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EVTC > SEC Filings for EVTC > Form 8-K on 14-Aug-2014All Recent SEC Filings

Show all filings for EVERTEC, INC.

Form 8-K for EVERTEC, INC.


Change in Directors or Principal Officers, Financial Statements and Exhibits

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

On August 11, 2014, the Company's Board of Directors, on the recommendation of the Nominating and Corporate Governance Committee, appointed Ms. Olga Botero to the Board and the Board of Director's Nominating and Corporate Governance Committee, such appointments to be effective on September 1, 2014. Ms. Botero fills a vacancy on the Board and satisfies the New York Stock Exchange director independence requirements. On August 14, 2014, the Company issued a press release announcing the appointment. A copy of the press release is being filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

In connection with her appointment, Ms. Botero will enter into an indemnification agreement with the Company, the terms of which are identical in all material respects to the form of indemnification agreement that the Company has previously entered into with each of its directors. The Company's standard form of director indemnification agreement was described in, and previously filed as Exhibit 10.62 to, the Company's Registration Statement on Form S-1 (File No. 333-186487), as amended.

In accordance with the Company's independent director compensation policy, Ms. Botero will be granted a number of restricted stock units with a grant date value of $75,000, as well as $75,000 in cash compensation, payable quarterly in arrears. The restricted stock units will vest one year from the date of grant, provided Ms. Botero is then providing service to the Company. The standard form of restricted stock unit award agreement was previously filed as Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q filed on August 14, 2013.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Number      Exhibit

99.1        Press Release re: director change issued by EVERTEC, Inc. dated
            August 14, 2014.

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