SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report Pursuant to Section
13 or 15(d) of
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Section 2 – Financial Information
Item 5.02 Departure of Directors or Certain Ofﬁcers; Election of Directors; Appointment of Certain Ofﬁcers; Compensatory Arrangements of Certain Ofﬁcers.
On December 15, 2021, Dave & Buster’s Entertainment, Inc. (the “Company”) announced that Michael Quartieri was appointed as Chief Financial Officer of the Company effective January 1, 2022.
Mr. Quartieri, 53, previously served as Chief Financial Officer, Executive Vice President and Secretary of LiveOne, Inc. from November 2020 until December 2021. Prior to his tenure at LiveOne, Inc., Mr. Quartieri served as Executive Vice President, Chief Financial Officer, Treasurer and Secretary at Scientific Games from November 2015 until June 2020. Prior to that Mr. Quartieri spent nine years with Las Vegas Sands Corp. in multiple roles ending as Senior Vice President, Chief Accounting Officer and Global Controller, and 13 years at Deloitte & Touche. Mr. Quartieri has a Masters in Accounting and BS in Accounting from the University of Southern California and is a Certified Public Accountant. He also brings extensive experience in digital entertainment, gaming and hospitality.
Mr. Quartieri will receive an initial annual base salary of $500,000 and will be eligible to receive an annual bonus which is set at 80% of base salary at target level, a sign-on bonus of $300,000 of restricted stock units and an annual perquisite allowance of $25,000. He will also be eligible to participate in the Company’s long-term incentive plan. Mr. Quartieri will enter into an employment agreement with the Company setting forth these terms as well as customary restrictive covenants, including non-compete, non-solicit and not-hire and confidentiality covenants. The foregoing description of Mr. Quartieri’s employment agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, which will be filed as an exhibit to a subsequent periodic report filed with the U.S. Securities and Exchange Commission.
On December 15, 2021, the Company issued a press release announcing this development. A copy of the press release is furnished herewith as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits
|99.1||Press release dated December 15, 2021.|
|104||Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).|
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.
|DAVE & BUSTER’S ENTERTAINMENT, INC.|
|Date: December 15, 2021||By:||/s/ Robert W. Edmund|
|Robert W. Edmund|
|General Counsel, Secretary and |
Senior Vice President of Human Resources
Dave & Buster’s Appoints New Chief Financial Officer
DALLAS, December 15, 2021 (GLOBE NEWSWIRE) – Dave & Buster's Entertainment, Inc., (NASDAQ:PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced that it has appointed Michael Quartieri as Chief Financial Officer.
Mr. Quartieri will join Dave & Busters as Chief Financial Officer starting January 1, 2022. Mr. Quartieri was previously Chief Financial Officer and Corporate Secretary at LiveOne, (NASDAQ:LVO) a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture. Prior to that, Mr. Quartieri was Chief Financial Officer, Treasurer, and Corporate Secretary at Scientific Games a provider of gaming products, systems, and services to the lottery and pari-mutuel industries. Mr. Quartieri will lead Dave & Buster’s finance, accounting and supply chain organizations, as well as oversee the company’s investor relations function.
Kevin Sheehan, Chairman of the Board and Interim CEO, said “Michael joins us at a great time. We have a renewed sense of urgency to bring even more fun to our guests, grow our business and create amazing opportunities for our team members. Our momentum is building. Michael’s financial expertise, strong track record for growth and engaging style will no doubt help to fuel our momentum, and we are excited to welcome him to our team.”
“I am incredibly excited to be joining Dave & Buster’s,” said Michael Quartieri. “I look forward to adding my expertise to the talented group of team members throughout the organization. I see tremendous opportunity at Dave & Buster’s and am pleased to help lead the Company’s next phase of growth.”
About Dave & Buster’s Entertainment, Inc.
Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 144 venues in North America that combine entertainment and dining and offer customers the opportunity to “Eat Drink Play and Watch,” all in one location. Dave & Buster’s offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster’s currently has stores in 40 states, Puerto Rico, and Canada.
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