Arrow Electronics 8-K: Officer Changes & Compensation on Feb 21
Ticker: ARW · Form: 8-K · Filed: Feb 22, 2024 · CIK: 7536
Sentiment: neutral
Topics: officer-changes, compensatory-arrangements, 8-K
TL;DR
**Arrow Electronics just filed an 8-K about officer changes and compensation arrangements from Feb 21!**
AI Summary
ARROW ELECTRONICS, INC. filed an 8-K on February 22, 2024, reporting an event that occurred on February 21, 2024. The filing pertains to Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers," and Item 9.01, "Financial Statements and Exhibits." The company's business address is 9151 East Panorama Circle, Centennial, CO 80112.
Why It Matters
Changes in executive leadership and compensation structures can signal strategic shifts or impact investor confidence in a company's future direction.
Risk Assessment
Risk Level: medium — Changes in officer compensatory arrangements can introduce both opportunities and risks depending on the specifics, which are not detailed in this summary.
Key Players & Entities
- ARROW ELECTRONICS, INC. (company) — Registrant
- February 21, 2024 (date) — Date of earliest event reported
- February 22, 2024 (date) — Filing date
- 9151 East Panorama Circle, Centennial, CO 80112 (company) — Business address
- New York (company) — State of Incorporation
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 21, 2024.
What items were reported in this 8-K filing by ARROW ELECTRONICS, INC.?
The 8-K filing reported on Item 5.02, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers," and Item 9.01, "Financial Statements and Exhibits."
What is the business address of ARROW ELECTRONICS, INC.?
The business address of ARROW ELECTRONICS, INC. is 9151 East Panorama Circle, Centennial, CO 80112.
When was this 8-K filed with the SEC?
This 8-K was filed with the SEC on February 22, 2024.
What is the state of incorporation for ARROW ELECTRONICS, INC.?
ARROW ELECTRONICS, INC. is incorporated in New York.
Filing Stats: 889 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-02-22 16:15:21
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value ARW New York Stock Exchange
- $300,000 — 4, Mr. Cho's annual base salary will be $300,000, and his target award under the Company
- $160,000 — ny's annual cash incentive plan will be $160,000. The actual amount of any cash incentiv
- $75,000 — fective Date with a grant-date value of $75,000 and a one-time award of performance sto
Filing Documents
- tm246724d1_8k.htm (8-K) — 27KB
- 0001104659-24-026538.txt ( ) — 196KB
- arw-20240221.xsd (EX-101.SCH) — 3KB
- arw-20240221_lab.xml (EX-101.LAB) — 33KB
- arw-20240221_pre.xml (EX-101.PRE) — 22KB
- tm246724d1_8k_htm.xml (XML) — 3KB
02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS,
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS, APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On and effective as of February 21, 2024 (the " Effective Date "), the Board of Directors (the " Board ") of Arrow Electronics, Inc. (the " Company ") approved the appointment of Yun Sung Cho, age 52, as Vice President, Corporate Controller, and Chief Accounting Officer of the Company. As of the Effective Date, Mr. Cho succeeds Richard Seidlitz as principal accounting officer of the Company. The Company has planned for and anticipated this transition, and in connection therewith, Mr. Seidlitz has been offered and has accepted another senior financial-management role within the Company. The Company believes Mr. Seidlitz's new position will provide him with an opportunity to utilize his skillset and deep institutional knowledge to benefit the Company and further his professional development. Since 2021, Mr. Cho served as the Company's Vice President, Finance – Shared Services. In that position, he served as the Company's assistant controller and led the Company's finance shared services for the Americas and the Europe, Middle East and Africa regions. Prior to that, from 2017 to 2021, Mr. Cho served as the Company's Assistant Controller, and from 2010 to 2017, he served in roles of increasing seniority within the Company's accounting, SOX compliance, and reporting functions. Mr. Cho began his career as an auditor for KPMG. Mr. Cho is a Certified Public Accountant and holds a B.S. in Accounting and B.S. in Finance from the University of Southern California. In connection with his appointment as Vice President, Corporate Controller, and Chief Accounting Officer of the Company, effective March 2, 2024, Mr. Cho's annual base salary will be $300,000, and his target award under the Company's annual cash incentive plan will be $160,000. The actual amount of any cash incentive award to Mr. Cho remains subject to approval
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) EXHIBITS Exhibit Number Description 104 Cover Page Interactive Data File (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. ARROW ELECTRONICS, INC. Date: February 22, 2024 By: /s/ Carine Jean-Claude Name: Carine Jean-Claude Title: Senior Vice President, Chief Legal Officer and Secretary