Green Dot Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Green Dot Corporation (GDOT) on March 14, 2022, reporting events occurring on March 11, 2022. The filing primarily addresses corporate governance changes regarding the Board of Directors.
Key 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 appointments and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Peter Feld as a member of the Board of Directors, effective March 11, 2022. Mr. Feld, age 43, is a Managing Member and Head of Research at Starboard Value LP. He brings prior board experience from companies including GCP Applied Technologies Inc., NortonLifeLock Inc., Magellan Health, Inc., and AECOM.
Compensation and Governance Details
- Compensation: Mr. Feld will receive a pro rata portion of the $70,000 annual director retainer. He is also eligible for an annual grant of restricted stock units with a grant date value of $125,000 at the next annual meeting of stockholders.
- Indemnification: Mr. Feld entered into the Company's standard indemnification agreement, requiring the Company to indemnify directors against liabilities and advance expenses for legal defense.
- Regulation FD: A press release announcing the appointment is included as Exhibit 99.1.
Investor Verification Checklist
- Verify the effective date of Peter Feld's board appointment (March 11, 2022).
- Confirm the specific terms of the restricted stock unit grant ($125,000 value) and the timing of the award.
- Review the standard non-employee director compensation structure referenced in the filing.
- Check for any potential conflicts of interest given Mr. Feld's role at Starboard Value LP and other board memberships.