528 material Form 8-K filings that 462 companies we cover made with the SEC in January 2025, each read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). All of them were written later, when past filings were added: a selection, not every 8-K of the month (see the note below).
Fulton Financial said its Senior Executive Vice President and Chief Operations and Technology Officer, Karthik Sridharan, is leaving the company effective January 31, 2025, and that the departure will be treated as a termination without Cause under his employment agreement. The filing describes severance of 12 months' base salary, a prorated target bonus, and 12 months of benefits, with some equity awards vesting and others forfeited.
Departure effective January 31, 2025; treated as termination without Cause under the June 12, 2023 employment agreement
Severance conditional on a general release of claims: 12 months of base salary and 12 months of health and welfare benefits or equivalent cost
Prorated target-level bonus for the year of separation, plus any vested but unpaid bonus
Time-Vested Awards vest under the 2022 plan; other unvested awards will be forfeited
MSCI's board committee approved a one-time $15.0 million stock option award for Chairman and CEO Henry Fernandez, with three tranches whose exercise prices of $1,000, $1,100 and $1,200 sit well above the $590.73 closing price on January 30, 2025. The committee also raised his annual long-term equity incentive pay from $11.6 million to $14.6 million, effective January 27, 2025, which matters to shareholders because it sets how CEO pay is tied to share price and performance.
One-time option award with a $15.0 million grant-date value, split equally across three tranches with exercise prices of $1,000, $1,100 and $1,200
Hurdles represent premiums of about 69.3%, 86.2% and 103.1% over the January 30, 2025 closing price of $590.73
Options vest on the fifth anniversary of the grant date, which is on or around January 31, 2025, and have a ten-year term
Annual long-term equity incentive pay rose from $11.6 million to $14.6 million, effective January 27, 2025
U.S. Bancorp said Shailesh M. Kotwal will cease to serve as Vice Chair, Payment Services, effective February 3, 2025, as part of his previously announced retirement. He will stay on in an advisory role supporting the Payments business transition through June 30, 2025. Director Scott W. Wine also said he will not stand for re-election at the 2025 Annual Meeting of Shareholders, citing personal reasons.
Shailesh M. Kotwal leaves the Vice Chair, Payment Services role effective February 3, 2025
Kotwal remains employed in an advisory role through June 30, 2025
Scott W. Wine notified the Board on January 28, 2025 he will not seek re-election after ten years of service
Wine's decision was for personal reasons, not a disagreement with the company
On January 31, 2025, Alpha Metallurgical Resources signed amended and restated employment agreement with CEO C. Andrew Eidson and new employment agreements with four other executives, all running through January 31, 2028. The company said the agreements are meant to promote retention and leadership stability, and they set base salaries, bonus targets, and severance terms.
CEO C. Andrew Eidson's annual base salary is $1,000,000; the other executives' salaries range from $500,000 to $750,000.
Base salaries automatically rise 5% each January 1 during the term, and each agreement renews for successive 1-year terms unless either party gives at least 90 days' notice.
Severance without cause or for good reason is 2 times base salary plus bonus for the CEO and 1.5 times for the other executives; within 90 days before to 12 months after a change in control, the CEO's amount rises to 2.5 times.
Each executive agrees not to compete for two years after employment ends.
First BanCorp. announced on January 31, 2025 a strategic reorganization aligned with its corporate succession plan, including the retirements of two business group executives and new leadership roles effective April 1, 2025. The filing contains no financial results or guidance; the company says the changes aim to improve operational efficiency and align resources for future growth. Compensation terms for the retirements and promotions were not available as of the filing date.
Cassan Pancham, EVP and Business Group Executive, retires effective May 15, 2025; Carlos Power, EVP and Business Group Executive, retires effective May 2, 2025.
Nayda Rivera, EVP and Chief Risk Officer, becomes EVP and Chief Consumer Officer effective April 1, 2025 and remains Corporate Chief of Staff.
Myrna Rivera is appointed SVP Division Director and Chief Risk Officer, reporting to CFO Orlando Berges and the Board's Risk Committee.
Pancham is expected to enter a temporary consulting agreement; its terms were not available as of the filing date.
First Horizon Corporation elected Jeffrey J. Brown, former CEO of Ally Financial, to its board on January 27, 2025, and director Harry V. Barton, Jr. said he will retire at the 2025 annual meeting. The board also amended its bylaws to increase its size from 13 to 14 members until that meeting, after which it returns to 13. These are governance changes that do not include reported financial results.
Jeffrey J. Brown, age 51, elected to the board effective immediately; he will stand for shareholder election at the 2025 annual meeting and joins the Compensation, Executive, and Risk Committees
Harry V. Barton, Jr., age 70, will retire from the board when directors are elected at the 2025 annual meeting, scheduled for April 29, 2025
Bylaw Section 3.2 amended effective immediately to set board size at 14 members until the 2025 annual meeting, then 13
Amentum's Compensation Committee approved a equity grant to CEO John Heller on January 28, 2025, consisting of 1,373,955 options and 155,938 restricted stock units. The company says the grant is meant to make up value lost when prior equity awards were converted in connection with the transaction that made Amentum a public company.
Option award: 1,373,955 options with an exercise price of $22.71, vesting ratably over three years and expiring on the fourth anniversary of the grant date
RSU award: 155,938 restricted stock units vesting ratably on the first, second and third anniversaries of the grant date
Vesting may accelerate upon qualifying termination of employment
Option award agreement filed as Exhibit 10.1; RSU form agreement was previously filed with an 8-K on November 13, 2024
Adobe said Chief Strategy Officer and EVP Scott Belsky will resign effective March 15, 2025, to pursue another career opportunity. The filing also discloses a new 2025 Performance Share Program and a 2025 Executive Annual Incentive Plan for executive officers, with awards tied to relative stockholder return, Net New Sales, revenue and non-GAAP earnings per share.
Scott Belsky notified Adobe on January 24, 2025 of his resignation as Chief Strategy Officer and EVP, Design & Emerging Products, effective March 15, 2025.
The 2025 Performance Share Program has a three-year Relative TSR Goal (calendar 2025-2027) and a Net New Sales Goal, each weighted 50%, with payouts capped at 200% of target.
Chair and CEO Shantanu Narayen has a target Performance Share award of 73,837 shares, with a maximum of 147,674 shares.
The 2025 Executive Annual Incentive Plan requires at least 95% of the fiscal 2025 GAAP revenue target and 95% of the non-GAAP diluted EPS target before any bonus is paid.
Sprinklr appointed Jan R. Hauser and Stephen M. Ward, Jr. to its board, effective January 29, 2025, expanding the board from eight to ten directors. Audit Committee Chair Edwin Gillis will hand the chair role to Ms. Hauser on March 31, 2025 and leave the board on June 12, 2025, after which the board will have nine directors.
Jan R. Hauser appointed as a Class I director and Audit Committee member, effective January 29, 2025
Stephen M. Ward, Jr. appointed as a Class II director and Compensation Committee member, effective January 29, 2025
Edwin Gillis steps down as Audit Committee Chair effective March 31, 2025, and leaves the board June 12, 2025
Company extended Gillis's post-termination option exercise period for vested options until June 12, 2026
Western Digital said CEO David Goeckeler will resign, effective upon completion of the spin-off of its flash business, and Irving Tan, currently Executive Vice President of Global Operations, will succeed him as CEO. Goeckeler and two other directors will also leave the board to join Sandisk Corporation, the flash business that will become an independent public company.
Irving Tan will become CEO, succeeding David V. Goeckeler, effective upon completion of the Spin-Off; the board made the appointment on January 25, 2025.
Tan's base salary will rise to $1,000,000, with a short-term incentive target of 150% of base salary.
Tan will receive a promotion equity award with a grant date value of $6,500,000, and his fiscal 2026 annual LTI award is expected to increase to $11,500,000.
Directors David V. Goeckeler, Thomas Caulfield and Miyuki Suzuki will resign from the board effective with the Spin-Off, and Tan, Bruce Kiddoo and Roxanne Oulman will join it.
ASGN Incorporated (NYSE: ASGN) said President Rand Blazer will move to Executive Vice Chairman effective March 1, 2025, and will advise on strategic initiatives. Shiv Iyer, a former Accenture consulting executive, will become President as part of a planned succession. The filing does not discuss financial results or compensation changes, and it names ASGN Incorporated, not Everforth Inc (EFOR) as listed in the request.
Rand Blazer (75) resigns as President effective March 1, 2025, and becomes Executive Vice Chairman
Shiv Iyer, former Americas Consulting and Industry X Lead Executive at Accenture, will become President
Blazer and the company amended his employment agreement on January 29, 2025
Blazer was named President in 2022 and has been with the company since its 2012 combination with Apex Systems
Lantheus Holdings appointed Phuong Khanh (P.K.) Morrow, M.D., a former pharmaceutical executive focused on oncology, to its board of directors, effective February 1, 2025. The board expanded to eleven directors, nine of whom are independent, and Dr. Morrow will sit on the Science and Technology Committee. The filing describes a board seat, not a change in financial results or guidance.
Dr. Morrow was appointed by the board on January 29, 2025 and is effective February 1, 2025.
Board size increased to eleven directors; Dr. Morrow is a Class II Director with a term expiring at the 2026 annual meeting.
Director compensation: $60,000 annual cash retainer, $7,500 for Science and Technology Committee service, a $100,000 initial grant, and a $400,000 annual equity grant starting in 2025.
Dr. Morrow was previously Chief Medical Officer at CRISPR Therapeutics and held roles at Amgen; she currently leads oncology R&D at Takeda.
Tootsie Roll appointed Michael Adam Chodos, age 66, to its Board of Directors on January 27, placing him on the Audit and Compensation Committees. On January 26, director Barre A. Seibert resigned from the board after 20 years of service. The filing describes routine board changes and does not report any financial results or guidance.
Michael Adam Chodos, age 66, joined the board on January 27 and was appointed to the Audit and Compensation Committees
Chodos previously served as Chief Legal Officer and Corporate Secretary of Medsphere Systems Corporation from June 2020 to September 2023
Barre A. Seibert resigned from the board on January 26 following 20 years of service
Stepan Company said its Vice President, General Counsel and Secretary, David G. Kabbes, will retire effective March 14, 2025. He will remain in his day-to-day role until then and provide transition support for at least three months afterward, while the company searches for a successor.
David G. Kabbes, Vice President, General Counsel and Secretary, retires effective March 14, 2025
Kabbes will provide transition support for at least three months after retirement
Company has begun an internal and external search for a successor
On January 23, 2025, J.B. Hunt's board approved a new 2025 annual cash incentive plan for named executive officers. The bonus is weighted 70% on 2025 operating income and 15% each on revenue excluding fuel surcharge and the preventable collisions rate, measured against targets.
Plan approved January 23, 2025; payout follows completion of calendar year 2025
Chairman John Roberts and CEO Shelley Simpson: bonus of 37.5% to 300% of base salary, target 150%
Other named executive officers: bonus of 25% to 200% of base salary, target 100%
Payouts based on 85% to 115% of targeted amounts; calculation expected on or about January 15, 2026
McCormick & Company disclosed that director Patricia Little intends to retire from its board and will not stand for re-election. She will remain on the board until the next annual stockholders' meeting, currently scheduled for March 26, 2025. The filing describes a board transition with no financial figures, so it has no direct effect on reported results.
Patricia Little informed the Nominating and Corporate Governance Committee on January 27, 2025 of her retirement plan
She will not stand for election at the next annual stockholders' meeting, scheduled for March 26, 2025
Ms. Little will continue serving on the board until that meeting
The filing reports no financial figures or compensation changes
ADM said its board appointed Carrie Nichol as Vice President and Chief Accounting Officer, effective March 1, 2025, succeeding Molly Strader Fruit, who moves to a Vice President role in total rewards and HR operations. Nichol most recently served as Senior Vice President, Chief Accounting Officer and Global Process Leader at Cargill, and the filing sets out her initial pay package. The filing does not report financial results; the change concerns who leads ADM's accounting, internal control and insurance and risk management functions.
Carrie Nichol, age 45, becomes Vice President and Chief Accounting Officer effective March 1, 2025, and reports to Chief Financial Officer Monish Patolawala.
Initial pay includes a $550,000 base salary and a $500,000 target annual bonus under the 2025 cash incentive plan.
Equity award with about $1,315,000 target grant value (60% performance stock units, 40% restricted stock units), plus make-whole cash payments of $796,000 and $585,000 and a make-whole restricted stock unit award of about $980,000.
Carlisle Companies Incorporated elected Sheryl D. Palmer to its Board of Directors on January 28, 2025, fixing the board at 11 directors. The Board determined she is independent under New York Stock Exchange and SEC rules, and she received 111 restricted shares as part of the standard non-employee director compensation.
Palmer's term expires at the company's 2026 annual meeting of stockholders
Board size fixed at 11 directors following the election
Initial restricted stock award of 111 shares with a grant-date fair value of approximately $43,750
Palmer is President, CEO and Chairman of Taylor Morrison Home Corporation, per the press release
Central Pacific Financial Corp. appointed Dr. Diane S.L. Paloma, President and CEO of Hawaii Dental Service (HDS), to the boards of the company and Central Pacific Bank, effective January 28, 2025, and increased both boards to twelve directors. The filing also discloses that the bank paid approximately $390,000 to HDS in 2024 for its employee dental plan, and states that Dr. Paloma has no involvement in the bank's negotiation of that plan.
Dr. Diane S.L. Paloma appointed to both boards effective January 28, 2025; board size increased to twelve directors
Annual retainer of $125,000 for serving on both boards, consistent with other non-employee directors who do not chair committees
Dr. Paloma to serve on the Bank's Board Trust Committee
Bank paid approximately $390,000 to HDS in 2024 for its employee dental plan
NetApp announced that Wissam Jabre, formerly CFO of Western Digital, will become Executive Vice President and Chief Financial Officer effective March 10, 2025, replacing Michael J. Berry, who previously announced his retirement. Berry will stay on as a senior advisor to help with the transition. The change puts a new principal financial officer in charge of NetApp's finances, with compensation terms set out in the filing.
Wissam Jabre, age 55, becomes EVP and CFO effective March 10, 2025, replacing Michael J. Berry
Jabre's base salary is $750,000, with a 130% annual incentive target
Jabre will receive a $6,565,500 bonus, subject to repayment if he leaves within 24 months
Kimberly-Clark said Andrew Scribner, currently Chief Financial Officer of Kimberly-Clark North America, will become Vice President and Controller on June 1, 2025. The current Controller, Andrew S. Drexler, will move to a transitional role and retire on June 6, 2025. The filing says Scribner's compensation has not yet been determined and will be disclosed in a future amendment.
Andrew Scribner, 46, to be elected Vice President and Controller effective June 1, 2025
Andrew S. Drexler moves to a transitional role on June 1 and begins retirement on June 6, 2025
Scribner has been CFO of Kimberly-Clark North America since January 2023
Compensation for the Controller role has not yet been determined
Clorox said Chief Financial Officer Kevin Jacobsen will retire effective April 1, 2025, after nearly 30 years with the company, and will advise through June 2025. Treasurer Luc Bellet, a Clorox employee since 2006, was appointed to succeed him as Executive Vice President and Chief Financial Officer effective the same day. The filing discloses a planned leadership transition with no financial results or guidance changes.
Kevin Jacobsen retires as CFO effective April 1, 2025; advisory role until June 2025
Luc Bellet, age 46, appointed EVP and CFO effective April 1, 2025; currently Vice President and Treasurer since October 2023
Bellet's base salary set at $725,000, with short-term incentive target raised from 50% to 100% of salary
Bellet to receive restricted stock units with $400,000 aggregate fair value and performance shares with $600,000 target fair value
CFO Shaun P. Mara notified the company on January 27, 2025, that he will retire effective July 3, 2025, and will remain CFO until then. The company hired Christopher J. Bealer, whose most recent executive role was EVP Corporate Controller at Reckitt, as Senior Vice President of Finance effective April 1, 2025, and he is expected to succeed Mara as CFO on July 3. The planned transition gives shareholders a roughly three-month overlap period before the handover.
Shaun P. Mara will retire as CFO effective July 3, 2025, and resign from all company positions then.
Christopher J. Bealer starts as Senior Vice President of Finance on April 1, 2025, and is expected to become CFO on July 3, 2025.
Bealer has almost 23 years of consumer packaged goods experience and most recently led a global team of over 600 employees at Reckitt.
At the January 23, 2025 annual meeting, all 11 director nominees were elected, and Deloitte & Touche LLP was ratified as auditor with 94,462,324 votes for.
Floor & Decor appointed Bradley Paulsen, currently CEO of North America for Rentokil Initial plc, as President effective April 28, 2025, reporting to CEO Tom Taylor. President Trevor Lang's retirement is now set for March 1, 2025, with no severance and unvested equity forfeited, so the filing shows a planned leadership transition at the top of the management team.
Trevor S. Lang, President, retires March 1, 2025; he will receive no severance and unvested equity awards will be forfeited.
Bradley Paulsen, age 49, joins as President effective April 28, 2025, reporting to CEO Tom Taylor.
Paulsen's employment agreement provides an initial base salary of $800,000, a 100% target annual cash incentive, a $1.6 million sign-on bonus and a $3.7 million long-term equity award to be granted May 5, 2025.
Paulsen previously was CEO, North America at Rentokil Initial plc and CEO of Rexel USA, and spent nine years at The Home Depot.
Darden Restaurants director Nana Mensah notified the company on January 27, 2025 that he will retire from its Board of Directors effective January 28, 2025. The filing states his departure is not the result of any disagreement with the company, the Board or management about operations, policies or practices.
Nana Mensah notified Darden of his retirement from the Board on January 27, 2025.
Retirement is effective January 28, 2025.
The filing states there was no disagreement with the company, the Board or management.
U.S. Bancorp's board elected President Gunjan Kedia as chief executive officer effective April 15, 2025, and as a director, effective immediately. Andrew Cecere, the current chairman and CEO, will remain on the board as executive chairman. The filing sets no base salary or target bonus yet for Kedia, but it discloses a $10 million long-term incentive award, which is a planned leadership change that does not itself affect reported results.
Gunjan Kedia, 54, becomes President and CEO of U.S. Bancorp and U.S. Bank effective April 15, 2025
Andrew Cecere, CEO since April 2017 and chairman since April 2018, becomes executive chairman on April 15, 2025
Kedia's long-term incentive award is valued at $10 million as of the February 27, 2025 grant date, with 60% in performance-based restricted stock units
Base salary, target annual cash incentive for Kedia, and Cecere's executive chairman compensation have not been determined
Valley National Bancorp said director Avner Mendelson, a non-employee director who was Bank Leumi's designee, resigned from its board effective immediately, with notice given January 24, 2025. The company said the resignation was not due to any disagreement with the company, Valley National Bank or management, and Bank Leumi plans to seek a new designee to fill the seat. For shareholders, this is a routine board change that does not alter reported financial results.
Avner Mendelson notified the company of his resignation on January 24, 2025, effective immediately.
Mendelson was appointed as Bank Leumi's designee under the Investor Rights Agreement dated April 1, 2022.
The company states the resignation was not due to any disagreement with the company, Valley National Bank or management.
Bank Leumi intends to seek appointment of a new designee to the board.
Norfolk Southern elected Lori J. Ryerkerk, former chairman, CEO and president of Celanese Corp., to its board of directors on January 27, 2025. The appointment is made under the November 13, 2024 Cooperation Agreement with Ancora Catalyst Institutional, LP and its affiliates, and expands the board to 14 members. The filing does not include any financial results or guidance.
Lori J. Ryerkerk appointed to the board on January 27, 2025, expanding it to 14 members
Ryerkerk joins the Human Capital Management and Compensation and Governance and Nominating Committees
Appointment made under the Cooperation Agreement dated November 13, 2024 with Ancora parties; she will be on the slate for the 2025 annual meeting
Ryerkerk receives the same board compensation as other non-management directors
MarketAxess's board elected Roberto Hoornweg as a director on January 23, 2025, effective March 1, 2025. The board found him independent under NASDAQ rules and appointed him to its Risk Committee and Finance Committee. The filing describes a board addition and does not report any change to the company's financial results or outlook.
Board elected Roberto Hoornweg on January 23, 2025; service begins March 1, 2025
Appointed to the Risk Committee and Finance Committee, effective March 1, 2025
Most recently Co-Head, Corporate & Investment Banking at Standard Chartered, appointed April 2024
Company says he will receive the same compensation structure as other non-employee directors
Silgan Holdings elected Philippe Chevrier as Executive Vice President and Chief Operating Officer, effective February 3, 2025. He most recently served as President of the Americas and Global Fibers business at Hexcel Corporation, from January 2023 through January 2025. The filing sets out his pay and severance terms but does not describe any effect on Silgan's financial results.
Effective date is February 3, 2025; Mr. Chevrier is 49 years old.
Annual salary of $675,000, rising to $715,000 upon relocation to the Connecticut area; target annual bonus of 75% of salary.
$100,000 relocation bonus, plus eligibility for equity grants under the Second Amended and Restated Stock Incentive Plan.
Severance if terminated without cause equals his annual salary plus his target bonus for the year of termination.
Wolverine World Wide director Jodi Bricker told the Board on January 21, 2025 that she will not stand for re-election when her term expires at the 2025 Annual Meeting of Shareholders. She will remain on the Board until that meeting, and the filing says her decision did not stem from any disagreement with the Company over its operations, policies, or practices.
Notice given to the Board on January 21, 2025
Bricker will serve until the 2025 Annual Meeting of Shareholders
Filing states no disagreement with the Company on operations, policies, or practices
Guidewire Software's board appointed Jeff Sloan as a director effective January 21, 2025, and the company announced the appointment on January 27, 2025. Sloan is a former chief executive of Global Payments Inc. and has served on the board of Corpay since 2013, and his initial term runs through the 2025 annual meeting of stockholders, subject to re-election.
Appointed effective January 21, 2025; initial term runs through the Company's 2025 annual meeting of stockholders, subject to re-election
Served as chief executive officer of Global Payments Inc. through June 2023 and as its president from 2010 to 2013
Has served on the board of Corpay (NYSE: CPAY) since 2013
Will receive the Company's standard non-employee director compensation and director indemnification agreement; the filing gives no dollar amounts
On January 27, 2025, Las Vegas Sands' board elected Mark Besca as a new director, effective immediately. The filing says he is a non-employee director and will be compensated as described in the company's 2024 proxy statement, and it reports no related-party arrangements or transactions involving him.
Mark Besca elected to the board on January 27, 2025, effective immediately
Besca is a non-employee director; compensation follows the 'Director Compensation' section of the 2024 proxy statement filed March 29, 2024
No arrangements or related-party transactions involving Besca are disclosed
EPR Properties increased its Board of Trustees from nine to ten members and elected John Peter (JP) Suarez as an independent trustee, effective January 24, 2025. Mr. Suarez was also appointed to the Audit Committee and Nominating/Company Governance Committee, and the company disclosed no financial figures in the filing.
Board size increased from nine to ten members on January 24, 2025
Suarez previously served as Executive Vice President and Regional CEO at Walmart International until retiring in 2023
Suarez will serve until the 2025 annual shareholder meeting and receives standard non-employee trustee compensation
Company entered into an Indemnification Agreement with Suarez, in the same form used with other trustees
CSX appointed Ann Begeman, a former Surface Transportation Board member from 2011 to 2021, to its board of directors effective January 27, 2025, raising the board from twelve to thirteen directors. The board determined she does not qualify as independent under NASDAQ listing standards because she received $275,000 for regulatory and government affairs advice in fiscal 2024.
Appointed effective January 27, 2025; board size increases from twelve to thirteen directors.
Board found she is not independent under NASDAQ standards due to $275,000 in fiscal 2024 advisory payments.
Named to the Finance Committee; compensated as a non-employee director under the March 25, 2024 proxy statement.
Mondelez International appointed Brian Stevens as Senior Vice President, Corporate Controller and Chief Accounting Officer, effective February 10, 2025. Michael Call, principal accounting officer since August 2021, will move to Senior Vice President, Finance for North America on that date.
Brian Stevens, age 50, previously served as Chief Accounting Officer and Controller at Baxter International from December 2018 to September 2024
Stevens' base salary is $545,900, with a target annual incentive of 65% of base salary
Stevens' annual equity grant has a target value of $550,000, split 75% performance share units and 25% stock options
Michael Call remains Chief Accounting Officer until February 10, 2025
Independent director Walter M. Fiederowicz notified Photronics on January 21, 2025, that he will not seek re-election to the Board at this year's annual shareholder meeting. The company states his decision was not due to a disagreement over its operations, policies or practices.
Notice given January 21, 2025; 8-K filed January 24, 2025
Walter M. Fiederowicz is a current independent Board member
Departure takes effect at the 2025 annual shareholder meeting
No disagreement with the company on operations, policies or practices, per the filing
Marathon Petroleum said director Susan Tomasky notified the board on January 20, 2025, that she will retire effective at the close of the company's 2025 annual shareholder meeting, scheduled for April 30, 2025. The filing states her decision was not the result of any disagreement with the company, its management, the board or its committees.
Susan Tomasky notified the board on January 20, 2025 of her decision to retire.
Retirement takes effect upon conclusion of the 2025 annual shareholder meeting, to be held April 30, 2025.
The filing states the decision was not due to any disagreement on operations, policies or practices.
Remitly said its Chief Accounting Officer, Gail Miller, resigned effective February 28, 2025, and that the resignation did not stem from any disagreement over financial reporting or accounting. The board appointed Luke Tavis, currently the company's Vice President and Controller, to succeed her in the role effective the same date, with an equity award of 36,773 restricted stock units tied to the appointment.
Gail Miller resigned as Chief Accounting Officer effective February 28, 2025; notice given January 21, 2025
Luke Tavis, age 49, to become Chief Accounting Officer effective February 28, 2025, reporting to the CFO
Tavis's award totals 36,773 RSUs, with 28,667 vesting in tranches from May 25, 2028 through February 25, 2029
Macerich's board elected Devin Murphy, former President of Phillips Edison & Company, as a director effective February 1, 2025, and increased the board size from eight to nine members. The filing says Murphy is independent under NYSE rules and was not appointed to any board committee at the time of his appointment.
Devin I. Murphy elected to the board on January 17, 2025, effective February 1, 2025
Board size increased from eight to nine members, with eight of nine directors independent
Murphy served as President of Phillips Edison & Company from 2019 until 2024 and previously worked 28 years as an investment banker
Murphy will receive the standard non-employee director compensation and benefits, and the company intends to enter a standard indemnification agreement with him
Terreno Realty Corporation disclosed that director Dennis Polk told the Board on January 23, 2025 that he will not seek re-election at the 2025 Annual Meeting of Stockholders. Polk will remain on the Board and keep his committee roles through the meeting, and the company said his decision was not the result of any disagreement over its operations, policies or practices. The change is a planned board transition with no stated financial effect.
Dennis Polk informed the Board on January 23, 2025 that he will not stand for re-election as a director.
His departure takes effect after the 2025 Annual Meeting of Stockholders; he remains a director and committee member until then.
The company states the decision was not due to any disagreement with the company on operations, policies or practices.
Phibro Animal Health's Board appointed Joyce J. Lee as a Class II independent director, effective January 21, 2025. The appointment fills a current vacancy and raises Board membership to nine directors, six of them independent. The filing describes a board seat change and does not report any financial results or guidance.
Joyce J. Lee appointed Class II director effective January 21, 2025; expected to stand for election at the 2027 Annual Meeting
Board increases to nine directors, six of whom are independent
Lee was most recently President of Cobb Vantress LLC and previously held executive roles at Elanco, Bayer Animal Health, and Zoetis
Lee receives the same non-employee director compensation and the standard director indemnification agreement
Xcel Energy's board elected Devin Stockfish, president and CEO of Weyerhaeuser Company since 2019, as a director effective January 23, 2025, increasing the board from 13 to 14 members. The filing describes this as a board appointment with no financial results, guidance, or transaction disclosed, so it has no stated direct effect on Xcel's financial performance.
Devin Stockfish, 51, elected to the board on January 20, 2025, effective January 23, 2025, with a term expiring at the 2025 Annual Meeting of Shareholders
Board size increased from 13 to 14 directors; Stockfish named to the Finance Committee and the Operations, Nuclear, Environmental and Safety Committee
Stockfish will receive non-employee director compensation, prorated to the 2025 Annual Meeting, under the arrangement effective May 24, 2023
Westamerica Bancorporation said Senior Vice President and Treasurer John “Robert” A. Thorson will retire effective January 24, 2025, after more than 35 years of service. The company named John Sousa to succeed him as Senior Vice President and Treasurer effective January 27, 2025. The change is an internal management succession that the filing does not tie to any financial result.
Robert Thorson retires as Senior Vice President and Treasurer effective January 24, 2025, after over 35 years of service
John Sousa appointed Senior Vice President and Treasurer effective January 27, 2025
Sousa joined the company in July 2024 as Vice President and Assistant Treasurer
Before joining, Sousa spent over thirteen years at Bank of the West handling investment portfolio management, wholesale funding and derivatives execution
PNC said President Michael P. Lyons resigned effective January 23, 2025, to take the President and CEO-elect role at Fiserv. PNC Chairman and CEO William S. Demchak said the company has built a leadership team that he is confident will keep PNC on course to become one of the largest and most successful banks in the country.
Michael P. Lyons resigned as PNC President effective January 23, 2025
Lyons joined PNC in 2011 to lead Corporate & Institutional Banking and was named president in 2024
Lyons is taking the President & CEO-Elect role at Fiserv
The filing does not describe a successor or any change to compensation arrangements
AZZ Inc. appointed Jeff Vellines as President and Chief Operating Officer of its Precoat Metals segment, effective March 1, 2025, and moved Kurt Russell, the segment's current COO, into a newly created Senior Vice President and Chief Strategic Officer role. The filing describes the changes as part of succession planning and the company's strategic growth plan, and it discloses Vellines's fiscal 2026 pay package.
Jeff Vellines's fiscal 2026 base salary is $435,000, with a 70% target short-term incentive and equity targets based on 100% of base salary.
Kurt Russell moves to Senior Vice President and Chief Strategic Officer, focusing on growth initiatives, effective March 1, 2025.
Vellines's role expands to include Russell's former Precoat Metals COO duties, per CEO Tom Ferguson.
The board made the appointment on January 16, 2025; the company announced the changes in a press release dated January 23, 2025.
Prosperity Bancshares entered a Third Amended and Restated Employment Agreement with Chairman H.E. Timanus, Jr. on January 21, 2025. The main change is that change-in-control severance now requires a qualifying termination within a window from six months before to 18 months after a change in control, and it adds a bonus-based component.
Agreement dated January 21, 2025, replaces the prior agreement, which paid three times base salary on a change in control without a termination requirement
Under the new terms, severance of three times base salary and three times average annual bonus applies only on termination for Good Reason or without Cause, within six months before to 18 months after a change in control
Outstanding restricted stock vests upon a change in control, and the agreement permits personal investments in a competing business that do not interfere with his duties
Northern Trust elected former PwC global chairman Robert Moritz, effective March 1, 2025, and former American Express executive Richard Petrino, effective January 22, 2025, as directors. Both will receive standard non-employee director compensation, including equity awards prorated for their start dates.
Richard Petrino joined the board effective January 22, 2025; Robert Moritz joins effective March 1, 2025.
Both were also elected directors of The Northern Trust Company, the principal subsidiary.
Committee assignments have not yet been determined.
Moritz was global chairman of PricewaterhouseCoopers; Petrino was chief operating officer of American Express National Bank.
On January 21, 2025, Teledyne's Personnel and Compensation Committee authorized 2024 annual incentive bonuses and 2022-2024 Performance Plan payouts for five named executive officers, and the board ratified the actions. The committee also set 2025 bonus targets, a 2025-2027 restricted stock unit program, and a 2025-2027 Performance Plan, with awards tied to operating profit, revenue and total shareholder return.
Committee met on January 21, 2025; the Board of Directors ratified the actions.
2024 AIP bonuses: CEO Edwin Roks $769,800; CFO Stephen F. Blackwood $317,300; Executive Chairman Robert Mehrabian $1,176,100.
2022-2024 Performance Plan goals were achieved at 70.3% of target; Roks received $231,990 and Mehrabian $1,237,280.
2025 AIP target for the CEO is 120% of base salary; 2025-2027 restricted stock units vest only if total shareholder return reaches at least the 25th percentile of the S&P 500.
Dropbox appointed Warren Jenson, a former President and CFO of Nielsen, as a director on January 17, 2025, and to the board's Audit Committee. The filing describes standard non-employee director compensation and a standard indemnification agreement, with no financial terms disclosed for the appointment.
Board appointment effective January 17, 2025; Jenson also joins the Audit Committee
Jenson will receive the standard compensation for non-employee directors, described in the April 2, 2024 Proxy Statement
Company will enter its standard indemnification agreement with Jenson
Prior roles cited in Exhibit 99.1 include President and CFO of Nielsen and President of LiveRamp
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