Shutterfly,
Inc. (NASDAQ:SFLY), the leading manufacturer and digital retailer of
high-quality personalized photo products and services offered through a
family of lifestyle brands, today announced it has appointed Tracy
Layney as senior vice president and chief human resources officer.
Layney will join the Shutterfly Inc. team on June 9, 2015.
Layney will be responsible for all aspects of human resources including
compensation and benefits, recruiting, employee development and
relations, information systems, real estate, and employment branding.
Additionally, Layney will oversee the Shutterfly Foundation.
“Tracy is a terrific addition to the Shutterfly Inc. team,” said Jeffrey
Housenbold, president and chief executive officer of Shutterfly Inc.
“Her experience overseeing human resources in a consumer-focused,
multi-brand environment will be invaluable as we continue to scale and
grow our family of lifestyle brands.”
Layney brings many years of human resources and organizational strategy
to her position. Most recently she was SVP and Head of Human Resources
and Communications for Old Navy, a Gap Inc. brand. Prior to Old Navy,
Layney held numerous other roles at Gap Inc., including vice president,
human resources strategy, technology and operations and senior director
of international human resources. Prior to Gap Inc., Layney held roles
with Levi Strauss & Company and Pricewaterhouse Coopers Business
Consulting. Layney has a Bachelor of Arts from the University of
Pennsylvania, Magna cum Laude.
In connection with her appointment, the Compensation Committee of
Shutterfly Inc.’s Board of Directors granted an inducement award to
Tracy Layney consisting of restricted stock unit awards and performance
based restricted stock unit awards representing the right to receive up
to 87,000 shares of Shutterfly Inc.’s common stock. The awards will vest
over four years, with 25% of the underlying shares vesting on each of
the first, second, third and fourth anniversaries of the vesting
commencement date. The right to receive up to 43,500 of the shares is
subject to the additional condition that certain performance-based
milestones be met on or before the vesting commencement date. Vesting of
all of the awards is subject to Ms. Layney’s continuous service through
each vesting date.
The Compensation Committee granted the award as an inducement material
to Ms. Layney entering into employment in accordance with NASDAQ Listing
Rule 5635(c)(4).
About Shutterfly, Inc.
Shutterfly, Inc. is the leading manufacturer and digital retailer of
high-quality personalized products and services offered through a family
of lifestyle brands. Founded in 1999, the Shutterfly, Inc. family of
brands includes Shutterfly,
where your photos come to life in photo books, cards and gifts; Tiny
Prints, premium cards and stationery for all life’s occasions; Wedding
Paper Divas, wedding invitations and stationery for every step of
the planning process; MyPublisher,
one of the pioneers in the photo book industry and creator of
easy-to-use photo book-making software; ThisLife,
a private, cloud-based solution that makes it easy for consumers to
find, share and enjoy their photos and videos, all in one place; and BorrowLenses,
the premier online marketplace for photographic and video equipment
rentals. For more information about Shutterfly, Inc. (SFLY),
visit www.shutterflyinc.com.
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