mission is to advocate for and equip underserved communities with the tools needed to achieve social and economic equality. In connection with the additional duties that Mr. Bengel will be responsible for during the transition period, effecti
01 Other Events
Item 8.01 Other Events. On June 18, 2024, the Company issued a press release with respect to the resignation of Trent Ziegler as Chief Financial Officer of the Company and appointment of Jason Bengel as Chief Financial Officer of the Company to be effective as of August 9, 2024. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01 Financial
Item 9.01 Financial (d) Exhibits. Exhibit No. Description 99.1 Press release dated June 18, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 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. Date: June 18, 2024 LENDINGTREE, INC. By: /s/ Heather Novitsky Heather Novitsky Corporate Secretary 3