TrueBlue Inc.

05/08/2024 | Press release | Distributed by Public on 05/08/2024 21:00

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.
On August 2, 2024, TrueBlue, Inc. (the "Company") announced Jason Embick will be promoted to Senior Vice President and Chief Accounting Officer of the Company, effective August 19, 2024. Mr. Embick will succeed Richard Christensen, who will be transitioning to the role of Senior Vice President - Risk, Treasury, and Corporate Development.
Mr. Embick, age 47, joined the Company in March 2020 as Vice President, Corporate Controller. Prior to joining the Company, he worked for The Walt Disney Company ("Disney") from April 2011 to February 2020, where he served in several accounting leadership roles in the Film Studio, Media Networks, and Corporate segments. Prior to his tenure at Disney, he was Director - Transaction Support & Financial Reporting for Live Nation Entertainment, Inc. from November 2009 to April 2011. He spent the first ten years of his career at Deloitte & Touche, a public accounting firm. Mr. Embick earned a B.S. in Accounting from the University of Southern California and is a certified public accountant.
In connection with Mr. Embick's appointment as Senior Vice President and Chief Accounting Officer, the Company and Mr. Embick entered into a new employment agreement dated August 2, 2024 (the "Employment Agreement"). Pursuant to the Employment Agreement, Mr. Embick will earn an annual base salary of $280,000, and will be eligible to receive additional annual compensation consisting of: (a) a cash bonus of up to 40% of his base salary, subject to the achievement of certain performance objectives, and (b) restricted stock units with a grant date value of up to 40% of his base salary, vesting ratably over a four year period. He will also receive a one-time promotional grant of restricted stock units of 40% of his base salary, which will vest ratably over a fouryear period. The Company will also enter into its standard form of indemnification agreement with Mr. Embick.
There are no arrangements or understandings between Mr. Embick and any other persons pursuant to which he was appointed as Senior Vice President and Chief Accounting Officer, and no family relationships among any of the Company's directors or executive officers and Mr. Embick. Mr. Embick has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.