Repay Holdings Corp 8-K, filed Apr 25, 2025
Repay Holdings Corp (RPAY)
About this 8-K
Repay Holdings Corp filed this 8-K on April 25, 2025, reporting on events of April 21, 2025.
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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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 April 21, 2025, Timothy J. Murphy notified Repay Holdings Corporation (the “Company”) of his decision to resign as Chief Financial Officer of the Company, effective May 15, 2025. Mr. Murphy’s resignation is for personal reasons and is not the result of any dispute or disagreement with the Company or its Board of Directors, including any matters relating to the Company’s operations, polices, accounting practices or financial reporting.
The Company intends to conduct an executive search for a new Chief Financial Officer. In the interim, Thomas E. Sullivan has been appointed to serve as the Company’s Interim Chief Financial Officer, effective upon Mr. Murphy’s departure. Mr. Sullivan, age 39, joined the Company in November 2018 and has served as the Company’s Chief Accounting Officer since September 2021. From November 2018 to September 2021, Mr. Sullivan served as the Company’s Vice President, Corporate Controller. Prior to joining the Company, from September 2014 to November 2018, Mr. Sullivan served as Vice President and Corporate Controller of GreenSky.
On April 25, 2025, the Company issued a press release announcing Mr. Murphy’s departure. A copy of the press release is attached to this report as Exhibit 99.1 and incorporated herein by reference.
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Press Release dated April 25, 2025 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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 hereunto duly authorized.
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Repay Holdings Corporation |
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Dated: April 25, 2025 |
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/s/ Tyler B. Dempsey |
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Tyler B. Dempsey |
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General Counsel |
Exhibit 99.1
REPAY Announces Chief Financial Officer Transition
ATLANTA--(BUSINESS WIRE)—April 25, 2025-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of integrated payment processing solutions, today announced that Tim Murphy will be stepping down from his role as Chief Financial Officer to pursue an opportunity outside of the payments industry with a private equity-backed company. Mr. Murphy has served as the Chief Financial Officer of REPAY since 2014, and helped guide the company to its successful public listing in 2019 while also completing eleven acquisitions during his tenure. Mr. Murphy will remain with the Company until May 15, 2025 to help facilitate a smooth transition. Upon his departure from the Company, Thomas Sullivan will be appointed as Interim Chief Financial Officer until a permanent replacement can be identified. Mr. Sullivan is currently the Company’s Chief Accounting Officer.
“We are incredibly grateful to Tim for his many contributions to REPAY over the last eleven plus years,” said John Morris, CEO of REPAY. “His unique combination of skills has been essential as REPAY’s first Chief Financial Officer, as both a private and a public company. We wish him well in all his future endeavors, and we are now focused on conducting a search process for the right candidate to continue leading our financial organization.”
“I want to thank John and the entire REPAY team, along with REPAY’s Board of Directors, for their partnership and contributions since I joined in 2014,” said Tim Murphy. “I have nothing but respect and admiration for the organization and the people who have made my time here extremely meaningful, and I look forward to watching their success in the future.”
About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about REPAY’s executive search plans. Such forward-looking statements are based upon the current beliefs and expectations of REPAY’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond REPAY’s control, including, without limitation, the factors described in REPAY’s reports filed with the U.S. Securities and Exchange Commission. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information.
Contacts
Investor Relations for REPAY:
ir@repay.com
Media Relations for REPAY:
Kristen Hoyman
khoyman@repay.com
Source: Repay Holdings Corporation