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EX-10.1 - EX-10.1 - SYNCHRONOSS TECHNOLOGIES INCa17-15305_1ex10d1.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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): June 9, 2017

 


 

SYNCHRONOSS TECHNOLOGIES, INC.

(Exact Name of Registrant as Specified in its Charter)

 


 

Delaware

 

000-52049

 

06-1594540

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

200 Crossing Boulevard, 8th Floor
Bridgewater, New Jersey

 

 

08807

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (866) 620-3940

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 


 

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:

 

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

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 o

 

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. o

 

 

 



 

Item 5.02.                                              Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(b)           Departure of Certain Officers.

 

On June 9, 2017, Synchronoss Technologies, Inc. (the “Company”) entered into a Release Agreement (the “Agreement”) with John DeFeo, the Company’s Executive Vice President, Customer Success & Technology.  Pursuant to the Agreement, Mr. DeFeo’s employment will terminate on June 30, 2017 and he will receive a lump sum severance payment of $768,000 and a payment of $27,956 for the employer share of health insurance premiums for twenty-four months, each payment less applicable federal and state tax withholdings.  In addition, 19,072 restricted stock units and options to purchase 49,843 shares of the Company’s common stock, which were subject to time-based vesting, will become vested on the termination date.  In exchange for these payments, Mr. DeFeo agreed to a general release of claims against the Company, among other customary terms.  The lump sum severance payment and acceleration of restricted stock units and options to purchase common stock is provided for in the employment agreement between the Company and Mr. DeFeo, as amended.

 

The foregoing summary of the Agreement is qualified in its entirety by reference to the Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated by reference herein.

 

Item 9.01              Financial Statements and Exhibits.

 

(d)           Exhibits

 

Exhibit No. 

 

Description

 

 

 

10.1

 

Release Agreement, dated as of June 9, 2017, by and between Synchronoss Technologies, Inc. and John DeFeo.

 

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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.

 

Date: June 15, 2017

SYNCHRONOSS TECHNOLOGIES, INC.

 

 

 

 

By:

/s/ Stephen G. Waldis

 

 

Name:

Stephen G. Waldis

 

 

Title:

Chief Executive Officer

 

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