Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of David A. Buckel
On April 15, 2021, David A. Buckel informed SharpSpring, Inc.'s (the "Company")
Board of Directors (the "Board") that he would not stand for re-election to the
Board at the Company's 2021 Annual Meeting of Stockholders. Mr. Buckel's
decision to not stand for re-election is not a result of any disagreement
between himself and the Company, its management, the Board or any committee of
the Board. Mr. Buckel will continue to serve as a member of the Board until the
Company's 2021 Annual Meeting of Stockholders.
Appointment of Jason Costi
On April 20, 2021, the Board elected Jason Costi to serve as a member of the
Board. Mr. Costi's initial term as a member of the Board will continue until the
Company's 2021 Annual Meeting of Stockholders or until his successor is duly
appointed.
Mr. Costi is a finance and operations executive who brings a long track record
of building businesses as an on-the-ground operator and private equity investor.
Mr. Costi presently owns and operates Summit Incubators Inc., a consulting and
advisory firm where he has served as an interim Chief Financial Officer and
advisor for several disruptive growth companies across multiple industries,
including Consumer Products, Apparel, Connected Fitness, and Home Goods. He has
held this position since November 2018. Prior to this role, from March 2018 to
November 2018, Mr. Costi was the CFO of Bonobos, a men's apparel company and
subsidiary of Walmart Inc., where, in addition to his responsibilities at
Bonobos, Jason spent time focused on acquiring new e-commerce companies for
Walmart.com. From April 2015 to March 2018, Mr. Costi spent 3 years leading the
finance and strategy teams for Casper Sleep where he was responsible for that
company's global financial operations and corporate strategy, which included
accounting, financial planning and analysis, strategic initiatives, treasury,
tax and investor relations. In this role, Jason helped to build Casper from an
early stage company with $20 million of revenue to a global, omni-channel sleep
products company with nearly $400 million of revenue. Mr. Costi received a BBA
in Finance from Emory University, Goizuete Business School and an MBA from
Harvard Business School.
Mr. Costi has been named to serve on the Audit Committee and the Nominating and
Corporate Governance Committee of the Board. Mr. Costi will receive compensation
commensurate with other non-employee directors of the Company, which currently
includes an option grant of 16,000 options, vesting over four years, with 25%
vesting on the first anniversary of the grant date and an additional 1/48 of the
original number of options vesting each month and a quarterly stipend of
$11,250, with $7,500 and $3,750 payable in Company stock issued in arrears and
cash, respectively.
Item 8.01 Other Events.
Press Release
On April 21, 2021 the Company issued a press release announcing the election of
Jason Costi as a member of the Board. A copy of the press release is attached as
Exhibit 99.1 to this report and incorporated herein by reference.
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SHARPSPRING, INC. 
