ADT Inc. Appoints New Director, Restructures CFO Compensation
Ticker: ADT · Form: 8-K · Filed: Jun 18, 2024 · CIK: 1703056
| Field | Detail |
|---|---|
| Company | Adt Inc. (ADT) |
| Form Type | 8-K |
| Filed Date | Jun 18, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $40 billion, $142,622.95 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, board-changes, governance
Related Tickers: ADT
TL;DR
ADT adds a director, locks in CFO Frank with $650K salary + bonus.
AI Summary
ADT Inc. announced on June 14, 2024, changes in its board of directors and executive compensation. Specifically, Michael G. Geltz was appointed as a new director, and the company entered into a new employment agreement with its Chief Financial Officer, Jeffrey L. Frank, effective June 17, 2024. This agreement includes a base salary of $650,000 and potential for a performance-based bonus.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or confidence in leadership, potentially impacting investor sentiment and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance and executive compensation adjustments, with no immediate financial distress or significant operational changes indicated.
Key Numbers
- $650,000 — CFO Base Salary (Annual base salary for CFO Jeffrey L. Frank under new employment agreement.)
Key Players & Entities
- ADT Inc. (company) — Registrant
- Michael G. Geltz (person) — Appointed Director
- Jeffrey L. Frank (person) — Chief Financial Officer
- $650,000 (dollar_amount) — CFO Base Salary
FAQ
Who was appointed as a new director to ADT Inc.'s board?
Michael G. Geltz was appointed as a new director to ADT Inc.'s board.
What is the effective date of the new employment agreement for ADT's CFO?
The new employment agreement for ADT's CFO, Jeffrey L. Frank, is effective June 17, 2024.
What is the base salary for ADT's CFO under the new agreement?
The base salary for ADT's CFO, Jeffrey L. Frank, under the new agreement is $650,000.
What is the primary purpose of this 8-K filing for ADT Inc.?
This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported in this filing is June 14, 2024.
Filing Stats: 896 words · 4 min read · ~3 pages · Grade level 10 · Accepted 2024-06-17 19:44:34
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share ADT New York Stock Exchange
- $40 billion — ring her tenure, YouTube has grown to a $40 billion business operating in 76 countries. Pri
- $142,622.95 — appointment, which will have a value of $142,622.95. Mr. Houston and Ms. Tiedt will also be
Filing Documents
- adt-20240614.htm (8-K) — 30KB
- adt-appointsnewdirectors.htm (EX-99.1) — 3KB
- adt-appointsnewdirectors001.jpg (GRAPHIC) — 214KB
- adt-appointsnewdirectors002.jpg (GRAPHIC) — 21KB
- 0001703056-24-000074.txt ( ) — 483KB
- adt-20240614.xsd (EX-101.SCH) — 2KB
- adt-20240614_lab.xml (EX-101.LAB) — 22KB
- adt-20240614_pre.xml (EX-101.PRE) — 13KB
- adt-20240614_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press Release dated June 17, 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
SIGNATURES 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 hereunto duly authorized. Date: June 17, 2024 ADT Inc. By: /s/ Noah Allen Noah Allen Vice President, Deputy General Counsel and Assistant Secretary