HUBS 8-K
Hubspot Inc (HUBS)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Resignation of Director
On August 14, 2023, Avanish Sahai informed the Board that he will resign from his position as a class II director of the Board of Directors (the “Board”) of HubSpot, Inc. (the “Company”), effective September 5, 2023. Mr. Sahai’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
(d) Election of Director
On August 15, 2023, the Board unanimously approved the appointment of Andrew Anagnost as a class II director of the Company to fill the vacancy created by Mr. Sahai’s resignation. The effective date of Mr. Anagnost’s appointment is September 5, 2023. The term of the Company’s class II directors, including Mr. Anagnost, expires on the date of the Company’s 2025 annual meeting of stockholders or upon the election and qualification of a successor director or until his earlier resignation, death or removal. Mr. Anagnost will serve on the compensation committee of the Board.
Mr. Anagnost’s compensation will be consistent with that provided to all of the Company’s non-employee directors pursuant to the Company’s Non-Employee Director Compensation Policy, which was filed as Exhibit 10.13 to the Company’s Form 10-K for the year ended December 31, 2021. In addition, the Company will enter into an indemnification agreement with Mr. Anagnost in connection with his appointment to the Board, which is in substantially the same form as that entered into with the other directors of the Company.
There is no arrangement or understanding pursuant to which Mr. Anagnost was appointed to the Board. There are no family relationships between Mr. Anagnost and any director or executive officer of the Company, and Mr. Anagnost has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure
On August 17, 2023, the Company issued a press release announcing Mr. Sahai’s resignation from the Board and Mr. Anagnost’s appointment to the Board as discussed in Items 5.02(b) and 5.02(d), respectively, of this Current Report on Form 8-K. The full text of this press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference to such filing.
Item 9.01 Financial Statements and Exhibits.
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Exhibit |
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Description |
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Press Release dated August 17, 2023 |
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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 thereunto duly authorized.
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HubSpot, Inc. |
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August 17, 2023 |
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By: |
/s/ Alyssa Harvey Dawson |
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Name: Alyssa Harvey Dawson |
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Title: Chief Legal Officer |
Exhibit 99.1
HubSpot Announces Andrew Anagnost Joins Board of Directors
CAMBRIDGE, MA – August 17, 2023 – HubSpot, a leading customer relationship management (CRM) platform, announced today that Andrew Anagnost, President and CEO at Autodesk, will join the company’s Board of Directors, effective September 5. Anagnost brings more than 25 years of product, business, and marketing experience focused on driving strategy, transformation, and product development.
Anagnost joins as Avanish Sahai transitions from the board, also effective September 5. Sahai joined HubSpot’s Board in 2018 and his deep expertise on platforms and partnerships has made a great impact on the growth of HubSpot’s customer platform.
“I want to thank Avanish for his support and guidance over the past five years and wish him luck on his next exciting chapter pursuing educational opportunities. He’s been an incredible partner who was instrumental in helping HubSpot move from an applications company to a platform company. While I’m sad to see Avanish go, I’m delighted to welcome Andrew to our board,” said Brian Halligan, HubSpot’s co-founder and Executive Chairperson. “As a current CEO with a long history of delivering value to customers, Andrew has an impressive track record for scaling high-growth companies. I think he’ll prove to be an amazing partner for HubSpot as we continue to innovate with new AI capabilities and power scaling companies to connect more deeply with their customers.”
“HubSpot is an innovative company and their platform serves an important market need for businesses around the world to better connect with their customers,” said Anagnost. “I’m really looking forward to working with the HubSpot team and my fellow board members to help the company grow and meet their mission.”
Prior to becoming President and CEO of Autodesk in June 2017, Anagnost served as Chief Marketing Officer and SVP of the Business Strategy & Marketing organization. In this role, he served as architect and leader of Autodesk’s business model transition—moving the company to become a software-as-a-service (SaaS) solutions provider. Early in his Autodesk career, Anagnost led the development of the company’s manufacturing products and grew Autodesk Inventor revenue to over $500 million.
“When joining the board five years ago, I was drawn to HubSpot’s focus on solving a critical gap for small and medium-sized businesses, and I’m proud of the milestones that HubSpot has achieved to help companies grow better,” said Sahai. “It’s been a pleasure working with HubSpot and my fellow board members, and I’m confident that Andrew and the rest of the team will do a great job supporting HubSpot in this exciting chapter.”
To learn more about HubSpot’s Board of Directors, please visit https://www.hubspot.com/company/board-of-directors.
Exhibit 99.1
About HubSpot
HubSpot (NYSE: HUBS) is a leading customer relationship management (CRM) platform that provides software and support to help companies grow better. The platform includes marketing, sales, service, operations, and website management products that start free and scale to meet our customers’ needs at any stage of growth. Today, more than 184,000 customers across more than 120 countries use HubSpot’s powerful and easy-to-use tools and integrations to attract, engage, and delight customers.
Named Glassdoor’s #2 Best Place to Work in 2022, HubSpot has been recognized for its award-winning culture by Great Place to Work, Comparably, Fortune, Entrepreneur, Inc., and more. HubSpot was founded in 2006 and is headquartered in Cambridge, Massachusetts. The company’s thousands of employees work across the globe in HubSpot offices and remotely.
Learn more at www.hubspot.com.
Press Contact
Alexa Becker