Albertsons Companies, Inc 8-K, filed Sep 9, 2020
Albertsons Companies, Inc. (ACI)
About this 8-K
Albertsons Companies, Inc filed this 8-K on September 9, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain officers. |
On September 9, 2020, the Board of Directors (the “Board”) of Albertsons Companies, Inc. (the “Company”) appointed Shant Babikian to the Board, effective immediately, with a term that expires at the Company’s 2021 annual meeting of stockholders or until his successor is duly elected and qualified. Mr. Babikian is expected to enter into an indemnification agreement with the Company, on substantially the same terms contained in the Company’s standard form previously filed with the SEC, which provides for indemnification of the indemnitee to the fullest extent permitted by Delaware law.
Mr. Babikian is a Managing Director at HPS Investment Partners, LLC (“HPS”). Prior to joining HPS in 2014, Mr. Babikian was a Vice President at Oaktree Capital Management (“Oaktree”), where he focused on investing in privately structured debt and equity transactions. Prior to joining Oaktree, Mr. Babikian was an Analyst in JPMorgan’s Syndicated and Leveraged Finance Group. Mr. Babikian also serves on the boards of a number of privately held companies. Mr. Babikian holds a BBA with Honors from the CUNY Macaulay Honors Collage at Baruch with a concentration in Economics.
Affiliates of HPS hold 584,000 shares of Series A Convertible Preferred Stock of the Company, acquired pursuant to the Amended and Restated Investment Agreement by and among the Company and the investors party thereto, dated as of June 9, 2020 (the “Investment Agreement”). Mr. Babikian was appointed to the Board pursuant to HPS’ director designation right pursuant to and as set forth in Section 5.11 of the Investment Agreement. Mr. Babikian is not party to any transaction with the Company that would require disclosure under Item 404(a) of the Securities and Exchange Commission’s Regulation S-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Albertsons Companies, Inc. (Registrant) | ||||||
| Dated: September 9, 2020 | By: | /s/ Juliette W. Pryor | ||||
| Name: | Juliette W. Pryor | |||||
| Title: | Executive Vice President, General Counsel and Secretary | |||||