secwatch.observer — SEC 8-K summary
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Issuer:     Advantage Solutions Inc. (ADV)
CIK:        0001776661
Form:       8-K
Filed at:   2022-03-01T23:59:59+00:00
Accession:  0000947871-22-000311
Event type: leadership
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1776661/000094787122000311/0000947871-22-000311-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1776661/000094787122000311/ss832426_8k.htm
  HTML page:      https://secwatch.observer/filing/0000947871-22-000311

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer