SEC Filing Summary: The Rubicon Project, Inc. (Item 5.02)
Business Context and Reporting Period
This Form 8-K was filed by The Rubicon Project, Inc. on March 30, 2017. The report addresses corporate governance changes effective as of the filing date. Note: The registrant name in the filing is The Rubicon Project, Inc., which later became known as Magnite, Inc.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and board appointments.
Material Changes
Effective March 30, 2017, Michael Barrett, the Company's President and CEO, was appointed to serve on the Board of Directors. This appointment was made in accordance with his employment agreement previously filed on March 22, 2017.
Outlook, Risks, and Management Commentary
- Board Term: Mr. Barrett will serve in Class II, with his term expiring at the Company's annual meeting of stockholders in 2019.
- Committee Service: Mr. Barrett will not serve on any committee of the board.
- Compensation: Mr. Barrett will not receive any compensation specifically for his service as a director. His employee compensation is detailed in the March 22, 2017 8-K.
- Related Party Transactions: There are no arrangements or understandings regarding his selection as a director, and he is not a party to any transaction requiring disclosure under Item 404 of Regulation S-K.
Key Facts for Investor Verification
- Verify the terms of Michael Barrett's employment agreement filed as Exhibit 10.1 to the March 22, 2017 8-K.
- Confirm the composition of the Board of Directors and the specific Class II term expiration date (2019).
- Review the March 22, 2017 8-K for details on Mr. Barrett's executive compensation package.