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): May 7, 2014
TRINET GROUP, INC.
(Exact name of registrant as specified in its charter)
Delaware | 001-36373 | 95-3359658 | ||
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(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1100 San Leandro Blvd., Suite 400 San Leandro, CA |
94577 | |
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(Address of principal executive offices) | (Zip Code) |
Registrants telephone number, including area code: (510) 352-5000
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)) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(d) | Appointment of Director |
On May 7, 2014, the Board of Directors (the Board) of TriNet Group, Inc. (the Company) appointed John H. Kispert to the Board. Mr. Kispert was also appointed to serve on the Compensation Committee of the Board. The Board determined that Mr. Kispert is independent within the meaning of the rules of the New York Stock Exchange and the Companys Corporate Governance Guidelines. Mr. Kispert is entitled to receive the standard compensation and indemnification arrangements given to other non-management directors, as disclosed in the Companys final prospectus filed with the Securities and Exchange Commission on March 27, 2014 pursuant to Rule 424(b) under the Securities Act of 1933, as amended.
In March 2014, in connection with the Companys initial public offering (IPO), the underwriters reserved for sale, at the initial public offering price, up to 5% of the common stock offered in the IPO for sale to certain of the Companys business associates and clients. The number of shares of common stock available for sale to the general public was reduced by the number of directed shares purchased by participants in the program, and any directed shares not purchased were offered by the underwriters to the general public on the same terms as the other shares of common stock offered in the IPO. Mr. Kispert purchased 62,500 shares of the Companys common stock through the directed share program for an aggregate purchase price of $1 million.
A copy of the press release announcing Mr. Kisperts appointment is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits |
Exhibit No. |
Description | |
99.1 | Press Release, dated May 12, 2014, entitled TriNet Appoints John H. Kispert to Board of Directors. |
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.
TriNet Group, Inc. | ||||||
Dated: May 12, 2014 | ||||||
By: | /s/ Gregory L. Hammond | |||||
Gregory L. Hammond | ||||||
Executive Vice President and Chief Legal Officer |
INDEX TO EXHIBITS
Exhibit No. |
Description | |
99.1 | Press Release, dated May 12, 2014, entitled TriNet Appoints John H. Kispert to Board of Directors. |
Exhibit 99.1
TriNet Appoints John H. Kispert to Board of Directors
SAN LEANDRO, Calif. May 12, 2014 TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced that John H. Kispert has been appointed to its board of directors effective May 7, 2014. Kispert brings more than 18 years of senior executive leadership to TriNet, along with a proven track record of driving shareholder value by building high performance organizations through strategic development and M&A. His broad background includes executive, financial and operational roles.
Since 2009, Kispert has served as president, chief executive officer and member of the board of directors of Spansion, Inc., a global leader of embedded systems solutions. Prior to joining Spansion, Kispert spent 13 years in a number of executive roles at KLA-Tencor, including president and chief operations officer. Previously, he held several senior management positions with IBM. Kispert holds a B.A. degree in Political Science from Grinnell College and an M.B.A. from the University of California, Los Angeles.
Burton M. Goldfield, President and CEO, TriNet
I am pleased to welcome John Kispert to TriNets board. His experience in building enduring publicly-traded companies is valuable as we continue to execute our vision. Kisperts impressive background in leadership, technology and financial and operational management will bring strategic guidance for the continued success of TriNet.
John H. Kispert, Director, TriNet
I am thrilled to join TriNets board of directors and am a firm believer in the companys future. Built on 25 years of successfully serving small to medium-sized business, TriNet has experienced tremendous growth, culminating with its recent IPO. I am excited to be working with an impressive board of directors to help fuel TriNets growth.
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About TriNet
TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
Media Contacts:
Jock Breitwieser |
Michelle Sieling | |
TriNet |
Horn Group | |
Jock.Breitwieser@TriNet.com |
Michelle.Sieling@horngroup.com | |
(510) 875-7250 |
(415) 905-4013 |
TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.