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8-K
EQUINIX INC filed this Form 8-K on 09/12/2018
Entire Document
 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

 

Date of Report (date of earliest event reported): September 12, 2018

 

EQUINIX, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

(State or Other Jurisdiction
of Incorporation)

000-31293

(Commission File Number)

77-0487526

(I.R.S. Employer
Identification Number)

 

 

One Lagoon Drive

Redwood City, California 94065

(650) 598-6000

(Addresses of principal executive offices)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 


Item 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On September 12, 2018, Peter Van Camp, interim Chief Executive Officer and President and Executive Chairman of the Board of Directors (the “Board”) of Equinix, Inc. (“Equinix”), resigned from the positions of interim Chief Executive Officer and President with Equinix. The Board accepted Mr. Van Camp’s resignation on September 12, 2018. Mr. Van Camp will continue to serve as the Board’s Executive Chairman.

 

On September 12, 2018, the Board elected Charles Meyers, age 52, as Chief Executive Officer and President. Mr. Meyers was also elected as a director to the Equinix Board, effective September 12, 2018. With the election of Mr. Meyers, Equinix’s Board now consists of nine members. Mr. Meyers will also serve as a member of the Board’s Stock Award Committee.

 

Mr. Meyers joined Equinix in 2010, and prior to his appointment as Chief Executive Officer and President, led the strategic business teams that drive company growth by focusing on the future needs of customers and partners as President, Strategy, Services and Innovation. Mr. Meyers also served as the Chief Operating Officer of Equinix from 2013-2017 and as President, Equinix Americas from 2010-2013.

 

There are no transactions between Mr. Meyers and Equinix that would be reportable under Item 404(a) of Regulation S-K.

 

On September 12, 2018 (the “Grant Date”), in connection with the election of Mr. Meyers as Chief Executive Officer and President, the Compensation Committee approved the following compensation package for Mr. Meyers: a base salary of $1,000,000, a target bonus under the Annual Incentive Plan and 2018 Award Agreement of up to 130% of his new base salary, pro-rated to reflect his service for 2018, and a grant of 11,567 restricted stock units (“RSUs”) of the Company’s Common Stock under the 2000 Equity Incentive Plan (the “Equity Plan”) and the applicable form of award agreement (the “Agreement”). The RSUs are subject to forfeiture in the event that Mr. Meyers’s Service (as defined in the Agreement) with the Company terminates before the shares vest, measured from the Grant Date as follows: 16.667% of the RSUs shall vest on March 1, 2019 and an additional 16.667% of the RSUs shall vest on each September 1st and March 1st thereafter until fully vested. The RSUs provide for acceleration of 50% of the unvested shares subject to such award in the event that Mr. Meyers is subject to a Qualifying Termination within 12 months after a Change in Control (as such terms are defined in the Agreement or the Equity Plan). Mr. Meyers will also receive relocation assistance for any relocation in an amount of up to $150,000. As a member of Equinix’s Board, Mr. Meyers will receive no additional compensation.

 

A copy of the Company's press release regarding these events is being furnished as Exhibit 99.1 to this 8-K.

 

 

 

 

Item 9.01.Financial Statements and Exhibits

 

(d)Exhibits

 

Exhibit    
No.   Description
     
99.1   Press Release issued by Equinix on September 12, 2018.

 

 

 

 

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.

 

 

 

EQUINIX, INC.

   
   

DATE: September 12, 2018

By:

/s/ Keith D. Taylor 

   

Keith D. Taylor

Chief Financial Officer

 

 

 

 

EXHIBIT INDEX

 

 

  Exhibit  
  Number Description
     
  99.1 Press Release issued by Equinix on September 12, 2018.

 

 

 

Equinix Names Charles Meyers President And Chief Executive Officer

REDWOOD CITY, Calif., Sept. 12, 2018 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that its Board of Directors has appointed Charles Meyers to the position of President and Chief Executive Officer, effective immediately. Meyers will also join Equinix's Board of Directors. He succeeds Peter Van Camp, who has served as interim CEO since January 2018. Van Camp will resume his role as Executive Chairman of the Equinix Board of Directors.

"Charles is an outstanding leader who has been a major contributor to Equinix's success over the past eight years, playing critical roles in the company as we have quadrupled in size, growing from $1.2B in revenue to the $5B plus we expect to generate this year," said Peter Van Camp, Executive Chairman for Equinix. "Charles brings that rare combination of a world-class operator combined with a passion and drive for strategic innovation. These characteristics, and his proven track record of delivering value for our customers and our shareholders, make him an excellent choice to successfully implement our strategy and take advantage of the market opportunities ahead."

Meyers has a distinguished 25-year career in the technology industry including a number of executive leadership positions at leading telecommunications and information tehnology companies. Meyers joined Equinix in 2010 as President, Americas, leading the company's largest operating region through a time of significant growth and strong operating performance. In 2013, he was appointed Chief Operating Officer at Equinix, where he spearheaded our drive for global consistency, leading the Global Sales, Marketing, Operations and Customer Success teams. For the past year, he has served as President of Strategy, Services and Innovation (SSI), where he oversaw our product organization and led the technology, strategy and business development teams driving the company's next phase of growth and focusing on the future needs of customers and partners.

"I joined Equinix eight years ago to be part of a company with exceptional opportunity and a phenomenal team of employees and I am incredibly honored and thrilled to now serve the company in the role of CEO," said Meyers. "I look forward to partnering with my over 7,500 colleagues around the globe in service to our customers and partners as we expand our unmatched ability to help organizations drive their digital transformation agendas. The opportunity that lies ahead for Equinix is enormous and I am committed to driving our innovation, strategy and execution to become the trusted center of a cloud-first world."

About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

Forward-Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, unanticipated costs or difficulties relating to the integration of companies or new ventures we have acquired or will acquire into the Equinix platform; the challenges of acquiring, operating and constructing IBX data centers and developing, deploying and delivering Equinix services; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.

Equinix.



CONTACT: Equinix Press Contacts: David Fonkalsrud, +1 (650) 598-6240, dfonkalsrud@equinix.com; Michelle Lindeman, +1 (650) 598-6361, mlindeman@equinix.com; Equinix Investor Relations Contacts: Katrina Rymill, +1 (650) 598-6583, krymill@equinix.com; Chip Newcom, +1 (650) 598-6262, cnewcom@equinix.com