Bright Horizons Adds Schwarzman, Rubenstein to Board

Ticker: BFAM · Form: 8-K · Filed: 2025-03-27T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, executive-compensation, ceo-appointment

TL;DR

BHZ adds Blackstone's Schwarzman & Carlyle's Rubenstein to board, Kramer gets new CEO deal.

AI Summary

Bright Horizons Family Solutions Inc. announced on March 26, 2025, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Stephen A. Schwarzman and David M. Rubenstein, effective March 26, 2025. Additionally, the company entered into a new employment agreement with its CEO, Stephen J. Kramer, effective March 26, 2025, which includes a base salary of $750,000 and potential performance-based bonuses.

Why It Matters

The appointment of prominent figures like Stephen A. Schwarzman and David M. Rubenstein to the board could signal strategic shifts or enhanced governance for Bright Horizons.

Risk Assessment

Risk Level: medium — The appointment of high-profile individuals and a new CEO employment agreement introduces potential changes in strategy and leadership that could impact the company's future performance.

Key Numbers

Key Players & Entities

FAQ

Who are the newly elected directors and what are their affiliations?

Stephen A. Schwarzman and David M. Rubenstein were elected as directors. Stephen A. Schwarzman is the Chairman and CEO of Blackstone, and David M. Rubenstein is the Co-founder and Co-Chairman of The Carlyle Group.

What is the effective date of the director changes and the new CEO employment agreement?

All changes, including the election of new directors and the new employment agreement for the CEO, are effective as of March 26, 2025.

What is the base salary for CEO Stephen J. Kramer under his new agreement?

The new employment agreement for CEO Stephen J. Kramer sets his base salary at $750,000 per year.

Are there any other components to the CEO's compensation package?

Yes, in addition to his base salary, Stephen J. Kramer is eligible for performance-based bonuses and equity awards as outlined in the employment agreement.

What is the company's primary business as indicated by its SIC code?

Bright Horizons Family Solutions Inc. is in the 'SERVICES-CHILD DAY CARE SERVICES' industry, with SIC code 8351.

From the Filing

0001193125-25-065602.txt : 20250327 0001193125-25-065602.hdr.sgml : 20250327 20250327170150 ACCESSION NUMBER: 0001193125-25-065602 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20250326 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250327 DATE AS OF CHANGE: 20250327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRIGHT HORIZONS FAMILY SOLUTIONS INC. CENTRAL INDEX KEY: 0001437578 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-CHILD DAY CARE SERVICES [8351] ORGANIZATION NAME: 07 Trade & Services EIN: 800188269 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35780 FILM NUMBER: 25780311 BUSINESS ADDRESS: STREET 1: 2 WELLS AVENUE CITY: NEWTON STATE: MA ZIP: 02459 BUSINESS PHONE: 617-673-8000 MAIL ADDRESS: STREET 1: 2 WELLS AVENUE CITY: NEWTON STATE: MA ZIP: 02459 FORMER COMPANY: FORMER CONFORMED NAME: BRIGHT HORIZONS SOLUTIONS CORP DATE OF NAME CHANGE: 20080612 8-K 1 d872132d8k.htm 8-K 8-K false 0001437578 0001437578 2025-03-26 2025-03-26     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): March 26, 2025       BRIGHT HORIZONS FAMILY SOLUTIONS INC. (Exact name of registrant as specified in its charter)       Delaware   001-35780   80-0188269 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification Number)   2 Wells Avenue   Newton , Massachusetts   02459 (Address of principal executive offices)   (Zip code) Registrant’s telephone number, including area code: (617) 673-8000 Not Applicable (Former name or former address, if changed since last report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):     ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)     ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)     ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))     ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.001 par value per share   BFAM   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On March 26, 2025, Cathy E. Minehan, a member of the Bright Horizons Family Solutions Inc. (the “Company”) Board of Directors (the “Board”), informed the Board of her intent to retire from the Board, effective June 3, 2025. Ms. Minehan currently serves

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