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[8-K] Frontdoor, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Item 5.02 – Executive transition. Frontdoor (FTDR) disclosed that Vice President, Controller & Chief Accounting Officer (CAO) Chastitie Brim will retire on 24 Aug 2025 and stay on as adviser through 15 Sep 2025. The board simultaneously appointed Sally J. Shanks, former CAO of WillScot Holdings (Nasdaq: WSC), to assume the same roles effective 25 Aug 2025, supporting a seamless hand-over.

Experience & pay. Shanks, 48, oversaw accounting, reporting and tax at WillScot since 2017 and previously held senior finance posts at Merkle and Laureate after starting at PwC. Her compensation package includes: (i) $395 k base salary, (ii) 50 % target annual cash bonus, (iii) $100 k sign-on RSUs vesting over two years, plus eligibility for future annual equity awards and executive severance coverage.

The company emphasized that Brim’s departure is voluntary and unrelated to any policy or reporting dispute. The 8-K contains no financial metrics, outlook changes or other material events.

Voce 5.02 – Transizione esecutiva. Frontdoor (FTDR) ha comunicato che la Vicepresidente, Controller e Chief Accounting Officer (CAO) Chastitie Brim andrà in pensione il 24 agosto 2025, rimanendo consulente fino al 15 settembre 2025. Il consiglio ha contestualmente nominato Sally J. Shanks, ex CAO di WillScot Holdings (Nasdaq: WSC), per assumere gli stessi ruoli a partire dal 25 agosto 2025, garantendo un passaggio di consegne fluido.

Esperienza e compenso. Shanks, 48 anni, ha supervisionato contabilità, rendicontazione e fiscalità in WillScot dal 2017 e in precedenza ha ricoperto ruoli senior in ambito finanziario presso Merkle e Laureate, dopo aver iniziato la carriera in PwC. Il suo pacchetto retributivo comprende: (i) uno stipendio base di 395.000 dollari, (ii) un bonus annuale in contanti pari al 50% del target, (iii) 100.000 dollari in RSU di benvenuto con maturazione in due anni, oltre all’idoneità per futuri premi azionari annuali e copertura per indennità esecutiva.

L’azienda ha sottolineato che l’uscita di Brim è volontaria e non collegata a controversie su politiche o rendicontazioni. Il modulo 8-K non riporta metriche finanziarie, cambiamenti nelle previsioni o altri eventi rilevanti.

Artículo 5.02 – Transición ejecutiva. Frontdoor (FTDR) informó que la Vicepresidenta, Controladora y Chief Accounting Officer (CAO) Chastitie Brim se retirará el 24 de agosto de 2025 y continuará como asesora hasta el 15 de septiembre de 2025. La junta nombró simultáneamente a Sally J. Shanks, ex CAO de WillScot Holdings (Nasdaq: WSC), para asumir los mismos cargos a partir del 25 de agosto de 2025, asegurando una transición sin inconvenientes.

Experiencia y remuneración. Shanks, de 48 años, supervisó contabilidad, reportes e impuestos en WillScot desde 2017 y anteriormente ocupó cargos financieros senior en Merkle y Laureate, tras iniciar su carrera en PwC. Su paquete de compensación incluye: (i) salario base de 395,000 dólares, (ii) bono anual en efectivo del 50% del objetivo, (iii) 100,000 dólares en RSU de bienvenida con vesting a dos años, además de elegibilidad para futuras asignaciones anuales de acciones y cobertura por indemnización ejecutiva.

La compañía enfatizó que la salida de Brim es voluntaria y no está relacionada con disputas sobre políticas o reportes. El formulario 8-K no contiene métricas financieras, cambios en las perspectivas ni otros eventos materiales.

항목 5.02 – 임원 교체. Frontdoor(FTDR)는 부사장이자 회계 담당 최고책임자(CAO)인 Chastitie Brim이 2025년 8월 24일 퇴임하며 2025년 9월 15일까지 고문으로 남을 것이라고 밝혔습니다. 이사회는 동시에 이전 WillScot Holdings(Nasdaq: WSC)의 CAO였던 Sally J. Shanks를 2025년 8월 25일부터 같은 직책을 맡도록 임명하여 원활한 인수인계를 지원합니다.

경력 및 보수. 48세인 Shanks는 2017년부터 WillScot에서 회계, 보고 및 세무를 총괄했으며, PwC에서 경력을 시작한 후 Merkle과 Laureate에서 고위 재무직을 역임했습니다. 그녀의 보수 패키지는 다음과 같습니다: (i) 기본급 39만 5천 달러, (ii) 목표 연간 현금 보너스 50%, (iii) 2년에 걸쳐 권리가 부여되는 10만 달러 서명 RSU, 그리고 향후 연간 주식 보상 및 임원 퇴직금 보장 자격 포함.

회사는 Brim의 퇴임이 자발적이며 정책이나 보고 관련 분쟁과 무관하다고 강조했습니다. 8-K 보고서에는 재무 지표, 전망 변경 또는 기타 중대한 사건이 포함되어 있지 않습니다.

Point 5.02 – Transition exécutive. Frontdoor (FTDR) a annoncé que la Vice-Présidente, Contrôleuse et Chief Accounting Officer (CAO) Chastitie Brim prendra sa retraite le 24 août 2025 et restera conseillère jusqu’au 15 septembre 2025. Le conseil d’administration a simultanément nommé Sally J. Shanks, ancienne CAO de WillScot Holdings (Nasdaq : WSC), pour occuper les mêmes fonctions à compter du 25 août 2025, assurant ainsi une passation fluide.

Expérience et rémunération. Shanks, 48 ans, supervisait la comptabilité, le reporting et la fiscalité chez WillScot depuis 2017 et avait précédemment occupé des postes financiers seniors chez Merkle et Laureate, après avoir débuté sa carrière chez PwC. Son package de rémunération comprend : (i) un salaire de base de 395 000 $, (ii) un bonus annuel en espèces équivalent à 50 % de l’objectif, (iii) 100 000 $ en RSU d’accueil acquises sur deux ans, ainsi que l’éligibilité à de futures attributions annuelles d’actions et une couverture en cas de départ exécutif.

L’entreprise a souligné que le départ de Brim est volontaire et sans lien avec un différend sur des politiques ou des rapports. Le formulaire 8-K ne contient aucune donnée financière, modification des perspectives ou autre événement important.

Punkt 5.02 – Führungswechsel. Frontdoor (FTDR) gab bekannt, dass die Vizepräsidentin, Controllerin und Chief Accounting Officer (CAO) Chastitie Brim am 24. August 2025 in den Ruhestand treten wird und bis zum 15. September 2025 als Beraterin verbleibt. Der Vorstand ernannte gleichzeitig Sally J. Shanks, ehemalige CAO von WillScot Holdings (Nasdaq: WSC), zur Übernahme derselben Positionen ab dem 25. August 2025, um eine nahtlose Übergabe zu gewährleisten.

Erfahrung und Vergütung. Shanks, 48 Jahre alt, leitete seit 2017 die Bereiche Buchhaltung, Berichterstattung und Steuern bei WillScot und hatte zuvor leitende Finanzpositionen bei Merkle und Laureate inne, nachdem sie ihre Karriere bei PwC begonnen hatte. Ihr Vergütungspaket umfasst: (i) ein Grundgehalt von 395.000 USD, (ii) einen jährlichen Barbonus von 50 % des Ziels, (iii) 100.000 USD an RSUs als Willkommensbonus mit einer Vesting-Periode von zwei Jahren sowie die Berechtigung für zukünftige jährliche Aktienzuteilungen und eine Abfindungsregelung für Führungskräfte.

Das Unternehmen betonte, dass Brims Ausscheiden freiwillig erfolgt und nicht mit Streitigkeiten über Richtlinien oder Berichte zusammenhängt. Das Formular 8-K enthält keine finanziellen Kennzahlen, Änderungen der Prognose oder sonstige wesentliche Ereignisse.

Positive
  • Orderly succession plan: retiring CAO remains as adviser, minimizing disruption.
  • Experienced successor: Sally Shanks brings 8+ years as public-company CAO, supporting reporting quality.
Negative
  • Key leadership turnover introduces transition risk, albeit limited.
  • No financial outlook update leaves investors without clarity on any accounting policy shifts.

Insights

TL;DR: Routine CAO succession; neutral impact, ensures continuity, no financial guidance altered.

The filing documents a planned retirement and orderly hand-off of the Chief Accounting Officer position. Frontdoor keeps Brim as an adviser for three weeks after her effective retirement, reducing transition risk. Incoming CAO Sally Shanks has eight years of public-company CAO experience, which should maintain reporting quality. Compensation appears standard for the role and is primarily cash-neutral near term. Because there are no accompanying revisions to financial statements, guidance, or control disclosures, the event is operational rather than strategic. I view the market impact as neutral.

Voce 5.02 – Transizione esecutiva. Frontdoor (FTDR) ha comunicato che la Vicepresidente, Controller e Chief Accounting Officer (CAO) Chastitie Brim andrà in pensione il 24 agosto 2025, rimanendo consulente fino al 15 settembre 2025. Il consiglio ha contestualmente nominato Sally J. Shanks, ex CAO di WillScot Holdings (Nasdaq: WSC), per assumere gli stessi ruoli a partire dal 25 agosto 2025, garantendo un passaggio di consegne fluido.

Esperienza e compenso. Shanks, 48 anni, ha supervisionato contabilità, rendicontazione e fiscalità in WillScot dal 2017 e in precedenza ha ricoperto ruoli senior in ambito finanziario presso Merkle e Laureate, dopo aver iniziato la carriera in PwC. Il suo pacchetto retributivo comprende: (i) uno stipendio base di 395.000 dollari, (ii) un bonus annuale in contanti pari al 50% del target, (iii) 100.000 dollari in RSU di benvenuto con maturazione in due anni, oltre all’idoneità per futuri premi azionari annuali e copertura per indennità esecutiva.

L’azienda ha sottolineato che l’uscita di Brim è volontaria e non collegata a controversie su politiche o rendicontazioni. Il modulo 8-K non riporta metriche finanziarie, cambiamenti nelle previsioni o altri eventi rilevanti.

Artículo 5.02 – Transición ejecutiva. Frontdoor (FTDR) informó que la Vicepresidenta, Controladora y Chief Accounting Officer (CAO) Chastitie Brim se retirará el 24 de agosto de 2025 y continuará como asesora hasta el 15 de septiembre de 2025. La junta nombró simultáneamente a Sally J. Shanks, ex CAO de WillScot Holdings (Nasdaq: WSC), para asumir los mismos cargos a partir del 25 de agosto de 2025, asegurando una transición sin inconvenientes.

Experiencia y remuneración. Shanks, de 48 años, supervisó contabilidad, reportes e impuestos en WillScot desde 2017 y anteriormente ocupó cargos financieros senior en Merkle y Laureate, tras iniciar su carrera en PwC. Su paquete de compensación incluye: (i) salario base de 395,000 dólares, (ii) bono anual en efectivo del 50% del objetivo, (iii) 100,000 dólares en RSU de bienvenida con vesting a dos años, además de elegibilidad para futuras asignaciones anuales de acciones y cobertura por indemnización ejecutiva.

La compañía enfatizó que la salida de Brim es voluntaria y no está relacionada con disputas sobre políticas o reportes. El formulario 8-K no contiene métricas financieras, cambios en las perspectivas ni otros eventos materiales.

항목 5.02 – 임원 교체. Frontdoor(FTDR)는 부사장이자 회계 담당 최고책임자(CAO)인 Chastitie Brim이 2025년 8월 24일 퇴임하며 2025년 9월 15일까지 고문으로 남을 것이라고 밝혔습니다. 이사회는 동시에 이전 WillScot Holdings(Nasdaq: WSC)의 CAO였던 Sally J. Shanks를 2025년 8월 25일부터 같은 직책을 맡도록 임명하여 원활한 인수인계를 지원합니다.

경력 및 보수. 48세인 Shanks는 2017년부터 WillScot에서 회계, 보고 및 세무를 총괄했으며, PwC에서 경력을 시작한 후 Merkle과 Laureate에서 고위 재무직을 역임했습니다. 그녀의 보수 패키지는 다음과 같습니다: (i) 기본급 39만 5천 달러, (ii) 목표 연간 현금 보너스 50%, (iii) 2년에 걸쳐 권리가 부여되는 10만 달러 서명 RSU, 그리고 향후 연간 주식 보상 및 임원 퇴직금 보장 자격 포함.

회사는 Brim의 퇴임이 자발적이며 정책이나 보고 관련 분쟁과 무관하다고 강조했습니다. 8-K 보고서에는 재무 지표, 전망 변경 또는 기타 중대한 사건이 포함되어 있지 않습니다.

Point 5.02 – Transition exécutive. Frontdoor (FTDR) a annoncé que la Vice-Présidente, Contrôleuse et Chief Accounting Officer (CAO) Chastitie Brim prendra sa retraite le 24 août 2025 et restera conseillère jusqu’au 15 septembre 2025. Le conseil d’administration a simultanément nommé Sally J. Shanks, ancienne CAO de WillScot Holdings (Nasdaq : WSC), pour occuper les mêmes fonctions à compter du 25 août 2025, assurant ainsi une passation fluide.

Expérience et rémunération. Shanks, 48 ans, supervisait la comptabilité, le reporting et la fiscalité chez WillScot depuis 2017 et avait précédemment occupé des postes financiers seniors chez Merkle et Laureate, après avoir débuté sa carrière chez PwC. Son package de rémunération comprend : (i) un salaire de base de 395 000 $, (ii) un bonus annuel en espèces équivalent à 50 % de l’objectif, (iii) 100 000 $ en RSU d’accueil acquises sur deux ans, ainsi que l’éligibilité à de futures attributions annuelles d’actions et une couverture en cas de départ exécutif.

L’entreprise a souligné que le départ de Brim est volontaire et sans lien avec un différend sur des politiques ou des rapports. Le formulaire 8-K ne contient aucune donnée financière, modification des perspectives ou autre événement important.

Punkt 5.02 – Führungswechsel. Frontdoor (FTDR) gab bekannt, dass die Vizepräsidentin, Controllerin und Chief Accounting Officer (CAO) Chastitie Brim am 24. August 2025 in den Ruhestand treten wird und bis zum 15. September 2025 als Beraterin verbleibt. Der Vorstand ernannte gleichzeitig Sally J. Shanks, ehemalige CAO von WillScot Holdings (Nasdaq: WSC), zur Übernahme derselben Positionen ab dem 25. August 2025, um eine nahtlose Übergabe zu gewährleisten.

Erfahrung und Vergütung. Shanks, 48 Jahre alt, leitete seit 2017 die Bereiche Buchhaltung, Berichterstattung und Steuern bei WillScot und hatte zuvor leitende Finanzpositionen bei Merkle und Laureate inne, nachdem sie ihre Karriere bei PwC begonnen hatte. Ihr Vergütungspaket umfasst: (i) ein Grundgehalt von 395.000 USD, (ii) einen jährlichen Barbonus von 50 % des Ziels, (iii) 100.000 USD an RSUs als Willkommensbonus mit einer Vesting-Periode von zwei Jahren sowie die Berechtigung für zukünftige jährliche Aktienzuteilungen und eine Abfindungsregelung für Führungskräfte.

Das Unternehmen betonte, dass Brims Ausscheiden freiwillig erfolgt und nicht mit Streitigkeiten über Richtlinien oder Berichte zusammenhängt. Das Formular 8-K enthält keine finanziellen Kennzahlen, Änderungen der Prognose oder sonstige wesentliche Ereignisse.

0001727263false00017272632025-07-222025-07-22

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 22, 2025

 

 

Frontdoor, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-38617

82-3871179

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

3400 Players Club Parkway,

 

Memphis, Tennessee

 

38125

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 901 701-5000

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Common stock, par value $0.01 per share

 

FTDR

 

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 22, 2025, Chastitie Brim, the Vice President, Controller and Chief Accounting Officer of Frontdoor, Inc. (the “Company”), provided notice to the Company of her intention to retire effective August 24, 2025, after which date Ms. Brim will serve in an advisory capacity until September 15, 2025. Ms. Brim’s decision to retire was not the result of any disagreement with the Company, the Company’s management or the Board of Directors of the Company on any matter relating to the Company’s operations, policies or practices.

On July 22, 2025, the Company appointed Sally J. Shanks, to serve as the Company’s Vice President, Controller and Chief Accounting Officer effective August 25, 2025. Prior to joining the Company, Ms. Shanks, age 48, served as Chief Accounting Officer of WillScot Holdings Corporations (Nasdaq: WSC) (“WillScot”), a publicly traded mobile storage and modular solutions business, since 2017. In this role, she was responsible for WillScot’s Accounting, Accounting Operations, External Reporting and Tax functions. Ms. Shanks joined WillScot from Merkle Inc., a global technology-enabled performance marketing agency, where she served in various financial leadership roles from 2009 to 2017, including Senior Vice President, Accounting & Treasury. Prior to that she held the role of Director of Accounting and Reporting for Laureate Education. Ms. Shanks started her career with PricewaterhouseCoopers LLP, earned a Bachelor of Science degree in Accounting from Providence College, and is a Certified Public Accountant (inactive) in the State of Connecticut.

In connection with her appointment as Vice President, Controller and Chief Accounting Officer of the Company, Ms. Shanks will receive (i) an annual base salary of $395,000 and a target annual bonus opportunity of 50% of her annual base salary pursuant the Company’s Annual Incentive Plan, (ii) annual equity-based awards under the Frontdoor, Inc. 2018 Omnibus Incentive Plan, which, subject to the approval of the Compensation Committee of the Board of Directors of the Company in its sole discretion, shall be granted beginning on the Company’s 2026 annual award grant date, and (iii) a sign on equity grant in the amount of $100,000 in restricted stock units, which will vest in two equal annual installments subject to Ms. Shanks’s continued employment. In addition, Ms. Shanks shall be a “covered person” under the Company’s Executive Severance Policy and shall be eligible to participate in the Company’s health, welfare and retirement benefits on the same basis as all other Company employees.

 


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.

 

 

 

FRONTDOOR, INC.

 

 

 

 

Date:

July 23, 2025

By:

/s/ Jeffrey A. Fiarman

 

 

Name:

Title:

Jeffrey A. Fiarman
Senior Vice President, Chief Legal Officer and Secretary

 

 


FAQ

Why is Frontdoor's CAO Chastitie Brim leaving?

She is retiring effective 24 Aug 2025 and will advise until 15 Sep 2025; the company cites no disagreements.

Who is Frontdoor's new Chief Accounting Officer?

Sally J. Shanks, former CAO of WillScot Holdings, will assume the role on 25 Aug 2025.

What compensation will the new CAO receive?

Annual base salary of $395,000, 50% target bonus, and a $100,000 sign-on RSU grant vesting over two years.

Does the 8-K affect FTDR's financial guidance?

No. The filing contains no changes to revenue, earnings outlook, or control disclosures.

Is the leadership change linked to any accounting issues at Frontdoor?

The company states the retirement is voluntary and not due to disagreements on operations or policies.
Frontdoor, Inc.

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