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MarketScreener Homepage  >  Equities  >  Nasdaq  >  HealthEquity, Inc.    HQY

HEALTHEQUITY, INC.

(HQY)
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HEALTHEQUITY, INC. : Termination of a Material Definitive Agreement (form 8-K)

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01/23/2020 | 04:12pm EDT

Item 1.02 Termination of a Material Definitive Agreement.

On January 17, 2020, WageWorks, Inc. ("WageWorks"), a subsidiary of the HealthEquity, Inc., entered into a Lease Termination Agreement with Park Place Holdco, LLC (as successor in interest to Park Place Realty Holding Company, Inc.). Under the terms of the Lease Termination Agreement, the office lease (the "Terminated Lease") dated April 10, 2014 by and between WageWorks and Park Place Realty Holding Company, Inc. was terminated, effective as of March 7, 2020. Under the terms of the Terminated Lease, WageWorks leased approximately 37,937 rentable square feet in San Mateo, California. In connection with the Lease Termination Agreement, WageWorks agreed to pay a termination fee in the amount of $1.5 million.

This current report on Form 8-K summarizes the material provisions of the Lease Termination Agreement, although the Lease Termination Agreement is subject to other customary terms and conditions. This summary is qualified in its entirety by reference to the full text of the Lease Termination Agreement, which is included in Exhibit 10.1 to this Form 8-K.

(d) Exhibits

Exhibit No. Description

  10.1   Lease Termination Agreement




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© Edgar Online, source Glimpses

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