Priority Technology Holdings, Inc 8-K, filed Jan 14, 2020
Priority Technology Holdings, Inc. (PRTH)
8-K
2020-01-14
For: 2020-01-09
View Original
Added on
April 12, 2026
About this 8-K
Priority Technology Holdings, Inc filed this 8-K on January 14, 2020, reporting on events of January 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 8-K
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 January 9, 2020, Mr. Afshin Yazdian informed Priority Technology Holdings, Inc. (the Company) that he will resign from his position as President of the Company's Consumer Payments (core acquiring) operating segment, effective January 17, 2020. Mr. Yazdian joined the Company upon its merger with Pipeline Cynergy Holdings, LLC in 2014, where Mr. Yazdian had served as President and Chief Executive Officer. Upon resignation from his current role, Mr. Yazdian will serve the Company as an adviser to its board of directors.
Effective January 17, 2020, Mr. Yazdian and the Company have mutually agreed to terminate the employment agreement (the Agreement) between the Company and Mr. Yazdian, dated May 21, 2014, which was included as Exhibit 10.11 in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 through incorporation by reference to Exhibit 10.11 to the Company's Registration Statement on Form S-4/A, filed December 26, 2018. In connection with Mr. Yazdian’s resignation, the Company and Mr. Yazdian have agreed that Section 5(d) of the Agreement related to non-competition matters will remain in effect until July 1, 2020.
SIGNATURE
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.
Dated: January 14, 2020 | ||
PRIORITY TECHNOLOGY HOLDINGS, INC. | ||
By: /s/ Michael Vollkommer | ||
Name: Michael Vollkommer | ||
Title: Chief Financial Officer | ||