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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) Appointment of New Director
On August 23, 2021, the Board of Directors of Dine Brands Global, Inc. (the “Corporation”), acting pursuant to the authority granted to it by the Corporation’s Amended and Restated Bylaws, increased the size of the Board of Directors from ten to eleven directors. Also on August 23, 2021, the Board of Directors appointed Martha C. Poulter as a director of the Corporation and as a member of the Audit Committee, in each case effective as of September 1, 2021. Ms. Poulter is an independent director who will serve with a term expiring at the Corporation’s 2022 annual meeting of stockholders.
Ms. Poulter has served as the Senior Vice President and Chief Information Officer at Royal Caribbean Group, a global cruise company, since 2018. Previously, Ms. Poulter served as the Executive Vice President and Chief Information Officer of Starwood Hotels & Resorts Worldwide from 2014 to 2016. From 1995 to 2014, Ms. Poulter served in numerous roles at General Electric Corporation, including Chief Information Officer, GE Capital, from 2010 to 2014.
Ms. Poulter will participate in the Corporation’s standard non-employee director compensation arrangements under which she will receive an annual board retainer of $70,000, additional annual committee retainers for serving on committees of the Board of Directors and an annual equity award targeted at $105,000 in value. In connection with her appointment to the Board of Directors, Ms. Poulter will also receive an initial prorated equity award targeted at $35,000 that will cliff vest in full one year from the date of grant and settle in shares of common stock.
There are no transactions between Ms. Poulter (or any member of her immediate family) and the Corporation (or any of its subsidiaries), and there is no arrangement or understanding between Ms. Poulter and any other persons or entities pursuant to which Ms. Poulter was appointed as a director of the Corporation.
The Corporation issued a press release announcing the appointment of Ms. Poulter to the Board of Directors. The full text of the press release is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
Item 9.01. Financial Statements and Exhibits.
|99.1||Press Release announcing appointment of new director dated August 26, 2021|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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.
|Date: August 26, 2021||DINE BRANDS GLOBAL, INC.|
Christine K. Son
Senior Vice President, Legal, General Counsel and Secretary
Vice President, Communications
Dine Brands Global, Inc.
Executive Director, IR
Dine Brands Global, Inc.
Dine Brands Global, Inc. Appoints Martha C. Poulter
as Member of Board of Directors
GLENDALE, Calif., August 26, 2021 The Board of Directors of Dine Brands Global, Inc. today announced the appointment of Martha C. Poulter as a new independent member of its Board of Directors.
Poulter, 54, serves as Senior Vice President and Chief Information Officer, Royal Caribbean Group, a role she has held since 2018.
Prior to Royal Caribbean Group, Poulter served as Executive Vice President and Chief Information Officer at Starwood Hotels and Resorts Worldwide, Inc., where she was the lead architect of their guest-facing technology strategy and guest experiences.
Earlier in her career, Poulter served in numerous leadership positions with General Electric Company, most recently as Vice President and Chief Information Officer for GE Capital.
Martha is a well-respected Fortune 500 CIO with 32 years of experience in complex, global IT consumer-focused industries; leading corporate transformational changes that capture market share and embrace technology for competitive advantage, says Richard Dahl, Chairman of the Board of Directors, Dine Brands Global, Inc.
The Board of Directors, Dine, and our Brands will benefit greatly from Marthas experience and worldview, which extend from strategy to operations and encompass a strong understanding of managing outcomes and driving technology and business innovation. Moreover, Marthas appointment as a member of our Board is further action on our part towards our investments in a technology-driven future for our franchisees and our brands.
About Dine Brands Global, Inc.
Based in Glendale, California, Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebees Neighborhood Grill + Bar and IHOP brands. With approximately 3,450 restaurants combined in 16 countries and approximately 350 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Companys website located at www.dinebrands.com.