---
schema_version: "secwatch.filing_event.v1"
accession: "0001101215-21-000188"
form_type: "8-K"
ticker: "BFH"
cik: "0001101215"
company_name: "BREAD FINANCIAL HOLDINGS, INC."
filed_at: "2021-11-08T23:59:59+00:00"
generated_at: "2026-06-28T11:15:53.340761+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alliance Data completes spinoff of LoyaltyOne segment; retains 19% stake

## Summary
- Separation of LoyaltyOne (AIR MILES, BrandLoyalty) into independent Loyalty Ventures Inc. completed Nov. 5, 2021.
- ADS stockholders received 1 share of LYLT for every 2.5 ADS shares held on Oct. 27, 2021 record date.
- Loyalty Ventures begins trading on Nasdaq under ticker LYLT; ADS retains 19% ownership and plans tax-efficient divestiture.
- J. Bryan Campbell appointed SVP and Chief Accounting Officer (effective Nov. 8, 2021), succeeding Laura Santillan.
- ADS says spinoff simplifies business model, focuses on Card Services growth.

## SEC filing metadata
- accession: 0001101215-21-000188
- form_type: 8-K
- ticker: BFH
- cik: 0001101215
- company_name: BREAD FINANCIAL HOLDINGS, INC.
- filed_at: 2021-11-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1101215/000110121521000188/0001101215-21-000188-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1101215/000110121521000188/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001101215-21-000188
- JSON: https://secwatch.observer/filing/0001101215-21-000188.json
- Plain text: https://secwatch.observer/filing/0001101215-21-000188.txt

## Key facts
- Executive change
  J. Bryan Campbell was appointed as Senior Vice President and Chief Accounting Officer at BREAD FINANCIAL HOLDINGS, INC..
  - Action: appointed
  - Role: Senior Vice President and Chief Accounting Officer
  source text: appointed J. Bryan Campbell as Senior Vice President and Chief Accounting Officer of ADS, effective November 8, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101215/000110121521000188/0001101215-21-000188-index.htm
- Executive change
  Laura Santillan departed as Senior Vice President and Chief Accounting Officer at BREAD FINANCIAL HOLDINGS, INC..
  - Action: succeeded
  - Role: Senior Vice President and Chief Accounting Officer
  source text: Mr. Campbell will succeed Laura Santillan, who, in connection with the Separation, has become Senior Vice President and Chief Accounting Officer of Loyalty Ventures.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101215/000110121521000188/0001101215-21-000188-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.