Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 3, 2022, the board of directors (the "Board") of Hippo Holdings Inc.
(the "Company") appointed Richard McCathron as the Company's Chief Executive
Officer, to succeed Assaf Wand upon Mr. Wand's appointment as the Company's
Executive Chairman of the Board, each effective as of June 6, 2022 (the
"Effective Date"). Mr. McCathron has served as the Company's President since
2017. Prior to joining the Company, Mr. McCathron held senior executive
positions at various insurance companies including First Connect Insurance as
its President and Chief Executive Officer from October 2012 to February 2017,
Home Value Protection, Inc. as its Chief Revenue Officer from April 2011 to
March 2012, Superior Access Insurance Services as its President and Chief
Executive Officer from June 2007 to October 2010, and Mercury Insurance Group as
its Regional Vice President from April 2004 to June 2007. Mr. McCathron is both
a Chartered Property and Casualty Underwriter and a Certified Insurance
Counselor and sits on the board of directors of Spinnaker Insurance Company and
First Connect Insurance Services LLC. He is an advisor for several other
insurtech companies and holds a B.S. in Finance from Oregon State University.
The compensation of Mr. McCathron has not changed. In light of his role change,
Mr. Wand's annual salary was reduced from $600,000 to $250,000.
Item 7.01 - Regulation FD Disclosure
On June 6, 2022, the Company issued a press release announcing the appointment
of Mr. McCathron as Chief Executive Officer, and the appointment of Mr. Wand as
Executive Chairman of the Board. The full text of the press release is furnished
as Exhibit 99.1 to this Form 8-K and is incorporated by reference in this Item
7.01.
The information in this Item 7.01 of this Form 8-K and Exhibit 99.1 is being
furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed to be
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), or otherwise subject to the liabilities of that
section, nor shall it be deemed incorporated by reference in any filing made by
the Company under the Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit Number Exhibit Title or Description
99.1 Press Release dated June 6, 2022
104 Cover Page Interactive Data File (embedded within the Inline
XBRL document)
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