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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 Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 8, 2022, Sabre Corporation (“Sabre”) announced that that Karl Peterson will retire as Chairman of the Board and that Sean Menke has been elected Chair of the Board and Chief Executive Officer, each effective as of April 28, 2022. Mr. Peterson’s retirement as Chairman of the Board does not affect his position as a director of Sabre. Sabre also announced that Gregg Saretsky has been elected as independent Lead Director, effective as of April 28, 2022, with the duties set forth in Sabre’s Corporate Governance Guidelines. The Board of Directors (the “Board”) has approved an amendment to Sabre’s non-employee director compensation program to provide for an additional annual cash retainer for the Lead Director in the amount of $50,000, effective April 28, 2022.
In addition, on March 8, 2022, Sabre announced that Gary Kusin will retire from the Board, as well as from all Board committees on which he sits, immediately prior to Sabre’s Annual Meeting of Stockholders, to be held on April 27, 2022. His decision to retire is not the result of any disagreement with Sabre or its management with respect to any matter relating to Sabre’s operations, policies or practices. The size of the Board will be reduced to ten directors, effective upon his retirement from the Board.
A copy of the press release announcing these items is included as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 99.1 | Press Release, dated March 8, 2022. | |
| 104 | Cover Page Interactive Data File—formatted as Inline XBRL. | |
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.
| Sabre Corporation | ||||||
| Dated: March 8, 2022 | By: | /s/ Doug Barnett | ||||
| Name: Title: |
Doug Barnett | |||||
| Executive Vice President and Chief Financial Officer | ||||||
