UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM  i 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):

 i April 15, 2022

 

 i 2U, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)

 

DELAWARE

(STATE OF INCORPORATION)

 

i 001-36376		i 26-2335939
(COMMISSION FILE NUMBER)		(IRS EMPLOYER ID. NUMBER)

 

i 7900 Harkins Road  i Lanham,  i MD		i 20706
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)		(ZIP CODE)

 i (301)  i 892-4350

(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)

 

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:

 

i ☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

i ☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

i ☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

i ☐	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		Name of each exchange on which registered
i Common Stock, $0.001 par value per share		i TWOU		i The Nasdaq Global Select Market

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  i ☐

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 April 15, 2022, John Ellis resigned from his position as Chief Accounting Officer of 2U, Inc. (the “Company”), effective April 30, 2022, to pursue other professional opportunities. Mr. Ellis’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Mr. Paul S. Lalljie, Chief Financial Officer, will assume the role of Principal Accounting Officer, effective upon Mr. Ellis’s resignation.

In connection with his resignation, Mr. Ellis and the Company have entered into a Separation, Consulting and Release Agreement, effective as of April 15, 2022 (the “Consulting Agreement”), pursuant to which Mr. Ellis will serve as a consultant providing advisory and transition services to the Company until April 30, 2023 (such period, the “Consulting Period”). Pursuant to the Consulting Agreement, Mr. Ellis will receive his base salary for twelve (12) months, an aggregate consulting fee of $60,000, paid in equal monthly installments during the Consulting Period, and a one-time payment of $150,000 following the successful completion of the Consulting Period.

The description of the Consulting Agreement set forth above does not purport to be complete and is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein to this Item 5.02.

 

Item 9.01

Financial Statements and Exhibits

(d)     Exhibits

 

Exhibit Number		Exhibit Description
10.1		Separation, Consulting and Release Agreement, dated as of April 15, 2022, by and between 2U, Inc. and John Ellis
104		Cover page Interactive data file (embedded within the inline XBRL document)

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.

 

Date: April 15, 2022