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HERC HOLDINGS INC : Change in Directors or Principal Officers (form 8-K)

12/03/2021 | 04:20pm EDT

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

(b) On December 2, 2021, Mary Pat Salomone retired from the Board of Directors (the "Board") of Herc Holdings Inc. (the "Company").

(d) On December 2, 2021, the Board elected Rakesh Sachdev to serve as a director on the Board. Mr. Sachdev is the former Chief Executive Officer of Platform Specialty Products, a specialty chemicals company. The Board has determined that Mr. Sachdev is an independent director under the New York Stock Exchange listing standards and the Company's Corporate Governance Guidelines.

Mr. Sachdev will serve as a member of the Audit Committee and the Finance Committee.

Mr. Sachdev will participate in the non-employee director compensation program, as described in the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 2, 2021, with his annual cash retainer and equity award prorated for his initial term of service. In addition, Mr. Sachdev entered into an Indemnification Agreement with the Company, which contains substantially the same provisions as the indemnification agreements previously entered into with each of the Company's existing directors, as described in the 2021 definitive proxy statement.



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