0001564590-20-008717.txt : 20200304 0001564590-20-008717.hdr.sgml : 20200304 20200304171033 ACCESSION NUMBER: 0001564590-20-008717 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20200227 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20200304 DATE AS OF CHANGE: 20200304 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OFFICE DEPOT INC CENTRAL INDEX KEY: 0000800240 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-MISCELLANEOUS SHOPPING GOODS STORES [5940] IRS NUMBER: 592663954 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10948 FILM NUMBER: 20688257 BUSINESS ADDRESS: STREET 1: 6600 NORTH MILITARY TRAIL CITY: BOCA RATON STATE: FL ZIP: 33496 BUSINESS PHONE: 561-438-4800 MAIL ADDRESS: STREET 1: 6600 NORTH MILITARY TRAIL CITY: BOCA RATON STATE: FL ZIP: 33496 8-K 1 odp-8k_20200227.htm 8-K odp-8k_20200227.htm
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): February 27, 2020

 

OFFICE DEPOT, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

1-10948

59-2663954

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

6600 North Military Trail, Boca Raton, FL

 

33496

(Address of Principal Executive Offices)

 

(Zip Code)

(561) 438-4800

(Registrant’s Telephone Number, Including Area Code)

Former Name or Former Address, If Changed Since Last Report: N/A

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

 

Trading

Symbol(s)

 

Name of Each Exchange on which Registered

Common Stock, par value $0.01 per share

 

ODP

 

The NASDAQ Stock Market

(NASDAQ Global Select Market)

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.  ☐

 

1

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b)

On February 27, 2020, Office Depot, Inc. (the “Company”) announced that Jerri DeVard, Executive Vice President, Chief Customer Officer, will leave the Company effective March 16, 2020 (the “Separation Date”). In connection with her departure, Ms. DeVard and the Company will enter into a General Release Agreement (the “Agreement”), pursuant to which Ms. DeVard will receive the following severance benefits consistent with the terms of her letter agreement with the Company dated September 14, 2017 (the “Letter Agreement”): (a) $862,500.00, which equates to eighteen (18) months of Ms. DeVard’s annual base salary in effect on the Separation Date; (b) $14,224.77, which equates to eighteen (18) times the difference between the Company’s monthly COBRA charge for the type of Company-provided group health plan coverage in effect for Ms. DeVard on the Separation Date and the applicable active employee charge for such coverage; and (c) payment under the Company’s 2020 Corporate Bonus Plan, at the earned rate, if any, based on the Company’s achievement of predetermined performance metrics and Ms. DeVard’s 2020 eligible earnings (the “Contractual Severance”). In addition, pursuant to the terms of the Agreement, Ms. DeVard will receive an additional payment in the amount of $222,080.91 and six (6) months of outplacement services (the “Additional Severance” and together with the Contractual Severance, the “Severance Benefits”). The Severance Benefits are subject to Ms. DeVard executing and not revoking a release of all claims against the Company.

 

2

 

SIGNATURE

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.

 

 

 

OFFICE DEPOT, INC.

 

 

 

Date: March 4, 2020

 

/s/ N. David Bleisch

 

 

Name:

N. David Bleisch

 

 

Title:

EVP, Chief Legal & Administrative Officer and Corporate Secretary

 

3

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Entity Central Index Key 0000800240
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Entity Tax Identification Number 59-2663954
Entity Address, Address Line One 6600 North Military Trail
Entity Address, City or Town Boca Raton
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33496
City Area Code 561
Local Phone Number 438-4800
Title of 12(b) Security Common Stock, par value $0.01 per share
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