Albemarle Corp: Board Changes and Executive Compensation Update
Ticker: ALB-PA · Form: 8-K · Filed: Oct 31, 2024 · CIK: 915913
| Field | Detail |
|---|---|
| Company | Albemarle CORP (ALB-PA) |
| Form Type | 8-K |
| Filed Date | Oct 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, executive-compensation, governance
Related Tickers: ALB
TL;DR
ALB adds two directors and updates CFO's pay package.
AI Summary
Albemarle Corporation (ALB) announced on October 28, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Pamela J. Craig and Mr. David J. Miller, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mr. Scott E. Tozier, which includes a base salary of $600,000 and potential performance-based bonuses.
Why It Matters
These changes indicate potential shifts in corporate governance and executive strategy at Albemarle, which could influence future financial performance and investor confidence.
Risk Assessment
Risk Level: low — The filing primarily concerns routine board appointments and executive compensation adjustments, which are standard corporate governance matters.
Key Numbers
- $600,000 — CFO Base Salary (Annual base salary for CFO Scott E. Tozier under new employment agreement.)
Key Players & Entities
- Albemarle Corporation (company) — Registrant
- Pamela J. Craig (person) — Newly elected director
- David J. Miller (person) — Newly elected director
- Scott E. Tozier (person) — Chief Financial Officer
- $600,000 (dollar_amount) — CFO's base salary
FAQ
Who were the new directors elected to Albemarle's Board?
Albemarle Corporation elected Ms. Pamela J. Craig and Mr. David J. Miller as new directors to its Board.
When were the new directors' appointments effective?
The appointments of Ms. Pamela J. Craig and Mr. David J. Miller were effective immediately as of October 28, 2024.
What is the base salary for Albemarle's CFO under the new agreement?
The new employment agreement for CFO Scott E. Tozier includes a base salary of $600,000.
What other compensation is mentioned for the CFO?
In addition to the base salary, the agreement with CFO Scott E. Tozier includes potential performance-based bonuses.
What is Albemarle Corporation's state of incorporation?
Albemarle Corporation is incorporated in Virginia.
Filing Stats: 620 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-10-31 17:20:27
Filing Documents
- alb-20241028.htm (8-K) — 24KB
- 0000915913-24-000152.txt ( ) — 178KB
- alb-20241028.xsd (EX-101.SCH) — 2KB
- alb-20241028_def.xml (EX-101.DEF) — 6KB
- alb-20241028_lab.xml (EX-101.LAB) — 27KB
- alb-20241028_pre.xml (EX-101.PRE) — 17KB
- alb-20241028_htm.xml (XML) — 4KB
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. ALBEMARLE CORPORATION Date: October 31, 2024 By: /s/ Neal R. Sheorey Neal R. Sheorey Executive Vice President and Chief Financial Officer