Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) Appointment of Principal Accounting Officer.
On November 2, 2020, 8x8, Inc. (the "Company") issued a press release announcing
the appointment of Germaine Cota, the Company's Global Vice President,
Controller and Treasurer as the Company's Chief Accounting Officer. Ms. Cota was
appointed by the Company's Board on October 22, 2020 and will serve as the
Company's principal accounting officer until the earlier of her cessation of
employment or the Board's appointment of her successor.
Ms. Cota, age 39, joined the Company in January 2020 in her current role. Prior
to 8x8, Ms. Cota served as the U.S. CFO for Nikkei listed Mercari, Inc., a
peer-to-peer e-commerce platform, from August 2018 to December 2019. From April
2013 to August 2018, Ms. Cota held various accounting, accounting operations,
and financial reporting roles at LinkedIn Corporation, an online services
business with the world's largest professional network. Prior to LinkedIn, Ms.
Cota spent over nine years in assurance and advisory services at Ernst & Young,
LLP. Ms. Cota holds a bachelor of science degree in Accounting from Santa Clara
University and is a Certified Public Accountant in California.
There are no family relationships between Ms. Cota and any Company director or
executive officer, and no arrangements or understandings between Ms. Cota and
any other person pursuant to which she was selected as an officer.
Under the terms of Ms. Cota's employment with the Company, Ms. Cota is employed
on an "at will" basis. Ms. Cota's annual base salary is $300,000 and she has an
annual bonus target of 40% of her base salary. Ms. Cota is not entitled to any
payments from the Company in the event her employment by the Company terminates
as a result of death or disability. Ms. Cota is eligible to receive certain
benefits if her employment is terminated without cause by the Company within
three months before or twelve months after a change-in-control of the Company on
terms substantially similar to those set forth under the Company's Amended and
Restated 2017 Executive Change-in-Control and Severance Policy. In such an
event, Ms. Cota will be eligible to receive a one-time payment equivalent to six
months of her base salary, twelve months COBRA reimbursement for health
insurance and continued participation in the Company's group medical, dental,
life, disability and other group insurance plans to the extent available on
commercially reasonable terms, and full acceleration upon her termination date
of (i) all her time-based equity awards and (ii) her performance-based equity
awards to the extent the performance criteria for such awards was satisfied as
of the date of the Company's change-in-control.
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