UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 30, 2021, the Board of Directors (the “Board”) of Verra Mobility Corporation (the “Company”) appointed Sarah Farrell, effective December 30, 2021, as a Class III director to fill the vacancy created by the resignation of Jacob Kotzubei on December 17, 2021.
Ms. Farrell, age 30, is currently a Partner at Inclusive Capital Partners, L.P., a San Francisco-based investment firm that seeks to partner with companies that address and enable solutions to address environmental and societal problems. Ms. Farrell is a former director at Lindblad Expeditions Holdings, Inc., where she was a member of the Audit Committee from March 2020 through April 2021. Ms. Farrell has also served as a board observer at Reddit, Inc. since February 2021 and a director of Kolmac Outpatient Recovery Centers, a private network of intensive outpatient addiction treatment centers, since July 2021. Prior to joining Inclusive Capital Partners at its inception in July 2020, Ms. Farrell worked as an Associate at ValueAct Capital, a San Francisco-based investment firm where she started in August of 2018. Ms. Farrell also worked in The Blackstone Groups’ Private Equity division from August 2016 through July 2018. Prior to joining Blackstone, she worked in investment banking at J.P. Morgan in the Mergers & Acquisitions group since May of 2014. Ms. Farrell holds a bachelor’s degree in Honors Chemistry from Harvard College. We believe that Ms. Farrell’s experience supporting environmental, social and governance initiatives and her background in investment banking makes her well qualified to serve as a member of the Company’s Board.
Ms. Farrell’s initial term will expire at the Company’s 2024 annual meeting of stockholders or her earlier resignation or removal. As of the date of this Current Report on Form 8-K, neither Ms. Farrell nor any of her immediate family members is a party, either directly or indirectly, to any transaction that would be required to be reported under Rule 404(a) of Regulation S-K, nor is Ms. Farrell party to any understanding or arrangement pursuant to which she was appointed as a director.
Ms. Farrell will be compensated in accordance with the Company’s standard compensation policies and practices for the Board, the components of which were disclosed in the Company’s Proxy Statement filed with the Securities and Exchange Commission on April 12, 2021.
Item 8.01 Other Events.
On January 3, 2022, the Company issued a press release announcing the appointment of Sarah Farrell to the Board, which is filed herewith as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
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Description of Exhibits |
99.1 |
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Press Release, dated January 3, 2022, issued by Verra Mobility Corporation. |
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Cover page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 3, 2022 |
Verra Mobility Corporation |
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/s/ Patricia Chiodo |
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Patricia Chiodo |
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Chief Financial Officer |
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Exhibit 99.1
Verra Mobility Announces Appointment of Sarah Farrell to its Board of Directors
MESA, Ariz., Jan. 3, 2022 /PRNewswire/ -- Verra Mobility (NASDAQ: VRRM), a leading provider of smart mobility technology solutions, announced today that Sarah Farrell has been appointed as a new director, filling the vacancy on the Board after the resignation of Jacob Kotzubei on December 17, 2021.
Ms. Farrell is a Partner at Inclusive Capital Partners, a San Francisco-based investment firm that seeks to partner with companies that address and enable solutions to address environmental and societal problems. Inclusive Capital Partners beneficially owns more than five percent of the Company’s outstanding common stock.
“We are excited to welcome Sarah Farrell to our Board,” said David Roberts, President and CEO, Verra Mobility. “We believe that Ms. Farrell’s experience supporting environmental, social and governance initiatives and her background in finance and investing makes her well-qualified to serve as a member of Verra Mobility’s Board.”
“I’m excited to join the Board of Verra Mobility, a leading provider of solutions and technologies that make mobility safer and easier,” said Ms. Farrell. “I look forward to working actively with David and his leadership team, as well as my fellow board colleagues, to continue their existing work while advancing and celebrating the Company’s successful business model.”
In addition to her role at Inclusive Capital Partners, Ms. Farrell serves as a board observer at Reddit, Inc. and a director at Kolmac Outpatient Recovery Centers, a private network of intensive outpatient addiction treatment centers. Ms. Farrell is also a former director at Lindblad Expeditions Holdings, Inc., where she was a member of the Audit Committee.
Prior to joining Inclusive Capital Partners at its inception in July 2020, Ms. Farrell worked as an Associate at ValueAct Capital, a San Francisco-based investment firm and previously worked at The Blackstone Group in its Private Equity division. Prior to joining Blackstone, she worked in investment banking at J.P. Morgan in the Mergers & Acquisitions group. Ms. Farrell holds a bachelor’s degree in Honors Chemistry from Harvard College.
About Verra Mobility
Verra Mobility (NASDAQ: VRRM) is committed to developing and using the latest in technology and data intelligence to help make transportation safer and easier. As a global company operating in more than 15 countries, Verra Mobility sits at the center of the mobility ecosystem – one that brings together vehicles, devices, information, and people to solve the most complex challenges faced by our customers and the constituencies they serve.
Verra Mobility serves the world's largest commercial fleets and rental car companies to manage tolling transactions and violations for millions of vehicles. As a leading provider of connected systems, Verra Mobility processes millions of transactions each year through integration and connectivity with hundreds
of tolling and issuing authorities. Verra Mobility fosters the development of safe cities, partnering with law enforcement agencies, transportation departments and school districts, operating thousands of red-light, speed, bus lane and school bus stop arm safety cameras. Arizona-based Verra Mobility operates in North America, Europe, Asia, and Australia. For more information, please visit www.verramobility.com.
Media Relations: Investor Relations:
Eric Krantz IR@verramobility.com
eric.krantz@verramobility.com
Phone: (480) 596-4862
1150 North Alma School Road, Mesa, Arizona 85201 ● TEL 480.443.7000 ● www.verramobility.com