Freight leader Lance Healy joins Paid Inc. (PAYD) board to support ShipTime growth
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Paid Inc. reported the appointment of freight technology veteran Lance Healy to its Board of Directors to fill a recent vacancy. Healy brings more than 30 years of experience in freight technology, carrier connectivity, and logistics data intelligence, supporting the company’s ShipTime logistics platform.
Healy has been appointed as a Class I director and will serve through April 17, 2029, unless a successor is elected earlier or he departs. As compensation, he will receive $10,000 per year and an option to purchase 20,000 shares of common stock annually. He currently serves as Co-Founder and CEO of Freight Facts and previously co-founded Banyan Technology.
Positive
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Negative
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Director annual cash compensation: $10,000 per year
Annual stock option grant: 20,000 shares
Director term end: April 17, 2029
+1 more
4 metrics
Director annual cash compensation
$10,000 per year
Compensation for Lance Healy as a Paid Inc. director
Annual stock option grant
20,000 shares
Option to purchase common stock granted annually to Lance Healy
Director term end
April 17, 2029
End of Lance Healy’s term as Class I director unless earlier change
Experience in freight technology
30 years
Lance Healy’s experience in freight technology and transportation infrastructure
Key Terms
Class I director, LTL, FTL, Inline XBRL, +1 more
5 terms
Class I director financial
"As a Class I director, Mr. Healy shall serve as Director through April 17, 2029"
A class I director is a member of a company’s board who belongs to one of several groups whose terms expire in a specified year under a staggered election system; each class is elected on a different cycle so only a portion of the board faces re-election each year. This matters to investors because it affects how quickly control of the board can change, the company’s continuity and oversight, and the ease of mounting or defending against takeover efforts—think of a team where only some players are replaced each season rather than the whole roster at once.
LTL technical
"including leadership in LTL automation, carrier APIs, shipment execution systems"
Less-than-truckload (LTL) is a freight shipping method for loads too small to fill an entire truck, where multiple customers’ shipments share the same vehicle and pay only for the space they use. Investors care because LTL volumes, pricing and network efficiency directly affect carriers’ revenue, fuel and labor costs, and profit margins—similar to how filling more seats on a bus spreads costs and boosts profitability.
FTL technical
"expansion across parcel, LTL, FTL, fulfillment, and cross-border logistics"
Inline XBRL regulatory
"104 | Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
logistics technology platform technical
"a leading logistics technology platform offering advanced shipping and freight solutions"
FAQ
What did Paid Inc. (PAYD) announce in this 8-K filing?
Paid Inc. announced the appointment of Lance Healy to its Board of Directors. Healy is a freight technology veteran whose experience is expected to support ShipTime’s parcel, freight, and fulfillment logistics platform as it expands across North American shipping markets.
Who is Lance Healy and what is his background relevant to PAYD?
Lance Healy has over 30 years of experience in freight technology and transportation infrastructure. He co-founded Banyan Technology and now leads Freight Facts, bringing expertise in LTL automation, carrier APIs, pricing intelligence, and logistics data analytics to Paid Inc.’s board.
What role will Lance Healy serve at Paid Inc. (PAYD)?
Lance Healy has been appointed as a Class I director on Paid Inc.’s Board. He will serve through April 17, 2029, unless a successor is elected earlier or he resigns, retires, or his service is otherwise terminated under the company’s governance structure.
How will Paid Inc. compensate Lance Healy for his board service?
Paid Inc. will compensate Lance Healy with $10,000 per year and annual stock options. He is scheduled to receive an option to purchase 20,000 shares of common stock each year as part of his director compensation package, aligning incentives with shareholders.
How does Lance Healy’s experience align with ShipTime and Paid Inc. strategy?
Healy’s background in freight operations, carrier connectivity, and logistics data intelligence aligns with ShipTime’s goal of a unified logistics platform. His expertise supports expanding parcel, LTL, FTL, fulfillment, and cross-border capabilities across North American shipping markets.