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MarketScreener Homepage  >  Equities  >  Nyse  >  Square, Inc.    SQ


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SQUARE, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

06/16/2020 | 04:17pm EST

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

           Appointment of Certain Officers; Compensatory Arrangements of Certain

On June 16, 2020, the Board of Directors (the "Board") of Square, Inc. (the "Company") increased the size of the Board from ten to eleven directors and elected Darren Walker to the Board as a Class III director, effective immediately. Mr. Walker will serve until the Company's 2021 annual meeting of stockholders, when he will be a nominee for election to the Board by a vote of the Company's stockholders. The Board has not yet made a determination regarding committee assignments for Mr. Walker.

Mr. Walker, age 60, has served as President of the Ford Foundation, a philanthropic organization, since 2013. From 2010 to 2013, he served as Vice President for Education, Creativity and Free Expression at the Ford Foundation. Prior to the Ford Foundation, Mr. Walker worked for the Rockefeller Foundation, a philanthropic organization, and served as a Vice President responsible for foundation initiatives from 2005 to 2010. From 1995 to 2002, he was the Chief Operating Officer of Abyssinian Development Corporation, a community development organization in New York City'sHarlem neighborhood. Prior to that, Mr. Walker held various positions in finance and banking at UBS AG. Mr. Walker currently serves on the board of PepsiCo, Inc. and on the boards of several non-profit organizations, including the National Gallery of Art, Lincoln Center for the Performing Arts, Friends of the High Line, the Smithsonian National Museum of African American History & Culture, and Carnegie Hall. Mr. Walker is also a member of the Council on Foreign Relations and the American Academy of Arts and Sciences. Mr. Walker holds B.A., B.S., and J.D. degrees from the University of Texas at Austin.

There is no arrangement or understanding between Mr. Walker and any other persons pursuant to which Mr. Walker was selected as a director. Furthermore, there are no family relationships between Mr. Walker and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Mr. Walker will receive the Company's standard remuneration for non-employee directors in accordance with the Company's Outside Director Compensation Policy, as described in the proxy statement relating to the Company's 2020 annual meeting of stockholders. Mr. Walker has also executed the Company's standard form of indemnification agreement.

A copy of the press release announcing Mr. Walker's appointment is filed as Exhibit 99.1 to this Current Report on Form 8-K.


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

   No.           Description

   99.1            Press Release, dated June 16, 2020.

   104           Cover Page Interactive Data File (embedded within the Inline XBRL


© Edgar Online, source Glimpses

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