Current Report Filing (8-k)
April 09 2021 - 2:08PM
Edgar (US Regulatory)
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2021-04-07
2021-04-07
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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):
April 7, 2021
BARRETT BUSINESS SERVICES, INC.
(Exact name of registrant as specified in
charter)
Maryland
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0-21886
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52-0812977
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(IRS Employer Identification
No.)
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8100 N.E. Parkway Drive, Suite 200
Vancouver, Washington
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98662
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (360) 828-0700
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
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Trading
symbol(s)
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Name of each exchange on which
registered
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Common
Stock, par value $.01 per share
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BBSI
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The Nasdaq Stock Market LLC
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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.
(d) Effective April 7, 2021, the Board of Directors
(the "Board") of Barrett Business Services, Inc. (the "Company"), approved an increase in the number of positions
on the Board from eight to nine and appointed Carla A. Moradi to fill the vacancy resulting from the increase for a term expiring at the
Company's 2021 annual meeting of stockholders, at which time she is expected to stand for re-election. The Board also appointed Ms. Moradi
to serve as an additional member of the Risk Management Committee and the Audit and Compliance Committee, effective concurrently with
her appointment as a director.
Ms. Moradi will be compensated for her services
as a director consistent with the Company's standard practices for non-employee directors. The current applicable standard arrangements
provide for payment of an annual cash retainer of $60,000, payable in monthly installments. In addition, as a member of the Risk Management
Committee and the Audit and Compliance Committee, Ms. Moradi will receive additional annual cash retainers of $5,000 and $7,500, respectively.
Ms. Moradi also received an award of restricted stock units ("RSUs") relating to 245 shares of the Company’s common
stock effective on the date of her appointment as a director that will vest in full on July 1, 2021. Each RSU represents a contingent
right to receive one share. Outside directors also receive an annual award of RSUs as of July 1 of each year that vest in full one year
following the grant date.
There are no transactions in which Ms. Moradi has
an interest requiring disclosure under Item 404(a) of Regulation S-K. There are no family relationships between her and any other
executive officer or director of the Company. Other than the compensation arrangements described above, there is no arrangement or understanding
between Ms. Moradi and any other persons or entities pursuant to which Ms. Moradi was appointed as a director of the Company.
Item
7.01. Regulation FD Disclosure.
On April 9, 2021, the Company issued a press release
announcing Ms. Moradi’s appointment to the Board. The press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits: The following exhibit is furnished
with this Form 8-K:
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104.1
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Cover Page Interactive Data File (embedded within the Inline
XBRL document).
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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 thereunto duly authorized.
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BARRETT BUSINESS SERVICES, INC.
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Dated: April 9, 2021
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By:
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/s/ James R. Potts
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James R. Potts
Executive Vice President, General Counsel and Secretary
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