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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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Emerging growth company
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Item 5.02. Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 3, 2022, the Company appointed John Eldh as President of the Company, effective February 3, 2022. Mr. Eldh, age 54, has served as the Company’s Chief Revenue Officer since October 2019. Michael L. Baur, who currently serves as Chairman, Chief Executive Officer and President of the Company, will continue to serve as the Company’s Chairman and Chief Executive Officer.
In connection with Mr. Eldh’s appointment as President of the Company, the Compensation Committee approved an increase to Mr. Eldh’s base salary from $500,000 to $650,000. Mr. Eldh will continue to be eligible to participate in the Company’s Management Incentive Plan with a target bonus opportunity of 200% of his base salary, and Mr. Eldh’s annual grant of long-term equity incentives will be increased from $1,500,000 to $1,875,000.
The full text of the press release announcing Mr. Eldh’s appointment is furnished as Exhibit 99.1 to this Current Report on Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. |
Description of Exhibit | |
| 99.1 | Press Release | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ScanSource, Inc. | ||||||
| By: | /s/ Michael L. Baur | |||||
| Date: February 9, 2022 | ||||||
| Name: Its: |
Michael L. Baur Chief Executive Officer | |||||
