Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensation Arrangements of Certain Officers.
(e)
As previously disclosed by Marin Software Incorporated (the "Company"), in order
to help address and respond to the recent and anticipated effects of the
COVID-19 pandemic on its business, on May 20, 2020, the Board of Directors of
the Company (the "Board") approved, effective as of June 1, 2020, a reduction of
20% to the annual base salaries of each of Christopher Lien, the Company's Chief
Executive Officer ("CEO") and principal executive officer, Robert Bertz, the
Company's Chief Financial Officer ("CFO") and principal financial officer, and
Wister Walcott, the Company's Executive Vice President, Product and Technology
("EVP" and together with the CEO and CFO, the "NEOs"), each of whom is a named
executive officer disclosed in the Summary Compensation Table included in the
Company's definitive proxy statement for its 2020 annual meeting of stockholders
and filed with the Securities and Exchange Commission on April 16, 2020.
On August 11, 2020, the Board approved revising such previous reductions to the
annual base salaries of the NEOs from 20% of their previous annual base salaries
to 10% of their previous annual base salaries, effective as of August 1, 2020.
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