UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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. |
Upon the recommendation of its Nominating and Governance Committee, the Board of Directors (the “Board”) of BlackLine, Inc. (the “Company”) appointed William R. Wagner to serve as a member of the Board, effective October 2, 2023. Mr. Wagner will serve in the class of directors whose term expires at the Company’s annual meeting of stockholders to be held in 2024.
Mr. Wagner served as President and CEO of LogMeIn from 2015 to 2022, and previously served as President and Chief Operating Officer of LogMeIn from 2013 to 2015. Mr. Wagner also served as Chief Operating Officer of Vocus from 2010 to 2012, and as Vocus’s Chief Marketing Officer from 2006 to 2010. Mr. Wagner holds a B.A. in History from Lafayette College, and an M.B.A from the Wharton School at the University of Pennsylvania.
In accordance with the Company’s amended and restated Outside Director Compensation Policy, Mr. Wagner is entitled to $40,000 in annual cash compensation for his service on the Board, as well as 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 our last annual stockholder meeting and the date Mr. Wagner becomes a member of the Board and (2) the denominator of which is 12 (rounded to the nearest whole share). Mr. Wagner will also enter into BlackLine’s standard form of indemnification agreement, which was previously filed with the Securities and Exchange Commission.
There are no family relationships between Mr. Wagner and any director or executive officer of the Company, and Mr. Wagner 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. |
| Exhibit Number |
Description | |
| 99.1 | Press Release issued by BlackLine, Inc., dated October 2, 2023 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
1
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.
| BLACKLINE, INC. | ||||||
| Date: October 2, 2023 | By: | /s/ Karole Morgan-Prager | ||||
| Karole Morgan-Prager | ||||||
| Chief Legal and Administrative Officer | ||||||
2
Exhibit 99.1
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For Immediate Release |
William ‘Bill’ Wagner Joins BlackLine Board of Directors
Former LogMeIn CEO brings extensive cloud, technology, and marketing expertise
to help guide digital finance transformation leader
LOS ANGELES – Oct. 2, 2023 – BlackLine, Inc. (Nasdaq: BL) announced today that William ‘Bill’ Wagner has joined the digital finance transformation leader’s board of directors, effective Oct. 2nd, 2023. A cloud, technology, and marketing industry veteran, Wagner will draw on his more than 20 years of experience building dynamic SaaS companies into market category leaders to support BlackLine’s growth trajectory, help extend its market leadership, and elevate its position within the Office of the CFO.
“Bill brings a wealth of expertise to BlackLine’s board having helped several innovative industry leaders build their brands into dominant forces,” said BlackLine Co-CEO and Board Chair Owen Ryan. “I’m confident the leadership, experience, and knowledge he brings to the table will help guide BlackLine as we further accelerate growth and continue to meet the evolving needs of our customers as they embark on their digital finance transformation journeys.”
Wagner is the former president and CEO of GoTo (formerly LogMeIn, Inc.), one of the world’s top SaaS companies, with more than two million customers and over $1 billion in annual revenue prior to its transition in 2020 from a publicly traded company to being privately held. He joined as LogMeIn’s first chief operating officer and played a pivotal role in accelerating growth and positioning the company as a market leader.
Wagner was previously chief operating officer at Vocus, a cloud-marketing software company, where he led the sales, marketing, and services organizations. Prior to that, he held several executive leadership roles, including chief marketing officer at the leading enterprise mobile device management company Fiberlink (acquired by IBM). He began his career at AT&T.
“BlackLine’s leadership team is acutely focused on innovation and customer success which reinforces and expands BlackLine’s leadership in the digital finance transformation space,” said Wagner. “I’m looking forward to working with the other board members and the BlackLine team as the company continues to elevate its position within the Office of the CFO while driving long-term, profitable growth.”
Wagner also serves on the boards of Akamai Technologies, Avery Dennison, Semrush Holdings, and ChurnZero. He holds a Bachelor of Arts degree in History from Lafayette College and an MBA from the Wharton School at the University of Pennsylvania.
About BlackLine
Companies come to BlackLine (Nasdaq: BL) because their traditional manual accounting processes are not sustainable. BlackLine’s cloud-based financial operations management platform 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 4,200 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 G2 and TrustRadius. BlackLine is a global company with operations in Los Angeles, New York, the San Francisco Bay area, London, Paris, Frankfurt, Tokyo, Singapore, and Sydney. For more information, please visit blackline.com.
# # #
Media Contact:
Ashley Dyer
PR Director
BlackLine
818-936-7166
ashley.dyer@blackline.com
BlackLine Forward-looking Statements
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “would,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. Forward-looking statements in this release include statements regarding our growth plans and opportunities.
Any forward-looking statements contained in this press release are based upon BlackLine’s current plans, estimates and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith beliefs and assumptions as of that time with respect to future events and are subject to risks and uncertainties. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, risks related to the Company’s ability to execute on its strategies, attract new customers, enter new geographies and develop, release and sell new features and solutions; and other risks and uncertainties described in the other filings we make with the Securities and Exchange Commission from time to time, including the risks described under the heading “Risk Factors” in our Annual Report on Form 10-K. Additional information will also be set forth in our Quarterly Reports on Form 10-Q.
Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.