SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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|(Nasdaq Global Select Market)|
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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.
On August 14, 2020, the board of directors of Cornerstone OnDemand, Inc. (the “Company”) appointed Trish Coughlin as interim Chief Financial Officer and principal financial officer, effective August 14, 2020. Ms. Coughlin will continue to serve as Chief Accounting Officer and principal accounting officer. On July 17, 2020, the Company announced the resignation of Brian L. Swartz from his position as Chief Financial Officer, effective August 14, 2020.
Trish Coughlin, age 50, has served as our Chief Accounting Officer since January 2019. From March 2013 to January 2019, Ms. Coughlin served as Corporate Controller of Workday, Inc., a provider of enterprise cloud applications for finance, HR, and planning. From August 2003 to March 2013, Ms. Coughlin served in various positions at the Goldman Sachs Group, Inc., including as Managing Director. Ms. Coughlin holds a B.S. in Accounting and a B.A. in International Relations from Lehigh University.
While serving as interim Chief Financial Officer, Ms. Coughlin will continue to receive her annual salary, plus a monthly stipend of $5,000. In addition, Ms. Coughlin will be entitled to receive a bonus under the Company’s executive compensation plan for fiscal year 2020 based on a target bonus amount of $143,480. In connection with her appointment, Ms. Coughlin was also awarded a new restricted stock award for 6,792 shares of Common Stock subject to time-based vesting over four years.
There are no arrangements or understandings between Ms. Coughlin and any other persons pursuant to which she was selected as interim Chief Financial Officer. There are also no family relationships between Ms. Coughlin 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.
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.
|Cornerstone OnDemand, Inc.|
Chief Administrative Officer & General Counsel
Date: August 19, 2020