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BFAM > SEC Filings for BFAM > Form 8-K on 17-Jan-2014All Recent SEC Filings




Change in Directors or Principal Officers

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

On January 16, 2014, the Board of Directors (the "Board") of Bright Horizons Family Solutions Inc. (the "Company") elected E. Townes Duncan as a member of the Board, effective immediately. The Board increased the size of the Board from 10 to 11 members and appointed Mr. Duncan to fill the vacancy. There are no arrangements or understandings pursuant to which Mr. Duncan was elected.

Mr. Duncan, age 60, is the Managing Partner of Solidus Company LP, a private investment firm, and has served in that capacity since its inception in 1997. From 1993 to 1997, Mr. Duncan was the Chairman of the Board of Directors and Chief Executive Officer of Comptronix Corporation, a provider of electronics contract manufacturing services. Mr. Duncan also served as a Vice President and principal of Massey Burch Investment Group, Inc., a venture capital firm and the predecessor of Massey Burch Capital Corp., from 1985 to 1993. In addition, Mr. Duncan is a director of numerous private companies and previously served on the board of directors of several private and public companies, including J. Alexander's Corporation, an owner and operator of casual dining restaurants.

Mr. Duncan will serve as a Class II director, which class will stand for re-election at the 2015 annual meeting of stockholders. Mr. Duncan will also serve as a member of the Board's Audit Committee.

Mr. Duncan will participate in the Company's director compensation program. In connection with his appointment to the Board, Mr. Duncan also received an option to purchase 2,000 shares of the Company's common stock, which award was granted pursuant to the terms of the Company's 2012 Omnibus Long-Term Incentive Plan. In addition, Mr. Duncan and the Company entered into the Company's standard indemnification agreement, the terms of which are described in the Company's Registration Statement on Form S-1 (File No. 333-184579) (the "Registration Statement") and a form of such agreement was filed as Exhibit 10.16 to the Registration Statement.

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