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SAILPOINT TECHNOLOGIES HOLDINGS, INC. : Change in Directors or Principal Officers (form 8-K)

08/31/2021 | 04:23pm

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 30, 2021, the Board of Directors (the "Board") of SailPoint
Technologies Holdings, Inc.
, a Delaware corporation (the "Company"), appointed
Cam McMartin as Interim Chief Financial Officer of the Company, effective
September 1, 2021.
Mr. McMartin, 64, has served on the Board since January 2020 and previously
served as the Company's Chief Operating Officer from May 2019 until his
retirement in December 2019 and as the Company's Chief Financial Officer from
2011 to May 2019. In July 2021, he joined the board of directors of N-able, Inc.
(NYSE: NABL), global provider of cloud-based software solutions for managed
service providers. Mr. McMartin formerly served as Managing Director and Chief
Financial Officer for CenterPoint Ventures, a $425 million venture capital
group. Before CenterPoint Ventures, Mr. McMartin held senior financial
management positions with a number of corporations, including Chief Financial
Officer at Convex Computer (NYSE: CNX) and Senior VP, Operations at Dazel. Mr.
holds a B.A. in Business Administration from Trinity University and an
M.B.A. from the University of Michigan.
In connection with his appointment, Mr. McMartin (i) will receive an annual base
salary of $450,000, (ii) will be eligible to receive a bonus of up to 100% of
his annual base salary based on achievement of corporate goals as set forth by
the Compensation Committee of the Board, (iii) received a restricted stock unit
award with a value equal to approximately $1,000,000, which award will vest and
be settled in six equal monthly tranches beginning September 28, 2021, and (iv)
will be eligible to participate in the Company's Severance Pay Plan. In
addition, Mr. McMartin is eligible to participate in a comprehensive package of
additional employee benefits, including but not limited to medical, dental,
vision, group life insurance, a 401(k) plan and the Company's Employee Stock
Purchase Plan.
There are no transactions between the Company and Mr. McMartin that would
require disclosure under Item 404(a) of Regulation S-K, no arrangements or
understandings between Mr. McMartin and any other persons pursuant to which he
was selected as an officer of the Company, and no family relationships between
Mr. McMartin and any director or executive officer of the Company.
The Company and Mr. McMartin previously entered into the Company's standard form
of indemnification agreement, which requires the Company, among other things, to
indemnify Mr. McMartin against liabilities that may arise by reason of his
status or service. The indemnification agreement also requires the Company to
advance all expenses incurred by Mr. McMartin in investigating or defending any
action, suit, or proceeding that may arise by reason of his status or service.
For a full description of the Company's indemnification agreements, please see
the Company's proxy statement for its 2021 Annual Meeting of Stockholders, which
was filed with the Securities and Exchange Commission on March 19, 2021.


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