SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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|Item 5.02|| |
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On April 19, 2021, each of Messrs. Navid Mahmoodzadegan and Jeff Raich, and Ms. Elizabeth Crain, members of the Board of Directors (the “Board”) of Moelis & Company (the “Company”), communicated to the Company their respective decisions to resign from the Board, effective immediately, in connection with the Company’s transition to a Board composed of a majority of independent directors, which satisfies the New York Stock Exchange’s (the “NYSE”) rules regarding director independence. Such resignations were not a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Each will continue in their positions as Co-Presidents and Chief Operating Officer, respectively. In addition, the Board made related changes to its committee composition such that each committee of the Board consists entirely of independent directors as of April 19, 2021.
The Company previously qualified as a “controlled company” for purposes of the NYSE rules, which exempted the Company from certain of the NYSE’s rules regarding director independence. However, the Company no longer qualified as a “controlled company” in February 2021. Although the Company had until February 2022 to fully comply with the independence requirements, as a result of the changes to the Board and its committees discussed above, as of April 19, 2021 the Board is in full compliance with the NYSE’s independence requirements.
|Item 9.01|| |
Financial Statements and Exhibits.
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.
|Moelis & Company.|
Dated: April 20, 2021