---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-008566"
form_type: "8-K"
ticker: "CPAY"
cik: "0001175454"
company_name: "CORPAY, INC."
filed_at: "2023-03-20T23:59:59+00:00"
generated_at: "2026-06-17T22:51:27.178814+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FLEETCOR enters cooperation with D.E. Shaw, appoints new director, initiates portfolio review

## Summary
- Appointed Rahul Gupta as independent director; agrees to add another mutually agreed director.
- Formed ad hoc Strategic Review Committee to consider separation or disposition of businesses.
- Portfolio review to be completed by end of 2023, complementing business simplification plan.
- D.E. Shaw agrees to standstill, voting commitments, and ownership limit of 7.5% through certain deadlines.
- Long-tenured director expected to retire upon addition of second new director.

## SEC filing metadata
- accession: 0001628280-23-008566
- form_type: 8-K
- ticker: CPAY
- cik: 0001175454
- company_name: CORPAY, INC.
- filed_at: 2023-03-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175454/000162828023008566/0001628280-23-008566-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175454/000162828023008566/flt-20230315.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-008566
- JSON: https://secwatch.observer/filing/0001628280-23-008566.json
- Plain text: https://secwatch.observer/filing/0001628280-23-008566.txt

## Key facts
- Executive change
  Rahul Gupta was appointed as independent director at CORPAY, INC..
  - Action: appointed
  - Role: independent director
  source text: On March 15, 2023, pursuant to the Cooperation Agreement, the Board appointed Mr. Gupta to serve as an independent director until the 2023 Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175454/000162828023008566/0001628280-23-008566-index.htm
- Material Agreements
  CORPAY, INC. entered into Cooperation Agreement with D.E. Shaw Oculus Portfolios, L.L.C. and D.E. Shaw Valence Portfolios, L.L.C. (effective 2023-03-15).
  - Action: entry
  - Counterparty: D.E. Shaw Oculus Portfolios, L.L.C. and D.E. Shaw Valence Portfolios, L.L.C.
  - Effective: 2023-03-15
  source text: On March 15, 2023, FLEETCOR Technologies, Inc. (the “Company”) entered into a Cooperation Agreement (the “Cooperation Agreement”) with D.E. Shaw Oculus Portfolios, L.L.C. and D.E. Shaw Valence Portfolios, L.L.C. (collectively, “D.E. Shaw”) regarding the election of members to the Company’s Board of Directors (the “Board”) and certain other matters.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175454/000162828023008566/0001628280-23-008566-index.htm

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