— Jeff Ward, Lehigh Valley News Briefs
Shift4 has filed an 8-K form with the U.S. Securities and Exchange Commission about the departure of Chief Executive Officer Jared Isaacman, who has been chosen to by the administrator of NASA.
As my earlier story noted, Isaacman has the qualifications to lead a big operation.
As a shareholder, I think he’s done a good job at Shift4 (NYSE:FOUR), which processes payments for hotels, restaurants, sports teams, arenas and other businesses. So good luck to him. The business is based in Upper Saucon Township, by the way, thus why I write about it. Not because I own stock in it.
Isaacman is a billionaire, pilot, has flown on SpaceX missions, and founded a $10 billion company. Elon Musk, an adviser to President-Elect Donald Trump, controls SpaceX.
Here is a link to the complete filing, and below is what I cut-and-pasted to eliminate the boilerplate stuff.
From the filing:
On December 4, 2024, Shift4 Payments, Inc. (the “Registrant,” “Shift4,” or the “Company”) issued a press release announcing that its Founder, Chief Executive Officer and Chairman of the Board of Directors Jared Isaacman has been nominated by President-elect Donald J. Trump to serve as
Administrator of the National Aeronautics and Space Administration and the intention of Mr. Isaacman to remain in his position at the Company until his appointment is confirmed by the U.S. Senate. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
** And the press release referred to above, which is a letter from Isaacman:
December 4, 2024
Shift4 Family
Subject: Jared Isaacman’s Acceptance of Nomination for NASA Administrator
To My Shift4 Family,
After nearly 26 years leading Shift4, the time has come for me to embark on a new journey. I was nominated to lead NASA – a role that reflects my passion for advancing humankind’s reach among the stars, unlocking the secrets of the universe, and improving life on Earth along the way.
Throughout my career, I’ve taken on ambitious endeavors, including going to space, that required a strong management team capable of carrying the vision forward. I am proud to say Shift4’s leadership has never been stronger. Taylor Lauber has been at the heart of our evolution, leading our IPO and Strategy, and navigating the opportunities and challenges of being a public company. I am confident that Taylor and the team will continue to execute our ambitious growth plans with precision and passion.
On that note, Shift4 is incredibly well-positioned for the future. Our strategy to win across restaurants, hotels, stadiums, and e-commerce, and do so worldwide is stronger than ever. With a solid financial foundation, low leverage, and an impressive pipeline of opportunities, Shift4 is positioned to deliver exceptional growth for years to come.
I intend to remain CEO until my confirmation and will be fully engaged at our Investor Day in February, where we will share our vision to deliver profitable growth well into the future. I also plan to retain the majority of my equity interest in Shift4, subject to ethics obligations and will move quickly to reduce my voting power to be commensurate with other Class-A shareholders. While I can envision a future where I return, I know the company is in great hands.
Shift4 has been my life’s work since I was 16 years old, but it is my time to serve and give back to the nation that enabled me to live the American dream.
With sincere gratitude,
Jared Isaacman
CEO
Shift4
3501 Corporate Pkwy, Center Valley, PA 18034 | www.shift4.com
— Disclosure: I own shares in Shift4 as part of a buy-and-hold strategy. The shares dipped today, but they have been rising steadily and remain well over their 52-week low.
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