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MarketScreener Homepage  >  Equities  >  Nasdaq  >  GreenSky, Inc.    GSKY

GREENSKY, INC.

(GSKY)
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GREENSKY, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

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09/08/2020 | 08:34am EDT
Item 5.02         Departure of Directors or Certain Officers; Election of Directors;
                  Appointment of Certain Officers; Compensatory Arrangements of Certain
                  Officers.


On September 8, 2020, GreenSky, Inc. (the "Company") announced the appointment of Andrew Kang as the Company's Executive Vice President and Chief Financial Officer, effective September 14, 2020. The Company's Board of Directors appointed Mr. Kang to such position on August 3, 2020.

From April 2018 to September 2020, Mr. Kang, age 44, served as Corporate Treasurer of Santander Holdings USA, the U.S. bank holding company of Banco Santander S.A. From September 2015 to September 2020, he also served as Executive Vice President of Santander Consumer USA, a full spectrum auto finance company. Mr. Kang was responsible for all funding, liquidity and bank relationships and oversaw over $50 billion in securitizations, private credit facilities and asset sales. He also was responsible for the company's asset and liability management, capital management, strategic planning and investor relations. Mr. Kang received a Bachelor of Arts in Biology and post-baccalaureate certification in Accounting, both from the University of Virginia.

In connection with Mr. Kang's appointment as Executive Vice President and Chief Financial Officer, the Company agreed to pay him a base salary of $650,000, plus an annual discretionary cash bonus with a target of 50% of his base salary. In addition, Mr. Kang is eligible to receive equity awards at a targeted annual value of $650,000, vesting ratably on the first four anniversaries of the grant date. Within 30 days of the start of his employment, the Company will grant Mr. Kang 200,000 shares of restricted Class A common stock, which will vest ratably on the first four anniversaries of September 14, 2020. On or before February 28, 2021, the Company will pay Mr. Kang a $220,000 cash sign-on bonus. The terms of Mr. Kang's compensation arrangements are subject to certain customary requirements and other terms.

On September 8, 2020, the Company issued a press release announcing the appointment of Mr. Kang as Executive Vice President and Chief Financial Officer. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

On September 14, 2020, Robert Partlow will transition from the Company's Executive Vice President and Chief Financial Officer to the newly created role of Executive Vice President of Capital Markets.

Item 9.01 Financial Statements and Exhibits.


(d) Exhibits

Exhibit No.         Description
  99.1              Press release, dated September 8, 2020
104                 Cover Page Interactive Data File (embedded within the Inline XBRL document)




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© Edgar Online, source Glimpses


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