UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 8, 2023, Sabre Corporation (“Sabre”) approved David Moore’s ceasing to serve as Executive Vice President and Chief Technology Officer of Sabre, effective as of May 8, 2023. Mr. Moore’s last day of employment with Sabre is expected to be July 1, 2023. The termination of Mr. Moore’s employment is considered to be a qualifying termination (as defined under Sabre’s Executive Severance Plan), and in connection with the termination of his employment, Mr. Moore is eligible to receive payments for a termination without “cause” (as defined under the Executive Severance Plan) under the terms of the Executive Severance Plan as a Level 2 employee. As a result, Mr. Moore will be entitled to receive an amount equal to 150% of his current annual base salary and 110% of his target incentive opportunity for 2022, paid in installments over a period of 18 months following the date of termination. In addition, he will be entitled to continued medical, dental, and vision insurance coverage for him and his eligible dependents for the 18-month period following the date of termination, and senior executive level outplacement services for a period of one year; provided, however, that if he becomes re-employed and eligible to receive health insurance benefits under another employer-provided plan, the continued insurance coverage will terminate. The receipt of these items will be subject to Mr. Moore’s execution of a general release of liability against Sabre and will be subject to compliance with applicable post-termination restrictive covenants and other obligations.
| Item 8.01. | Other Events |
Garry Wiseman, Sabre’s Executive Vice President and Chief Product Officer, will also serve as interim Chief Technology Officer of Sabre, effective as of May 8, 2023.
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.
| Sabre Corporation | ||||||
| Dated: May 9, 2023 | By: | /s/ Shawn Williams | ||||
| Name: Title: |
Shawn Williams | |||||
| Executive Vice President and Chief People Officer | ||||||