Definitive Healthcare Corp.

08/07/2024 | Press release | Distributed by Public on 08/07/2024 20:26

Management Change/Compensation Form 8 K

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

As previously disclosed, the Board of Directors (the "Board") of Definitive Healthcare Corp. (the "Company") appointed Kevin Coop to the position of Chief Executive Officer ("CEO") and as a member of the Board, each effective June 24, 2024 (the "Start Date"). In connection with Mr. Coop's appointment as CEO, the Company entered into an Employment Agreement with Mr. Coop, dated as of May 20, 2024 (the "Employment Agreement"), the terms of which were disclosed in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on May 24, 2024. In addition to the terms set forth in the Employment Agreement, on July 4, 2024, the Company granted to Mr. Coop an award of 186,192 time-vesting restricted stock units (the "RSU Award") with respect to the Company's Class A Common Stock, par value $0.001 per share, vesting 25% on July 1, 2025 and 6.25% per quarter thereafter until fully vested over the subsequent three years, subject to Mr. Coop's continued employment through each applicable vesting date. The RSU Award is intended to make up for a shortfall in the equity grant value delivered to Mr. Coop due, in part, to share price volatility between the dates surrounding the announcement of Mr. Coop's appointment and his Start Date.