SECURITIES AND EXCHANGE COMMISSION
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|Item 5.02.|| |
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 15, 2021, the Board of Directors (the “Board”) of BlackLine, Inc. (“BlackLine” or the “Company”) appointed Barbara Whye to serve as a member of the Board. Ms. Whye will serve in the class of directors whose term expires at the annual meeting of stockholders to be held in 2022.
Since November 2021, Ms. Whye has worked as Vice President of Inclusion & Diversity at Apple Inc. Before joining Apple, Ms. Whye spent 25 years with Intel Corporation, a semiconductor chip and technology company, in various roles including Business operations and Talent Manager, Internal Senior Business Consultant, Director of Global Strategic Initiatives, Director of Diversity in Technology Imitative, Director of Strategy and External Alliances and most recently, Chief Diversity and Inclusion Officer and Corporate Vice President of Social Impact. Ms. Whye holds a B.S. in electrical engineering from the University of South Carolina (USC) and holds an M.B.A. from USC’s Darla Moore School of Business.
In accordance with the Company’s amended and restated Outside Director Compensation Policy, the terms of which are described in the Company’s proxy statement for its 2021 annual meeting of stockholders, Ms. Whye is entitled to cash and equity compensation for service on the Board. Pursuant to the Outside Director Compensation Policy, as amended in 2019, Ms. Whye is entitled to $40,000 in annual cash compensation for service on the Board and an initial equity award with a grant date value of $185,000 multiplied by a fraction, (1) the numerator of which is (x) 12 minus (y) the number of full months between the date of the last annual meeting of stockholders and the date the individual becomes a member of the board and (2) the denominator of which is 12 (rounded to the nearest whole share). Ms. Whye will also enter into BlackLine’s standard form of indemnification agreement, which has been previously filed with the SEC.
There are no family relationships between Ms. Whye and any director or executive officer of the Company and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press Release issued by BlackLine, Inc., dated April 19, 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 hereunto duly authorized.
|Title:||Chief Financial Officer|
Date: April 19, 2021
GLOBALLY RECOGNIZED INCLUSION AND DIVERSITY EXECUTIVE BARBARA WHYE
JOINS BLACKLINE BOARD OF DIRECTORS
Named one of Fortunes 2020 Most Powerful Women in Business, Whye brings extensive experience
fostering inclusion and diversity in tech to guide the accounting automation software leader
LOS ANGELES April 19, 2021 BlackLine, Inc. (Nasdaq: BL) announced today that Barbara Whye has joined its board of directors effective April 15, 2021. Whye is the fourth female director on BlackLines board. A widely recognized inclusion and diversity leader and advocate for social change, Whye currently heads inclusion and diversity at Apple. She will draw on her experience of more than 25 years in the technology industry to help BlackLine as it strives to continuously evaluate, improve and expand its Environmental, Social and Governance (ESG) efforts, including, in particular, its Diversity, Equity and Inclusion (DEI) programs.
Diversity, equity and inclusion are deeply rooted in our core values in service of our global workforce, our customers and the communities in which we work and live, said BlackLine CEO and board member Marc Huffman. We look forward to Barbaras guidance as we advance a culture of inclusion that empowers employees to think, create and serve in a workplace where everyone truly feels they belong.
As vice president of inclusion and diversity at Apple, Whye is leading the companys commitment to build a more equitable and inclusive world. Previously, she was chief diversity and inclusion officer at Intel where she led a $300 million Diversity in Technology initiative that resulted in the chipmaker reaching full representation of women and underrepresented minorities in its U.S. workforce two years ahead of schedule. She was also responsible for Intels investments in programs that deliver positive global impact, including corporate social responsibility and sustainability initiatives and STEM (Science, Technology, Engineering and Mathematics) education portfolios with an emphasis on girls and underserved populations. Whye began her career as an electrical engineer and has since held numerous positions, including leadership and project engineering roles with BellSouth and NCR.
I am honored by the opportunity to join the BlackLine board and excited to contribute to the continued growth of this extraordinary company that has emerged as the leader in modern accounting, said Whye. I find BlackLine truly committed to driving excellence and its leaderships unwavering focus on innovation, collaboration, inclusion and customer success is unmatched.
Whye has been the recipient of multiple industry awards, including Fortunes 2020 list of the Most Powerful Women in Business, a 2019 Black Enterprise Most Powerful Women in Corporate Diversity award and a 2019 Most Influential Women in Corporate America award. She holds a bachelor of science degree in electrical engineering from the University of South Carolina and an MBA from the Universitys Darla Moore School of Business.
Barbara is a powerful force for positive social change, said Therese Tucker, BlackLines founder and executive board chair. She shares my passion and commitment to advocate for diversity, equity and inclusion in technology and leadership.
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting processes are not sustainable. BlackLines cloud-based solutions and market-leading customer service help companies move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility. BlackLine provides solutions to manage and automate financial close, accounts receivable and intercompany accounting processes, helping large enterprises and midsize companies across all industries do accounting work better, faster and with more control.
More than 3,400 customers trust BlackLine to help them close faster with complete and accurate results. The company is the pioneer of the cloud financial close market and recognized as the leader by customers at leading end-user review sites including Gartner Peer Insights, G2 and TrustRadius. Based in Los Angeles, BlackLine also has regional headquarters in London, Singapore and Sydney. For more information, please visit blackline.com.
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