UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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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).
Emerging growth company
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.
Appointment of Chief Commercial Officer
On December 28, 2021, SeaWorld Entertainment, Inc. (the “Company”) announced the appointment of Mr. Christopher (Chris) Finazzo as Chief Commercial Officer of the Company, effective January 1, 2022.
Pursuant to his employment offer letter, Mr. Finazzo will receive (i) an annual base salary of $350,000; (ii) an annual bonus opportunity with a target amount equal to 100% of his base salary, payable in cash and/or in fully vested Company common stock consistent with the terms and conditions of the Company’s 2022 annual bonus plan; and (iii) a long-term incentive opportunity with a target amount equal to 150% of his base salary (which will begin with the 2022 long-term incentive period). In addition, Mr. Finazzo will receive (i) a one-time grant of non-qualified stock options in respect of a number of shares of the Company’s common stock equal to $1,333,333 divided by the price of the Company’s common stock on the date of grant and an exercise price equal to the closing price of the Company’s common stock on the New York Stock Exchange on the date of grant which will vest in three equal annual installments over the first three anniversaries of the date of grant; (ii) a one-time grant of restricted stock units with a value on the grant date equal to $1,633,333 which will vest in three equal annual installments over the first three anniversaries of the date of grant; and (iii) a one-time grant of performance stock units under the Company’s 2021 long-term incentive plan with a value on the grant date (using the price of the Company’s common stock) equal to $1,333,333 which will vest subject to the achievement of certain performance goals during the 2021-2023 calendar years (or, extended through the end of the 2024 calendar year, as applicable), subject to Mr. Finazzo’s continued employment by the Company on the date of the applicable final determination. Mr. Finazzo will also participate in the Company's Key Employee Severance Plan.
Prior to becoming the Company’s Chief Commercial Officer, Mr. Finazzo, 40, served as a consultant to the Company from August 2021 through December 31, 2021. Prior to that, he served in various roles at Burger King Corporation (“BKC”), including President of BKC, Americas from December 2017 to July 2021, Head of Marketing, North America from January 2017 until December 2017 and Head of Development from January 2016 until January 2017. Since joining BKC in 2014, Mr. Finazzo also held various roles in marketing and development. Prior to joining BKC in 2014, Mr. Finazzo was on the strategy team at Macy’s. Mr. Finazzo served as a director of Carrols Restaurant Group, Inc. from February 2020 through July 2021. Mr. Finazzo also served as director of Burger King Foundation Inc. from 2018 to July 2021. Mr. Finazzo holds a bachelor's degree in economics from the University of Connecticut.
There are no arrangements or understandings between Mr. Finazzo and any other persons pursuant to which Mr. Finazzo was elected to serve as Chief Commercial Officer. There are no family relationships between Mr. Finazzo and any director or executive officer of the Company. Mr. Finazzo has been serving as a consultant to the Company since August 2021 and will serve as a consultant through December 31, 2021. Mr. Finazzo will be paid an aggregate of $96,000 in cash and an aggregate of 2,860 restricted stock units with a grant date fair value of $120,000 for his consulting services. There are no other transactions between Mr. Finazzo and the Company that would be required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 7.01 Regulation FD Disclosure.
A press release announcing the appointment of Mr. Finazzo as Chief Commercial Officer is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d)Exhibits
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Description |
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99.1 |
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104 |
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Cover page interactive data filed (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.
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SEAWORLD ENTERTAINMENT, INC. |
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Date: December 28, 2021 |
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By: |
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/s/ G. Anthony (Tony) Taylor |
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Name: |
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G. Anthony (Tony) Taylor |
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Title: |
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Chief Legal Officer, General Counsel and Corporate Secretary |
Exhibit 99.1
SEAWORLD ENTERTAINMENT, INC. ANNOUNCES chris finazzo TO JOIN AS chief commercial officer (CCO)
ORLANDO, FL, December 28, 2021 — SeaWorld Entertainment, Inc. (NYSE: SEAS), a leading theme park and entertainment company, today announced that Chris Finazzo will join the company as Chief Commercial Officer effective January 1, 2022. Chris will be responsible for all commercial aspects of the business including revenue and marketing. SeaWorld's Board of Directors unanimously approved the appointment.
“We are excited to have Chris join the leadership team,” said Marc Swanson, Chief Executive Officer of SeaWorld Entertainment, Inc. “Chris brings 17 years of consumer experience through a variety of leadership roles with major retail and food brands, consulting, and financial services firms. His experience and commercial skillset will be a great asset for us as we continue to execute our business plan and growth strategies.”
“I am excited to join such a high-quality business with a portfolio of irreplaceable assets and globally recognized brands,” said Chris Finazzo. “I look forward to working with the team to continue to execute on their proven business plan and fully realize the significant upside potential of the business. I’m also proud to be part of an organization that is committed to protecting animals and their habitats and inspiring the next generation of conservationists.”
Prior to SeaWorld Entertainment, Inc., Chris served in a variety of roles with Burger King from 2014 – 2021, most recently as President (2017-2021) where he oversaw marketing, operations, franchising, field operations, finance, and development for nearly 10,000 restaurants across the U.S., Canada, and Latin America. He also served as Head of Marketing, North America (2017), Head of Development (2016), and Co-Chairman of the Burger King McLamore Foundation. Before joining Burger King, Chris led customer strategy and intelligence for Macy’s and served as a project manager for retail and ecommerce for Hudson International Consulting. He has also served previously in various roles in the financial services industry.
About SeaWorld Entertainment, Inc.
SeaWorld Entertainment, Inc. (NYSE: SEAS) is a leading theme park and entertainment company providing experiences that matter, and inspiring guests to protect animals and the wild wonders of our world. The Company is one of the world’s foremost zoological organizations and a global leader in animal welfare, training, husbandry and veterinary care. The Company collectively cares for what it believes is one of the largest zoological collections in the world and has helped lead advances in the care of animals. The Company also rescues and rehabilitates marine and terrestrial animals that are ill, injured, orphaned or abandoned, with the goal of returning them to the wild. The SeaWorld® rescue team has helped more than 39,500 animals in need over the Company’s history. SeaWorld Entertainment, Inc. owns or licenses a portfolio of recognized brands including SeaWorld®, Busch Gardens®, Aquatica®, Sesame Place® and Sea Rescue®. Over its more than 60-year history, the Company has built a diversified portfolio of 12 destination and regional theme parks that are grouped in key markets across the United States, many of which showcase its one-of-a-kind zoological collection. The Company’s theme parks feature a diverse array of rides, shows and other attractions with broad demographic appeal which deliver memorable experiences and a strong value proposition for its guests.
Copies of this and other news releases as well as additional information about SeaWorld Entertainment, Inc. can be obtained online at www.seaworldentertainment.com. Shareholders and prospective investors can also register to automatically receive the Company’s press releases, SEC filings and other notices by e-mail by registering at that website.
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CONTACT:
Investor Relations:
Matthew Stroud
855-797-8625
Investors@SeaWorld.com
Media:
Lisa Cradit
646-245-2476
Mediarelations@SeaWorld.com
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Document And Entity Information |
Dec. 28, 2021 |
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Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Dec. 28, 2021 |
Entity Registrant Name | SeaWorld Entertainment, Inc. |
Entity Central Index Key | 0001564902 |
Entity Emerging Growth Company | false |
Entity File Number | 001-35883 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 27-1220297 |
Entity Address, Address Line One | 6240 Sea Harbor Drive |
Entity Address, City or Town | Orlando |
Entity Address, State or Province | FL |
Entity Address, Postal Zip Code | 32821 |
City Area Code | 407 |
Local Phone Number | 226-5011 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of each class | Common Stock, par value $0.01 per share |
Trading Symbol(s) | SEAS |
Name of each exchange on which registered | NYSE |
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