Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Effective June 2, 2021, the board of directors (the "Board") of Independence
Holdings Corp. (the "Company") approved an increase in the size of the Board
from four (4) directors to five (5) directors and elected Ahmedulla Khan
Khaishgi as a member of the Board's second class of directors. The Board
appointed Mr. Khaishgi as a member of the audit committee and as a member of the
compensation committee.
Mr. Khaishgi has over 25 years of experience in financial technology leadership,
corporate strategy and transactions. Currently, Mr. Khaishgi is SVP Special
Projects at SquareTrade, Inc. ("SquareTrade"), a subsidiary of The Allstate
Corporation ("Allstate"), and is serving on the Signifyd, Inc. board of
directors and the investment committee of Mentors Fund LLC, where he is a
Founding Partner. Mr. Khaishgi is a Co-Founder of SquareTrade and served as its
CEO from 2014 to March 2020. During his tenure as CEO, Mr. Khaishgi led
SquareTrade to over 120 million active policy holders and developed partnerships
with some of the largest retailers and operators in the world. Under Mr.
Khaishgi's leadership, SquareTrade raised over $250 million from investors
culminating in its $1.4 billion acquisition by Allstate in November 2016. Prior
to co-founding SquareTrade, Mr. Khaishgi worked at McKinsey & Company, Inc. and
The Procter & Gamble Company. Mr. Khaishgi holds a bachelor of science degree in
Computer Engineering from the King Fahd University of Petroleum and Minerals and
an MBA from Harvard Business School, where he graduated as a Baker Scholar.
There is no arrangement or understanding between Mr. Khaishgi and any other
person pursuant to which she or he was selected as a director of the Company,
and there is no family relationship between Mr. Khaishgi and any of the
Company's other directors or executive officers.
The Board has determined that Mr. Khaishgi is an "independent director" as
defined in the NASDAQ listing standards and applicable SEC rules. There are no
transactions between the Company and Mr. Khaishgi that are subject to disclosure
under Item 404(a) of Regulation S-K.
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