Item 5.02 Departure of Directors or Certain Officers; Election of Directors?
Appointment of Certain Officers? Compensatory Arrangements of Certain Officers.
On December 30, 2021, the Board of Directors (the "Board") of Verra Mobility
Corporation (the "Company") appointed Sarah Farrell, effective December 30,
2021, as a Class III director to fill the vacancy created by the resignation of
Jacob Kotzubei on December 17, 2021.
Ms. Farrell, age 30, is currently a Partner at Inclusive Capital Partners, L.P.,
a San Francisco-based investment firm that seeks to partner with companies that
address and enable solutions to address environmental and societal problems. Ms.
Farrell is a former director at Lindblad Expeditions Holdings, Inc., where she
was a member of the Audit Committee from March 2020 through April 2021. Ms.
Farrell has also served as a board observer at Reddit, Inc. since February 2021
and a director of Kolmac Outpatient Recovery Centers, a private network of
intensive outpatient addiction treatment centers, since July 2021. Prior to
joining Inclusive Capital Partners at its inception in July 2020, Ms. Farrell
worked as an Associate at ValueAct Capital, a San Francisco-based investment
firm where she started in August of 2018. Ms. Farrell also worked in The
Blackstone Groups' Private Equity division from August 2016 through July 2018.
Prior to joining Blackstone, she worked in investment banking at J.P. Morgan in
the Mergers & Acquisitions group since May of 2014. Ms. Farrell holds a
bachelor's degree in Honors Chemistry from Harvard College. We believe that Ms.
Farrell's experience supporting environmental, social and governance initiatives
and her background in investment banking makes her well qualified to serve as a
member of the Company's Board.
Ms. Farrell's initial term will expire at the Company's 2024 annual meeting of
stockholders or her earlier resignation or removal. As of the date of this
Current Report on Form 8-K, neither Ms. Farrell nor any of her immediate family
members is a party, either directly or indirectly, to any transaction that would
be required to be reported under Rule 404(a) of Regulation S-K, nor is Ms.
Farrell party to any understanding or arrangement pursuant to which she was
appointed as a director.
Ms. Farrell will be compensated in accordance with the Company's standard
compensation policies and practices for the Board, the components of which were
disclosed in the Company's Proxy Statement filed with the Securities and
Exchange Commission on April 12, 2021.
Item 8.01 Other Events.
On January 3, 2022, the Company issued a press release announcing the
appointment of Sarah Farrell to the Board, which is filed herewith as Exhibit
99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit
Number Description of Exhibits
99.1 Press Release, dated January 3, 2022, issued by Verra Mobility
Corporation .
104 Cover page Interactive Data File (embedded within the Inline XBRL
document)
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