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Commitments and Contingencies
12 Months Ended
Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]  
Commitments and Contingencies

(19) Commitments and Contingencies

For a summary of the Company’s debt and lease obligations, see Notes 9 and 18, respectively.

(a) Litigation

From time to time the Company may become involved in legal proceedings or be subject to claims arising in the ordinary course of business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not have a material adverse effect on its business, operating results, financial condition or cash flows. Regardless of the outcome, litigation can have an adverse impact because of defense and settlement costs, diversion of management resources and other factors.

(b) Employee Contracts

The Company has entered into employment contracts with certain of the Company’s executive officers which provide for at-will employment. However, under the provisions of the contracts, the Company would incur severance obligations of up to twelve months of the executive’s annual base salary for certain events, such as involuntary terminations.

(c) CEO Transition

In December 2021, David Meredith notified the Company’s Board of Directors of his intention to resign from his role as Chief Executive Officer (“CEO”). The Board of Directors accepted Mr. Meredith’s resignation and, soon thereafter, established an Office of the CEO and began to transition leadership to long-tenured company executives Patrick Brickley, Executive Vice President, Chief Financial Officer and Treasurer, and Vernon Irvin, Executive Vice President and Chief Revenue Officer. Mr. Brickley and Mr. Irvin continue serving as Interim Co-Chief Executive Officers while the Company searches for a permanent CEO.  Mr. Meredith concluded his role on the Company’s Board of Directors on January 10, 2022 and the Company processed the termination of his employment on January 30, 2022

In connection with Mr. Meredith’s departure, in December 2021, the Company recognized a reversal of $5.6 million within general and administrative expense of previously recognized stock-based compensation as a result of the related forfeiture of his stock-based awards.