UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| 1 | We have adopted a distributed work model and, therefore, have no formal headquarters. This address represents our “principal executive office,” which we are required to identify under Securities and Exchange Commission rules. |
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 27, 2023, the Board of Directors (the “Board”) of Block Inc. (the “Company”) increased the size of the Board from eleven to twelve directors and elected Neha Narula to the Board as a Class I director, effective July 27, 2023. Ms. Narula is not expected to serve on any individual Board committees at this time.
Neha Narula has served as a Director of the Digital Currency Initiative at the Massachusetts Institute of Technology (“MIT”) Media Lab since January 2017. Prior to joining MIT, Ms. Narula was a senior software engineer at Google. Ms. Narula currently serves on the Federal Reserve Bank of New York’s Innovation Advisory Council. Ms. Narula holds a B.A. in Mathematics and Computer Science from Dartmouth College and a Master’s degree and a Ph.D. in Computer Science from MIT.
Ms. Narula was selected to serve on our board of directors for her valuable experience building fast, scalable distributed systems and databases, specifically focused on Bitcoin and open source technology.
Ms. Narula will receive the Company’s standard remuneration for non-employee directors in accordance with the Company’s Outside Director Compensation Policy, as described in the proxy statement relating to the Company’s 2023 annual meeting of stockholders. Ms. Narula has also executed the Company’s standard form of indemnification agreement.
There is no arrangement or understanding between Ms. Narula and any other persons pursuant to which Ms. Narula was selected as a director. Furthermore, there are no family relationships between Ms. Narula and any director or executive officer of the Company, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.1 | Press Release, dated July 27, 2023. | |
| 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.
| BLOCK, INC. | ||||||
| Date: July 27, 2023 | By: | /s/ Chrysty Esperanza | ||||
| Chrysty Esperanza | ||||||
| Chief Legal Officer and Corporate Secretary | ||||||