Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 18, 2022, LendingTree, Inc. (the "Company") announced that J.D.
Moriarty will transition into the role of Chief Operating Officer, LendingTree,
and President, LendingTree Marketplace, on February 1, 2022, and that Neil
Salvage will be leaving the Company, as of January 31, 2022. This announcement
is more fully described in the press release attached as Exhibit 99.1 to this
Current Report on Form 8-K.
Biographical Information for J.D. Moriarty
Mr. Moriarty, age 49, will transition to his new role from his current role as
President, LendingTree Next, a position he has held since May 2021. From August
2017 to May 2021, Mr. Moriarty served as the Company's Chief Financial Officer,
and from June 2017 to August 2017, Mr. Moriarty served as the Company's Senior
Vice President for Corporate Development, responsible for strategic
acquisitions.
Separation Agreement with Neil Salvage
Mr. Salvage will be leaving his role as President, LendingTree Marketplace and
the Company, and his employment will be terminated without cause, as of January
31, 2022. In connection with Mr. Salvage's departure, he will receive the
payments and benefits under the Company's Executive Severance Pay Plan (the
"Plan"), subject to the terms and conditions of the Plan, including without
limitation his signing of an effective general release and waiver of claims (the
"Release") and compliance with the terms of the Release and his restrictive
covenant obligations owed to the Company. In addition, for his contributions to
the Company during 2021 and in light of the timing of his termination, Mr.
Salvage will receive a bonus of $292,500, subject to his signing a separation
agreement containing the Release.
Item 9.01. Exhibits.
Exhibit No. Description
99.1 Press Release
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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