UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 30, 2020
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KLDiscovery Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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001-38789 |
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61-1898603 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
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8201 Greensboro Dr. Suite 300 McLean, VA |
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22102 |
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(Address of principal executive offices) |
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(Zip Code) |
(703) 288-3380
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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N/A |
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N/A |
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N/A |
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 Compensatory Arrangements of Certain Officers
On July 30, 2020, KLDiscovery Inc. (the “Company”) and certain key employees have agreed to reductions in salaries. Christopher Weiler, the Company’s Chief Executive Officer, has agreed to a reduction in his annual salary from $350,000 to $300,000, until December 31, 2020, and forego one week’s salary, or $5,769. In addition, Dawn Wilson, the Company’s Chief Financial Officer, has agreed to continue the reduction in her annual base salary from $400,000 to $320,000 until December 31, 2020 and to forego one week’s salary, or $6,154. Finally, Kristina Jones, the Company’s Executive Vice President, Global LT Sales & Marketing, has agreed to continue the reduction her annual base salary from $575,000 to $490,000 until December 31, 2020, and to forego one week’s salary, or $6,539.
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.
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KLDiscovery Inc. |
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Date: August 5, 2020 |
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By: |
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/s/ Christopher J. Weiler |
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Name: |
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Christopher J. Weiler |
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Title: |
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Chief Executive Officer |