Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 28, 2022, Ann M. Schwister notified Parts ID, Inc. (the "Company")
that she would be resigning as a director of the Company for personal reasons,
effective on the date thereof.
On September 28, 2022, the Board of Directors (the "Board") of the Company
appointed Lev Peker as a director and new member of the Board, effective on the
date thereof to replace Ms. Schwister as a Class I director. Upon joining the
Board, Mr. Peker will also serve as the Chair of the Board's Audit Committee.
Mr. Peker, age 40, is the Chief Executive Officer of CarLotz, Inc.
(NASDAQ:LOTZ), which operates a consignment-to-retail used vehicle marketplace
and provides its corporate vehicle sourcing partners and retail sellers of used
vehicles with the ability to easily access the retail sales channel. Prior to
joining CarLotz, Inc., Mr. Peker was the Chief Executive Officer of CarParts.com
(NASDAQ:PRTS) from January 2019 to April 2022, and before that Mr. Peker served
as the Chief Marketing Officer of Adorama from July 2015 to January 2019. Mr.
Peker also previously served as General Manager, Home Appliances and Tools at
Sears Holding Corporation from August 2014 to July 2015 and as Vice President,
Online Marketplaces and Manager, Financial Planning and Analysis at U.S. Auto
Parts from March 2009 to August 2014 and from March 2008 to March 2009,
respectively. Earlier in his career, Mr. Peker served as a Senior Financial
Analyst at Smart & Financial, Economic and Valuation Services Senior Analyst at
KPMG LLP and as a Transfer Pricing Senior Associate at PricewaterhouseCoopers
LLP. Mr. Peker earned a Bachelor of Science degree in accounting from the
University of Southern California, Marshall School of Business and an M.B.A.
from the University of California Los Angeles, The Anderson School of
Management. Mr. Peker is a Certified Public Accountant in the State of
California.
There are no arrangements or understandings between Mr. Peker and any other
persons pursuant to which he was chosen as a director of the Company. There are
no family relationships between Mr. Peker and any of the Company's directors,
executive officers, or persons nominated or chosen by the Company to become a
director or executive officer. Mr. Peker is not a party to any current or
proposed transaction with the Company for which disclosure is required under
Item 404(a) of Regulation S-K.
On September 28, 2022 (the "Grant Date'), Mr. Peker was granted $35,620 of
restricted stock units, based on the fair market value of the Company's Class A
common stock on the Grant Date. The restricted stock units will vest in full on
the earlier of one year after the date of grant or the date of the Company's
next annual meeting of stockholders, subject to Mr. Peker's continuous service.
When fully vested, the restricted stock units will be settled in shares of Class
A common stock of the Company on a one-for-one basis.
Item 8.01. Other Events.
On September 29, 2022, the Company issued a press release announcing the
appointment of Lev Peker as a director. The full text of the press release is
attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed as part of this report:
Exhibit No. Description
99.1 PARTS iD, Inc. News Release dated September 29, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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