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    MCFE   US5790631080

MCAFEE CORP.

(MCFE)
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MCAFEE CORP. : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

09/16/2021 | 05:04pm EDT

Item 1.01 Entry into a Material Definitive Agreement.

On September 13, 2021, McAfee, LLC (the "Company"), a subsidiary of McAfee Corp. (the "Corporation") entered into a Purchase and Sale Agreement (the "Agreement") with Capital Commercial Investments, Inc. ("Purchaser") pursuant to which the Company will sell its property at 5000 Headquarters Drive, Plano, Texas 75024, for a purchase price of $31,650,000. Pursuant to the terms of the Agreement, upon closing the Company will enter into a lease agreement for a limited portion of the facility to use for transitional purposes through April 30, 2022. Consummation of the sale is subject to successful due diligence and customary closing conditions. The Corporation can make no assurances that the transaction will close at the price listed or at all.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the text of the Agreement, a copy of which is expected to be filed as an exhibit to the Corporation's quarterly report on Form 10-Q for the quarter ending September 25, 2021.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

On September 14, 2021, the Board of Directors (the "Board") of the Corporation appointed Gunther Bright to the Board. Bright's initial term as a director will expire at the Corporation's 2022 annual meeting of stockholders. Bright will serve on the Audit Committee of the Board. The Corporation intends to enter into a standard form of indemnification agreement with Bright, in the form that is filed as Exhibit 10.36 to the Company's Registration Statement on Form S-1 (File No. 333- 249101), filed with the Securities and Exchange Commission on October 13, 2020.

Gunther Bright has served as Executive Vice President and General Manager of Global and U.S. Large Enterprises at American Express since 2020. Prior to this role, Bright served as Executive Vice President and General Manager of the Merchant Services business of American Express from 2014 to 2020. Bright has served on the board of Warburg Pincus Capital Corp. I-B since June 2021. Bright currently serves as an Executive Committee Member of the Junior Achievement of New York Board of Directors, Vice Chairman and Executive Committee Member of the Alvin Ailey American Dance Theater Board of Trustees, and a member of the Executive Leadership Council. Bright received his Bachelor of Arts degree in Economics from Pace University and completed an Advanced Executive Management Program at the Wharton School.

A copy of the press release, dated September 16, 2021, announcing Gunther Bright's appointment, is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.



Exhibit
  No.       Description

99.1          Press release dated September 16, 2021

104         The cover page of this Current Report on Form 8-K, formatted in Inline
            XBRL.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses

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