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PURE STORAGE, INC.

(PSTG)
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PURE STORAGE, INC. : Change in Directors or Principal Officers (form 8-K)

09/14/2021 | 04:15pm EDT

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 13, 2021, the Board of Directors of Pure Storage, Inc. ("Pure") increased the size of its board to 11 members and appointed Mallun Yen to fill this vacancy and to serve as a member of Pure's Nominating and Corporate Governance Committee, effective immediately. Ms. Yen was appointed as a Class III director to serve until Pure's annual meeting of stockholders to be held in 2024.

In accordance with Pure's director compensation policy, Ms. Yen was granted a restricted stock unit award for 27,185 shares of Pure's Class A common stock. Subject to Ms. Yen's continued service, 25% of the shares subject to the award will vest on September 20, 2022 and the remaining 75% of the shares subject to the award will vest in 12 substantially equal quarterly installments thereafter. Ms. Yen was also granted a restricted stock unit award for 7,986 shares of Pure's Class A common stock, which represents a pro-rata amount of the annual equity compensation provided to our directors. The award will vest in full on the day prior to Pure's upcoming annual stockholder meeting, subject to Ms. Yen's continued service. These equity awards are subject to the terms and conditions of Pure's 2015 Equity Incentive Plan and the related award agreements. Further, Ms. Yen is entitled to an annual cash retainer for her service in accordance with Pure's director compensation policy.

In connection with her appointment to the Board, Ms. Yen executed Pure's standard form of indemnity agreement for directors which was filed as Exhibit 10.8 of Pure's Annual Report on Form 10-K (File No. 001-37570) filed with the Securities and Exchange Commission on March 25, 2021.

There is no arrangement or understanding between Ms. Yen and any other person pursuant to which Ms. Yen was elected as a director of Pure. There are no family relationship between Ms. Yen and any director or executive officer of Pure, and, other than as described above, no transaction involving Ms. Yen that would require disclosure under Item 404(a) of Regulation S-K.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2022 2 043 M - -
Net income 2022 -196 M - -
Net cash 2022 564 M - -
P/E ratio 2022 -36,6x
Yield 2022 -
Capitalization 7 440 M 7 440 M -
EV / Sales 2022 3,37x
EV / Sales 2023 2,82x
Nbr of Employees 3 900
Free-Float 93,9%
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Mean consensus BUY
Number of Analysts 20
Last Close Price 26,10 $
Average target price 31,00 $
Spread / Average Target 18,8%
EPS Revisions
Managers and Directors
Charles H. Giancarlo Chairman & Chief Executive Officer
Kevan Krysler Chief Financial Officer
John Colgrove Director & Chief Technology Officer
Cathleen Southwick Chief Information Officer
Michael Fitzgerald Vice President-Operations
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