United Parks & Resorts Inc 8-K, filed Dec 10, 2020
United Parks & Resorts Inc. (PRKS)
About this 8-K
United Parks & Resorts Inc filed this 8-K on December 10, 2020, reporting on events of December 9, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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).
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Item 5.02 Election of Directors
On December 10, 2020, SeaWorld Entertainment, Inc. (the “Company”) announced that the Board of Directors of the Company (the “Board”) increased the size of the Board from eight to ten directors and elected Timothy J. Hartnett and Kimberly K. Schaefer to serve as directors of the Company. Mr. Hartnett and Ms. Schaefer will assume their director roles effective December 9, 2020 (the “Effective Date”).
Mr. Hartnett, 54, has served as Chief Executive Officer of New Roc Management, a consulting firm focused on providing asset management and operational services and advice to a high net worth family since 2018. Mr. Hartnett has also served as Chief Executive Officer of White Fall Advisors, a consulting firm focused on providing financial and operational advice to various entities since 2016. Prior to that, Mr. Hartnett was a partner and most recently served as a Global Private Equity leader and held various other roles of increasing responsibility at PricewaterhouseCoopers during his tenure from 1988 to 2013. Mr. Hartnett received a B.A. in Accounting from Boston College, an M.B.A. in Finance from Columbia Business School and is a Certified Public Accountant (inactive). Mr. Hartnett has significant experience working with companies across industry sectors and brings unique skills, particularly in finance and accounting.
Ms. Schaefer, 54, has served as President of Two Bit Circus, Inc., a startup concept focusing on social interactions using the latest in technology and gaming, since 2017. From 2009 to 2015, Ms. Schaefer served as Chief Executive Officer and a director of Great Wolf Resorts, Inc. Prior to being appointed their Chief Executive Officer, Ms. Schaefer served as Chief Operating Officer/Chief Brand Officer from 2005 to 2008. Ms. Schaefer has served on the board of Hall of Fame Resort & Entertainment Company (NASDAQ) since July 2020 and served on the board of Education Realty Trust (NYSE) from 2016 to 2018. Ms. Schaefer graduated from Edgewood College with a B.A. in Accounting and is a Certified Public Accountant (inactive). Ms. Schaefer has significant experience in the leisure, hospitality and entertainment sectors and brings unique skills, particularly in operations and marketing, as well as having served on the boards of various companies.
Neither Mr. Hartnett nor Ms. Schaefer have been appointed to any committees of the Board at this time.
There are no arrangements or understandings between any of Mr. Hartnett and Ms. Schaefer and any other persons pursuant to which Mr. Hartnett or Ms. Schaefer was elected to serve as a director of the Company. Neither Mr. Hartnett nor Ms. Schaefer have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Compensation of Directors
Mr. Hartnett’s and Ms. Schaefer’s compensation for their services as non-employee directors will be consistent with that of the Company’s other non-employee directors, subject to pro-ration to reflect the commencement date of their service on the Board as set forth in the Company’s “Outside Director Compensation Policy,” as amended, included in the Company’s Current Report on Form 8-K filed on June 13, 2019 with the Securities and Exchange Commission.
Item 7.01 Regulation FD Disclosure
On December 10, 2020, the Company issued a press release to announce the election of Mr. Hartnett and Ms. Schaefer as directors of the Company. The full text of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference. The information set forth under this Item 7.01 of this Current Report on Form 8-K and in Exhibit 99.1 shall not be deemed to be “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 made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
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Exhibit No. |
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Description |
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99.1 |
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104 |
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Cover page interactive data filed (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.
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SEAWORLD ENTERTAINMENT, INC. |
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Date: December 10, 2020 |
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By: |
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/s/ G. Anthony (Tony) Taylor |
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Name: |
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G. Anthony (Tony) Taylor |
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Title: |
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Chief Legal Officer, General Counsel and Corporate Secretary |
Exhibit 99.1
SeaWorld Entertainment, Inc. Announces Two Additions to its Board of Directors
ORLANDO, Fla., Dec. 10, 2020 – SeaWorld Entertainment, Inc. (NYSE: SEAS) (“SeaWorld” or the “Company”), a leading theme park and entertainment company, today announced its Board of Directors (the “Board”) have elected Timothy Hartnett and Kimberly Schaefer to serve as Directors of the Company, effective December 9, 2020. These appointments increase the size of the Board from eight to ten Directors.
“We are pleased to welcome Tim and Kim to the Company’s Board,” said Scott Ross, Chairman of the SeaWorld Board and Managing Partner of Hill Path Capital. “Tim brings significant experience working with companies across industry sectors and brings unique skills, particularly in finance and accounting. Kim has significant experience in the leisure, hospitality and entertainment sectors and brings unique skills, particularly in operations and marketing. We are very fortunate to have Tim and Kim on our Board and look forward to their contributions.”
Hartnett is currently CEO of New Roc Management, a consulting firm focused on providing asset management and operational services and advice to a high net worth family. From 1988 to 2013 he was employed by PricewaterhouseCoopers where he ultimately served as a partner and global leader of its private equity practice. He received a B.A. in Accounting from Boston College and an M.B.A. in Finance from Columbia Business School.
Schaefer is President of Two Bit Circus, Inc., a startup concept focusing on social interactions using the latest in technology and gaming. From 2009 to 2015, Schaefer served as CEO and a Director of Great Wolf Resorts, Inc., and prior to that, as Chief Operating Officer/Chief Brand Officer. Schaefer serves on the Board of Directors of Hall of Fame Resort & Entertainment Company and served on the Board of Education Realty Trust from 2016 to 2018. She graduated from Edgewood College with a B.A. in Accounting.
About SeaWorld Entertainment, Inc.
SeaWorld Entertainment, Inc. (NYSE: SEAS) is a leading theme park and entertainment company providing experiences that matter, and inspiring guests to protect animals and the wild wonders of our world. The Company is one of the world's foremost zoological organizations and a global leader in animal welfare, training, husbandry and veterinary care. The Company collectively cares for what it believes is one of the largest zoological collections in the world and has helped lead advances in the care of animals. The Company also rescues and rehabilitates marine and terrestrial animals that are ill, injured, orphaned or abandoned, with the goal of returning them to the wild. The SeaWorld® rescue team has helped more than 37,000 animals in need over the Company's history. SeaWorld Entertainment, Inc. owns or licenses a portfolio of recognized brands including SeaWorld®, Busch Gardens®, Aquatica®, Sesame Place® and Sea Rescue®. Over its more than 60-year history, the Company has built a diversified portfolio of 12 destination and regional theme parks that are grouped in key markets across the United States, many of which showcase its one-of-a-kind zoological collection. The Company's theme parks feature a diverse array of rides, shows and other attractions with broad demographic appeal which deliver memorable experiences and a strong value proposition for its guests.
Copies of this and other news releases as well as additional information about SeaWorld Entertainment, Inc. can be obtained online at www.seaworldentertainment.com. Shareholders and prospective investors can also register to automatically receive the Company's press releases, SEC filings and other notices by e-mail by registering at that website.
CONTACT:
Investor Relations:
Matthew Stroud
Vice President, Investor Relations
855-797-8625
Investors@SeaWorld.com
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Media:
Lindsay Walters
Vice President, Edelman
202-867-8014
Lindsay.Walters@Edelman.com