Current Report Filing (8-k)
August 31 2018 - 4:34PM
Edgar (US Regulatory)
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): August 31, 2018
Party City Holdco Inc.
(Exact name of registrant as specified in its charter)
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Delaware
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001-37344
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46-0539758
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(State or other jurisdiction
of incorporation)
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(Commission
file number)
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(I.R.S. Employer
Identification Number)
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80 Grasslands Road
Elmsford, New York
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10523
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(Address of principal executive offices)
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(Zip code)
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Registrants telephone number, including area code: (914)
345-2020
Not Applicable
(Former name or former address, if changed since last report)
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:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
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☐
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Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging growth company as defined in 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
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
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Effective as of August 31, 2018 (the Separation Date), Gregg
Melnicks employment as President of Party City Holdco Inc. (the Company) ended. In connection with his separation of employment, Mr.
Melnick entered into a separation agreement with the Company (the Separation
Agreement).
Pursuant to the Separation Agreement, Mr. Melnick will receive (i)
base salary continuation through
January
31, 2019 and (ii)
an amount equal to
two-thirds
(2/3) of the amount that would be payable to Mr.
Melnick under the Companys annual bonus plan for 2018, payable
in a lump sum in accordance with the bonus plan. In addition, the options to purchase common stock of the Company held by Mr.
Melnick that are vested as of the Separation Date will remain outstanding and exercisable until
April
1, 2019.
The Separation Agreement includes certain restrictions on competition, solicitation of persons having business relationships
with the Company and hiring of employees, which will continue through January
30, 2020, and with respect to disclosure of the Companys confidential information and also includes a release of claims in favor of the Company, its
affiliates and certain other persons.
The Separation Agreement will be filed with the Companys next quarterly report on Form
10-Q.
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.
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PARTY CITY HOLDCO INC.
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By:
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/s/ Daniel J. Sullivan
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Name:
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Daniel J. Sullivan
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Title:
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Chief Financial Officer
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Date: August 31, 2018
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