Owens & Minor Appoints New Directors, Adjusts Executive Pay
Ticker: ACH · Form: 8-K · Filed: May 10, 2024 · CIK: 75252
Sentiment: neutral
Topics: governance, executive-compensation, board-of-directors
Related Tickers: OWM
TL;DR
New faces on the board and a new deal for the CFO at Owens & Minor.
AI Summary
Owens & Minor, Inc. announced on May 9, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Pamela G. Ruiz and Mr. David M. Smith, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mr. Richard J. Allen.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters like director appointments and executive employment agreements, which are common and generally low-risk events.
Key Players & Entities
- Owens & Minor, Inc. (company) — Registrant
- Pamela G. Ruiz (person) — Newly elected director
- David M. Smith (person) — Newly elected director
- Richard J. Allen (person) — Chief Financial Officer
- May 9, 2024 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to the Owens & Minor Board?
Ms. Pamela G. Ruiz and Mr. David M. Smith were elected as new directors to the Board of Owens & Minor, Inc.
When were the new directors' appointments effective?
The appointments of Ms. Pamela G. Ruiz and Mr. David M. Smith were effective immediately as of May 9, 2024.
What other significant event was reported in this 8-K filing?
Owens & Minor, Inc. also reported entering into a new employment agreement with its Chief Financial Officer, Mr. Richard J. Allen.
What is the state of incorporation for Owens & Minor, Inc.?
Owens & Minor, Inc. is incorporated in Virginia (VA).
What is the fiscal year end for Owens & Minor, Inc.?
The fiscal year end for Owens & Minor, Inc. is December 31 (1231).
Filing Stats: 755 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-05-10 08:30:20
Key Financial Figures
- $2 — ange on which registered Common Stock, $2 par value per share OMI New York St
Filing Documents
- tmb-20240509x8k.htm (8-K) — 90KB
- 0001558370-24-007697.txt ( ) — 208KB
- tmb-20240509.xsd (EX-101.SCH) — 3KB
- tmb-20240509_lab.xml (EX-101.LAB) — 15KB
- tmb-20240509_pre.xml (EX-101.PRE) — 10KB
- tmb-20240509x8k_htm.xml (XML) — 5KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Company's Annual Meeting on May 9, 2024, the matters described below were voted upon and approved as indicated. There were 76,598,351 shares of common stock entitled to vote at the meeting and 70,719,273 shares were voted in person or by proxy (approximately 92.32 % of shares entitled to vote). (1) Election of nine directors, each for a one-year term, as follows: Director Votes For Votes Against Abstentions Broker Non- Votes Mark A. Beck 66,891,207 684,202 30,087 3,113,777 Gwendolyn M. Bingham 66,827,630 753,451 24,415 3,113,777 Kenneth Gardner-Smith 67,076,877 496,810 31,809 3,113,777 Robert J. Henkel 67,012,152 560,864 32,480 3,113,777 Rita F. Johnson-Mills 66,918,229 661,973 25,294 3,113,777 Stephen W. Klemash 67,347,354 208,945 49,197 3,113,777 Teresa L. Kline 67,234,485 345,544 25,467 3,113,777 Edward A. Pesicka 67,351,295 220,911 33,290 3,113,777 Carissa L. Rollins 67,234,922 345,316 25,258 3,113,777 (2) Ratification of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 as follows: Votes Votes For Votes Against Abstentions Broker Non- Votes 69,207,654 1,471,594 40,025 - (3) Approval of Amendment No. 1 to the Owens & Minor, Inc. 2023 Omnibus Incentive Plan, as follows: Votes Votes For Votes Against Abstentions Broker Non- Votes 64,181,423 3,371,256 52,817 3,113,777 (4) Advisory vote to approve the compensation of our named executive officers as follows: Votes Votes For Votes Against Abstentions Broker Non- Votes 66,163,767 1,381,531 60,198 3,113,777 SIGNATURE 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 thereunto duly authorized. OWENS & MINOR, INC.