01—Abstract
Summary
Summary of the 8-K filed February 6, 2025. Cited figures are marked; the original filing is the authoritative source.
Block, Inc. (NYSE: XYZ) filed this Current Report on Form 8-K dated February 6, 2025 to report that its Board of Directors increased the size of the Board from nine to ten directors and elected Anthony Eisen as a Class III director, effective February 6, 2025.
The filing states that Mr. Eisen is not expected to serve on any Board committees at this time. He is co-founder of Afterpay and, since January 2025, CEO of Reshop, a privately held financial technology company where he also serves as Chairman. He previously served as co-lead of Afterpay from January 2022, when Block acquired Afterpay Limited, until November 2024, and as co-CEO of Afterpay before the acquisition.
The Board selected Mr. Eisen for his financial services and fintech expertise, specifically in Buy Now, Pay Later services, and for his experience as a co-founder of Afterpay. He will receive the standard compensation for non-employee directors under the Company's Outside Director Compensation Policy and has executed the Company's standard form of indemnification agreement. The filing states there is no arrangement or understanding under which he was selected, no family relationships with any director or executive officer, and no direct or indirect material interest in any related-person transaction requiring disclosure under Item 404(a) of Regulation S-K.
The accompanying press release (Exhibit 99.1) announces the appointment and quotes Mr. Eisen and Chairman Jack Dorsey, describing Afterpay as having reached over 400,000 merchants and more than 24 million customers. For investors, the filing is a board-composition change rather than a financial disclosure; it contains no financial results or guidance.
02—Key points
Key Highlights
- Board expanded from nine to ten directors, with Anthony Eisen elected as a Class III director effective February 6, 2025.
- Mr. Eisen co-founded Afterpay in November 2014 and served as its co-CEO before Block's acquisition of Afterpay Limited.
- Mr. Eisen led Afterpay within Block as co-lead from January 2022 until November 2024, then served as a consultant during the transition of his duties.
- Mr. Eisen is CEO of Reshop, a privately held fintech company, since January 2025, and serves as its Chairman.
- Mr. Eisen is not expected to serve on any Board committees at this time.
- Mr. Eisen will receive standard non-employee director compensation and has signed the Company's standard indemnification agreement.
- The press release cites Afterpay reaching over 400,000 merchants and more than 24 million customers.
03—Questions
Frequently Asked Questions
Why was Anthony Eisen added to Block's Board?
The filing states the Board selected him for his financial services and fintech expertise, specifically in Buy Now, Pay Later services, and for his experience as a co-founder of Afterpay.
Does Mr. Eisen have any committee roles?
The filing states he is not expected to serve on any Board committees at this time.
How is Mr. Eisen compensated as a director?
He will receive the Company's standard compensation for non-employee directors under the Outside Director Compensation Policy, as described in the proxy statement for the 2024 annual meeting of stockholders.
Does Mr. Eisen have any related-party interest with Block?
The filing states he has no direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K, and there are no family relationships with any director or executive officer.
What was Mr. Eisen's previous role at Block?
He served as co-lead of Afterpay from January 2022, when Block acquired Afterpay Limited, to November 2024, and then as a consultant to aid the transition of his duties until his Board election.
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