8-K filed March 1, 2022, 6:59 PM ET ticker ADV CIK 0001776661

leadership confidence high sentiment neutral materiality 0.80

Advantage Solutions reports Q4 revenue up 21.4%, Announces CEO transition to Jill Griffin effective April 1, 2022

Advantage Solutions Inc.

Q4 2021 revenue $1,032.6M (+21.4% YoY); net income $28.0M vs loss of $152.2M; Adj. EBITDA $154.0M (+16.2%).
Full-year 2021 Adj. EBITDA $521.2M (+7.0%); FY2022 Adj. EBITDA guidance $490-510M, reflecting reinvestment.
CEO Tanya Domier to retire and become Executive Chair; Jill Griffin to succeed as CEO and join board effective April 1, 2022.
Griffin receives $1.1M base salary, 150% bonus target, and $6.5M equity grant; Domier gets $1.0M salary and $6.5M PSU.
Debt repricing: First Lien Term Loan rate reduced by 75 bps to Libor+4.50%, saving ~$10M annually.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Jill Griffin

Chief Executive Officer

ADV · Advantage Solutions Inc.

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

President and Chief Commercial Officer Jill Griffin will succeed Ms. Domier as the Company’s chief executive officer and will be named to the Company’s board of directors (the “Board”) as of such date.

Appointed

Tanya Domier

Executive Chair

ADV · Advantage Solutions Inc.

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

Ms. Domier will continue to serve the Company as the Board’s executive chair.

Appointed

Jill Griffin

Director

ADV · Advantage Solutions Inc.

Effective: 2022-04-01
Filed: March 1, 2022, 6:59 PM ET

the Board also approved an increase in the size of the Board from thirteen to fourteen directors and appointed Ms. Griffin as a director, each effective as of April 1, 2022.

Departed

Tanya Domier

Chief Executive Officer

ADV · Advantage Solutions Inc.

Effective: 2022-04-01
Successor: Jill Griffin
Filed: March 1, 2022, 6:59 PM ET

Tanya Domier, the Company’s current chief executive officer, will retire as chief executive officer effective April 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jill Griffin was appointed as Chief Executive Officer at Advantage Solutions Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

President and Chief Commercial Officer Jill Griffin will succeed Ms. Domier as the Company’s chief executive officer and will be named to the Company’s board of directors (the “Board”) as of such date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tanya Domier was appointed as Executive Chair at Advantage Solutions Inc..

Action: appointed
Role: Executive Chair

Exact text from the filing

Ms. Domier will continue to serve the Company as the Board’s executive chair.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Jill Griffin was appointed as Director at Advantage Solutions Inc..

Action: appointed
Role: Director

Exact text from the filing

the Board also approved an increase in the size of the Board from thirteen to fourteen directors and appointed Ms. Griffin as a director, each effective as of April 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Tanya Domier retired as Chief Executive Officer at Advantage Solutions Inc..

Action: retired
Role: Chief Executive Officer

Exact text from the filing

Tanya Domier, the Company’s current chief executive officer, will retire as chief executive officer effective April 1, 2022.

View on SEC.gov

Advantage Solutions Inc. filing history →

Source: SEC EDGAR

accession 0000947871-22-000311

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