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Insider Trading Arrangements | 3 Months Ended
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Sep. 30, 2024 shares
Trading Arrangements, by Individual |  |
Material Terms of Trading Arrangement | During the three months ended September 30, 2024, none of our directors or officers (as defined in Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended) adopted, terminated, or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K), except as described in the table below.
|  |  |  |  |  | Trading Arrangement |  |  |  |
Director/Officer Name |  | Title |  | Date of Adoption/Termination |  | Rule 10b5-1(1) |  | Non-Rule 10b5-1 |  | Scheduled Expiration Date of Rule 10b5-1 Trading Plan(2) |  | Aggregate Number of Securities to Be Purchased or Sold
David L. Gamsey |  | Chief Financial Officer(3) |  | Adopted August 9, 2024 |  | X |  |  |  | August 8, 2025 |  | Sale of up to 325,000 shares of common stock in multiple transactions
Joseph Jaeger |  | President, Americas(3) |  | Adopted August 12, 2024 |  | X |  |  |  | November 21, 2025 |  | Sale of up to 50,000 shares of common stock in multiple transactions
Bret T. Jardine |  | Chief Legal Officer & Corporate Secretary |  | Adopted August 16, 2024 |  | X |  |  |  | August 15, 2025 |  | Sale of up to 40,286 shares of common stock in multiple transactions
(1) Intended to satisfy the affirmative defense of Rule 10b5-1(c). (2) A trading plan may also expire on such earlier date that all transactions under the trading plan are completed. (3) In connection with their respective retirements, each of David L. Gamsey and Joseph Jaeger, was not an “officer” of the Company as of November 12, 2024. Appointment of Global Chief Operating Officer On November 11, 2024, the Company’s Board of Directors promoted Douglas Nairne to the role of Global Chief Operating Officer (principal operating officer), effective as of November 11, 2024. As Global Chief Operating Officer, Mr. Nairne will oversee all of the Company’s global operations, customer care, and customer onboarding teams. Mr. Nairne, 58, previously served as the Company’s Chief Operations Officer – International since joining the Company in October 2021, and was responsible for First Advantage’s operations in the Asia-Pacific (APAC), India and Europe, Middle East, and Africa (EMEA) regions. Prior to joining the Company, Mr. Nairne served as the Chairman and Chief Executive Officer of Dataflow Group, a background screening company for employers recruiting high-risk, internationally mobile professionals from July 2011 to July 2018 and served in an advisory position from July 2018 to September 2021. Mr. Nairne’s past experience includes positions as an officer in the Canadian Army, a journalist for the South China Morning Post, and Chief Operating Officer of IntegraScreen. Mr. Nairne holds a B. A. from the University of Manitoba, a master’s in journalism from Hong Kong University, and a master’s in business administration from the Hong Kong University of Science and Technology and Northwestern University’s Kellogg School of Management. In connection with the promotion of Mr. Nairne: (i) his annual base salary will increase to $500,000.00 (to be converted into HKD at the applicable exchange rate), (ii) he will be eligible to receive a discretionary annual cash bonus of up to 60% of his annual base salary, and (iii) he will receive a one-time cash bonus of $100,000.00 in connection with the Company’s acquisition of Sterling Check Corp. Additionally, on November 14, 2024, Mr. Nairne will receive a grant of equity awards, pursuant to the First Advantage 2021 Omnibus Incentive Plan (as amended) and the Company’s current forms of equity awards (substantially in the forms filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as Exhibit 10.9 (Form of Restricted Stock Unit Award Grant Notice and Agreement) and Exhibit 10.5 (Form of Standard Option Award Grant Notice and Agreement)), having a fair value equal to $1,000,000.00, comprised of 50% stock options and 50% restricted stock units, with each grant vesting annually in four equal installments from November 1, 2024. The exact number of stock options and restricted stock units subject to the awards will be determined on November 14, 2024, based on the prior twenty day average closing price of the Company’s common stock in the case of the restricted stock units and using a Black-Scholes valuation for the stock options. The per share exercise price of the stock options will be the closing price on November 14, 2024. Mr. Nairne was not appointed pursuant to any arrangement or understanding with any other person, has no family relationships with any director or executive officer of the Company, and there are no transactions involving Mr. Nairne that would be required to be reported under Item 404(a) of Regulation S-K. |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Rule 10b51 Arr Modified Flag | false |
Non Rule 10b51 Arr Modified Flag | false |
David L. Gamsey |  |
Trading Arrangements, by Individual |  |
Name | David L. Gamsey |
Title | Chief Financial Officer(3) | [1]
Rule 10b5-1 Arrangement Adopted | true |
Non-Rule 10b5-1 Arrangement Adopted | false |
Adoption Date | August 9, 2024 |
Expiration Date | August 8, 2025 | [2]
Aggregate Available | 325,000 |
Joseph Jaeger |  |
Trading Arrangements, by Individual |  |
Name | Joseph Jaeger |
Title | President, Americas(3) | [1]
Rule 10b5-1 Arrangement Adopted | true |
Non-Rule 10b5-1 Arrangement Adopted | false |
Adoption Date | August 12, 2024 |
Expiration Date | November 21, 2025 | [2]
Aggregate Available | 50,000 |
Bret T. Jardine |  |
Trading Arrangements, by Individual |  |
Name | Bret T. Jardine |
Title | Chief Legal Officer & Corporate Secretary |
Rule 10b5-1 Arrangement Adopted | true |
Non-Rule 10b5-1 Arrangement Adopted | false |
Adoption Date | August 16, 2024 |
Expiration Date | August 15, 2025 | [2]
Aggregate Available | 40,286 |
[1] | In connection with their respective retirements, each of David L. Gamsey and Joseph Jaeger, was not an “officer” of the Company as of November 12, 2024.
[2] | A trading plan may also expire on such earlier date that all transactions under the trading plan are completed.

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