Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective January 7, 2022 (the "Effective Date"), SmileDirectClub, Inc. (the
"Company") and Kyle Wailes determined that Mr. Wailes will step down from his
role as Chief Financial Officer of the Company. On December 7, 2021, the Company
announced that Mr. Wailes notified the Company of his intended departure in
order to pursue a role as CEO at a Nashville healthcare company. Mr. Wailes had
served as Chief Financial Officer of the Company since May 2018.
The Company has appointed its Chief Accounting Officer, Troy Crawford, 54, as
its interim Chief Financial Officer, effective January 8, 2022. Mr. Crawford has
served as the Company's Chief Accounting Officer since January of 2020. Prior to
that, he served as the Senior Vice President and Chief Accounting Officer of
GameStop beginning in June 2010, after serving as its Vice President, Controller
prior to that time. Mr. Crawford's compensation consists of an annual base
salary of $525,000, with a target bonus opportunity of 50% of his base salary
and an annual target equity award opportunity worth 75% of his base salary in
restricted stock units.
The Company is continuing its external search for its next Chief Financial
Officer and has engaged an executive search firm.
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