LENDINGTREE, INC. : Change in Directors or Principal Officers (form 8-K)

Published: 2022-01-19 08:00:07 ET TREE

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

On January 18, 2022, LendingTree, Inc. (the "Company") announced that J.D. Moriarty will transition into the role of Chief Operating Officer, LendingTree, and President, LendingTree Marketplace, on February 1, 2022, and that Neil Salvage will be leaving the Company, as of January 31, 2022. This announcement is more fully described in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K.

Biographical Information for J.D. Moriarty

Mr. Moriarty, age 49, will transition to his new role from his current role as President, LendingTree Next, a position he has held since May 2021. From August 2017 to May 2021, Mr. Moriarty served as the Company's Chief Financial Officer, and from June 2017 to August 2017, Mr. Moriarty served as the Company's Senior Vice President for Corporate Development, responsible for strategic acquisitions.

Separation Agreement with Neil Salvage

Mr. Salvage will be leaving his role as President, LendingTree Marketplace and the Company, and his employment will be terminated without cause, as of January 31, 2022. In connection with Mr. Salvage's departure, he will receive the payments and benefits under the Company's Executive Severance Pay Plan (the "Plan"), subject to the terms and conditions of the Plan, including without limitation his signing of an effective general release and waiver of claims (the "Release") and compliance with the terms of the Release and his restrictive covenant obligations owed to the Company. In addition, for his contributions to the Company during 2021 and in light of the timing of his termination, Mr. Salvage will receive a bonus of $292,500, subject to his signing a separation agreement containing the Release.