SECURITIES AND EXCHANGE COMMISSION
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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 June 1, 2021, the Board of Directors of Zix Corporation (“Zix” or the “Company”) appointed Shirley Devlin-Lebow to the position of Chief Accounting Officer of Zix.
Ms. Devlin-Lebow, age 47, served as Vice President of Accounting at RealPage, Inc. from September 2018 through May 2021. Prior to joining RealPage, she served as Director of Financial Reporting and Technical Accounting at Forterra, Inc. from March 2015 to July 2018 and as Director of Technical Accounting at Weatherford International, plc from February 2014 to March 2015. Ms. Devlin-Lebow holds a Bachelor of Business Administration in Accounting and a Master of Science in Accounting from Texas A&M University. She is also a certified public accountant in the State of Texas.
Ms. Devlin-Lebow’s annual base salary will be $220,000 and her annual incentive bonus target under Zix’s 2021 Variable Compensation Plan will be $55,000. In addition, Ms. Devlin-Lebow will be granted 25,000 restricted shares of Company Common Stock. The restricted shares will vest in equal annual increments over four years, subject to Ms. Devlin-Lebow’s continued employment through the applicable vesting dates.
In connection with Ms. Devlin-Lebow’s appointment, Zix and Ms. Devlin-Lebow entered into an Indemnity Agreement, effective as of June 1, 2021 (the “Indemnity Agreement”). Under the Indemnity Agreement, which is based on the form entered into by Zix with its other officers, Ms. Devlin-Lebow is entitled, to the fullest extent permitted by applicable law, to be indemnified by, and to receive advancement of certain expenses from, Zix in connection with certain claims and causes of action that could be asserted against her as a result of her status as an officer of Zix.
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.
|Dated: June 4, 2021||ZIX CORPORATION|
|Title:||Chief Legal Officer|