Frontdoor Inc. filed SEC Form 8-K: Leadership Update, Regulation FD Disclosure
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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).
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 5, 2024, Frontdoor, Inc. (the “Company”) announced that the Board of Directors (the “Board”) of the Company appointed Evan Iverson, age 47, as the Company’s Senior Vice President and Chief Operating Officer effective as of August 1, 2024. Mr. Iverson had served as the Company’s Senior Vice President and Chief Operations Officer since January 2024, having joined the Company in January 2019 as Vice President Operations, and served from August 2023 to December 2023, as Senior Vice President of Contractor Engagement. From December 2015 to December 2018, Mr. Iverson served as Senior Product Manager in Global Fulfillment Services for Amazon.com, a multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. From September 2009 to December 2015, Mr. Iverson served as Associate Principal of McKinsey & Company, a global management consulting firm committed to helping organizations accelerate sustainable and inclusive growth. From 2001 to 2007, Mr. Iverson began his career as a salesperson at Trane, a manufacturer of commercial and residential heating, ventilation, and air conditioning systems, along with building management systems and controls. Mr. Iverson holds a Bachelor’s in Science degree in Chemical Engineering from Iowa State University, an M.B.A. from the University of Virginia Darden School of Business, and a Juris Doctor from the University of San Diego, School of Law.
In connection with his appointment as Senior Vice President and Chief Operating Officer, the Compensation Committee of the Board approved an increase to Mr. Iverson’s annual base salary from $475,000 to $550,000 and an increase to his target annual incentive bonus opportunity from 60% to 70% of his base salary, in each case, effective August 1, 2024. Mr. Iverson will remain eligible to participate in the Company’s long-term incentive, severance and other benefit plans available to our executive officers.
Item 7.01 Regulation FD Disclosure.
A press release announcing the appointment of Mr. Iverson as Senior Vice President and Chief Operating Officer, as described above, is attached as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description of Exhibit |
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99.1 |
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104 |
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The cover page from this Current Report on Form 8-K, formatted in Inline XBRL |
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.
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FRONTDOOR, INC. |
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Date: |
August 5, 2024 |
By: |
/s/ Jeffrey A. Fiarman |
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Name: Title: |
Jeffrey A. Fiarman |