8-K
Open Text Corp (OTEX)
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________
FORM 8-K
______________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 6, 2023
______________________
Open Text Corporation
(Exact name of Registrant as specified in its charter)
______________________
| Canada | 0-27544 | 98-0154400 |
|---|---|---|
| (State or Other Jurisdiction<br>of Incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
275 Frank Tompa Drive, Waterloo, Ontario, Canada N2L 0A1
(Address of principal executive offices)
(519) 888-7111
(Registrant's telephone number, including area code)
______________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common stock without par value | OTEX | NASDAQ Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
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. |
|---|
On December 6, 2023, the Board of Directors (the “Board”) of Open Text Corporation (“OpenText”) appointed Goldy Hyder as a director, effective immediately. Mr. Hyder is President and Chief Executive Officer of the Business Council of Canada, a non-profit, non-partisan organization composed of the chief executives and entrepreneurs of Canada’s leading companies, whose members collectively employ approximately two million Canadians in every major industry.
Mr. Hyder was previously President and Chief Executive Officer of Hill+Knowlton Strategies (Canada), providing strategic communications counsel to the firm’s extensive and diverse client base. Prior to joining Hill+Knowlton, he served as Director of Policy and Chief of Staff to The Right Honourable Joe Clark, former Prime Minister of Canada. Mr. Hyder holds a B.A. and Masters degree in Public Policy from the University of Calgary.
Mr. Hyder will participate in OpenText’s Director’s Deferred Share Unit Plan (the “DSU Plan”), whereby any non-management director of OpenText may elect to defer all or part of his or her retainer and/or fees in the form of common shares. A copy of the DSU Plan is filed as Exhibit 10.4 to OpenText’s Annual Report on Form 10-K for the year ended June 30, 2023, filed with the Securities and Exchange Commission on August 3, 2023. In addition, Mr. Hyder will receive compensation for his service on the Board consistent with OpenText’s standard compensation practice for non-employee directors.
On December 6, 2023, OpenText issued a press release announcing the appointment of Mr. Hyder to the Board, a copy of which is filed herewith as Exhibit 99.1.
| Item 8.01. | Other Events. |
|---|
Incorporated by reference is a press release issued by OpenText on December 6, 2023, which is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Press Release dated December 6, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| OPEN TEXT CORPORATION | ||
|---|---|---|
| December 6, 2023 | By: | /s/ Michael F. Acedo |
| Michael F. Acedo<br><br>Executive Vice-President, Chief Legal Officer & Corporate Secretary |
Document
Exhibit 99.1
OpenText Appoints Goldy Hyder to Board of Directors
Waterloo, ON, December 6, 2023 - Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), today announced the appointment of Goldy Hyder to its board of directors. Mr. Hyder is President and Chief Executive Officer of the Business Council of Canada, a non-profit, non-partisan organization composed of the chief executives and entrepreneurs of Canada’s leading companies, whose members collectively employ approximately two million Canadians in every major industry.
“Goldy brings very strong public and international policy perspectives to our Board,” said Tom Jenkins, Chair of the Board of Directors. “His role as co-chair of Canada’s World Trade Organization Business Advisory Council has created global and diverse experiences that are strategic assets further strengthening our Board.”
Mr. Hyder was previously President and Chief Executive Officer of Hill+Knowlton Strategies (Canada), providing strategic communications counsel to the firm’s extensive and diverse client base. Prior to joining Hill+Knowlton, he served as Director of Policy and Chief of Staff to The Right Honourable Joe Clark, former Prime Minister of Canada.
In addition to his achievements in business and public policy, Mr. Hyder has a long track record of service on behalf of several charities and non-profit organizations. He is a member of the advisory councils of the Canada-India Business Council and Coalition for a Better Future, a board member of the Business + Higher Education Roundtable, an executive committee member of the Century Initiative and co-chair of Canada’s World Trade Organization Business Advisory Council. He is Past Chair of the Asia Business Leaders Advisory Council, a subsidiary of Asia Pacific Foundation. Mr. Hyder holds a B.A. and Masters degree in Public Policy from the University of Calgary.
About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com.
For more information, contact:
Harry E. Blount
Senior Vice President, Global Head of Investor Relations
Open Text Corporation
415-963-0825
investors@opentext.com
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