UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
|
|
|
| ||
| (State or other jurisdiction of incorporation) |
(Commission File No.) | (I.R.S. Employer Identification No.) |
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code:
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:
Securities registered pursuant to Section 12(b) of the Act:
| (Title of Each Class) |
(Trading Symbol) |
(Name of Each Exchange on which Registered) | ||
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 June 12, 2023, Viasat, Inc. (“Viasat”) received notice from Richard Baldridge, Viasat’s Vice Chairman, of his intention to retire from Viasat after nearly 25 years of service, effective June 30, 2023. Mr. Baldridge will continue to serve as a member of Viasat’s board of directors.
A copy of the press release issued by Viasat on June 14, 2023 announcing the retirement of Mr. Baldridge is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Description of Exhibit | |
| 99.1 | Press Release, dated June 14, 2023, issued by Viasat, Inc. | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |
2
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.
| Date: June 14, 2023 | VIASAT, INC. | |||
| By: | /s/ Brett Church | |||
| Name: | Brett Church | |||
| Title: | Associate General Counsel | |||
3
Exhibit 99.1
Viasat Announces Retirement of Vice Chairman Rick Baldridge
Decision follows Viasat’s acquisition of Inmarsat
CARLSBAD., Calif., June 14, 2023 – Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, announced today that Rick Baldridge will be retiring from his role as Vice Chairman, effective June 30, 2023, and will remain a member of the Board of Directors. The announcement comes following a successful close of Viasat’s acquisition of Inmarsat, a deal Baldridge led for the last two years.
Baldridge joined Viasat in 1999, and has served in senior executive roles including Executive Vice President and Chief Operating Officer from 2002, and as President and Chief Operating Officer from 2003. He was appointed President and Chief Executive Officer in November 2020 and assumed the role of Vice Chairman in July 2022.
“In his more than 20-year career with Viasat, Rick has been integral to the evolution of the company—supporting our approximately 50x revenue growth from a subsystems technology manufacturer to a global industry leader in satellite communications services, systems solutions, and space and ground products,” said Mark Dankberg, chairman and CEO, Viasat. “His leadership and personal involvement in the Link-16 divestiture and the Inmarsat acquisition were just the most recent examples of the many contributions he’s made to our growth. All of us at Viasat are grateful for his dedication, insight and leadership, and we are very pleased that he will continue his service with the company as a member of our board of directors.”
“I am so proud to have worked alongside the incredibly talented employees at Viasat for the last 24+ years,” said Baldridge. “It has been my privilege to have worked with the three cofounders to further a culture of innovation and meritocracy. It is bitter-sweet as although we have grown a great company, the best is yet to come. I look forward, as a member of the board, to continuing to see the fruits of the combination of the ViaSat-3 constellation and the integration with Inmarsat come together to benefit our employees, customers across the globe and shareholders. Together we can make a huge difference in people’s lives through education, healthcare, and local commerce.”
About Viasat
Viasat is a global communications company that believes everyone and everything in the world can be connected. With offices in 24 countries around the world, our mission shapes how consumers, businesses, governments and militaries around the world communicate and connect. Viasat is developing the ultimate global communications network to power high-quality, reliable, secure, affordable, fast connections to positively impact people’s lives anywhere they are—on the ground, in the air or at sea, while building a sustainable future in space. On May 30, 2023, Viasat completed its acquisition of Inmarsat, combining the teams, technologies and resources of the two companies to create a new global communications partner. Learn more at www.viasat.com, the Viasat News Room or follow us on Facebook, Instagram, LinkedIn, Twitter or YouTube.
Copyright © 2023 Viasat, Inc. All rights reserved. Viasat, the Viasat logo and the Viasat signal are registered trademarks of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Viasat, Inc. Contacts
Deb Green – Corporate, +1 (678) 395-0122, PR@viasat.com
Paul Froelich/Peter Lopez, Investor Relations, +1 (760) 476-2633, IR@viasat.com