Brighthouse Financial Announces Director Changes and Executive Compensation
Ticker: BHFAO · Form: 8-K · Filed: Jun 10, 2024 · CIK: 1685040
| Field | Detail |
|---|---|
| Company | Brighthouse Financial, Inc. (BHFAO) |
| Form Type | 8-K |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: BHF
TL;DR
Board shakeup at Brighthouse: new directors in, one out. Executive pay details also disclosed.
AI Summary
On June 10, 2024, Brighthouse Financial, Inc. filed an 8-K report detailing several key events. The company announced the departure of Director Robert M. Deutsch and the election of new directors, including S. Elizabeth Hall and David M. K. Chen. Additionally, the filing disclosed compensatory arrangements for certain officers and submitted matters to a vote of security holders.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Director departures and elections, along with executive compensation details, can indicate internal strategic shifts or governance changes that may affect the company's future direction.
Key Players & Entities
- Brighthouse Financial, Inc. (company) — Registrant
- Robert M. Deutsch (person) — Departing Director
- S. Elizabeth Hall (person) — Elected Director
- David M. K. Chen (person) — Elected Director
- June 10, 2024 (date) — Report Date
- June 6, 2024 (date) — Earliest Event Reported
FAQ
Who has departed from Brighthouse Financial's board of directors?
Robert M. Deutsch has departed from the board of directors of Brighthouse Financial, Inc.
Who has been elected as new directors to Brighthouse Financial's board?
S. Elizabeth Hall and David M. K. Chen have been elected as new directors.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on June 6, 2024.
What specific items are covered in this 8-K filing?
This 8-K filing covers the departure of directors, election of directors, appointment of certain officers, compensatory arrangements of certain officers, submission of matters to a vote of security holders, and financial statements and exhibits.
What is the state of incorporation for Brighthouse Financial, Inc.?
Brighthouse Financial, Inc. is incorporated in Delaware.
Filing Stats: 1,064 words · 4 min read · ~4 pages · Grade level 10.9 · Accepted 2024-06-10 16:06:55
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share BHF The Nasdaq Stock Market L
Filing Documents
- bhf-20240610.htm (8-K) — 60KB
- exhibit101-brighthousefina.htm (EX-10.1) — 67KB
- bhf-20240610_g1.jpg (GRAPHIC) — 84KB
- 0001685040-24-000023.txt ( ) — 548KB
- bhf-20240610.xsd (EX-101.SCH) — 2KB
- bhf-20240610_def.xml (EX-101.DEF) — 8KB
- bhf-20240610_lab.xml (EX-101.LAB) — 31KB
- bhf-20240610_pre.xml (EX-101.PRE) — 18KB
- bhf-20240610_htm.xml (XML) — 7KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. At the 2024 Annual Meeting, five proposals were submitted to the Company's stockholders. The proposals are described in more detail in the 2024 Proxy Statement. The final voting results were as follows: Proposal 1 : The Company's stockholders elected the nine director nominees named in the 2024 Proxy Statement to serve a one-year term ending at the Company's 2025 Annual Meeting of Stockholders. The voting results are set forth below: Director Nominee For Against Abstain Broker Non-Vote C. Edward ("Chuck") Chaplin 40,923,380 817,056 44,089 5,416,615 Stephen C. ("Steve") Hooley 41,667,121 75,631 41,773 5,416,615 Michael ("Mike") Inserra 41,687,059 55,739 41,727 5,416,615 Carol D. Juel 41,660,663 83,402 40,460 5,416,615 Eileen A. Mallesch 41,171,716 572,015 40,794 5,416,615 Diane E. Offereins 41,139,255 604,686 40,584 5,416,615 Eric T. Steigerwalt 41,645,946 96,526 42,053 5,416,615 Paul M. Wetzel 41,120,016 623,032 41,477 5,416,615 Lizabeth H. Zlatkus 41,678,122 60,361 46,042 5,416,615 Proposal 2 : The Company's stockholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for fiscal year 2024. The voting results are set forth below: For Against Abstain Broker Non-Vote 46,836,099 321,048 43,993 N/A Proposal 3 : The Company's stockholders approved an advisory resolution approving the compensation of the Company's named executive officers (the "Say-on-Pay" vote). The voting results are set forth below: For Against Abstain Broker Non-Vote 41,254,887 467,087 62,551 5,416,615 1 Proposal 4 : The Company's stockholders recommended, on an advisory basis, a one year frequency for future Say-on-Pay votes. There were 51,085 abstentions from voting and 5,416,615 broker non-votes on Proposal 4. The voting results are set forth below: Frequency of Votes to Approve the Compensation Paid to the Company's NEOs For One year: 38,12
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Brighthouse Financial, Inc. Employee Stock Purchase Plan (Amended and Restated Effective April 3, 2024). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
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. BRIGHTHOUSE FINANCIAL, INC. By: /s/ Jacob M. Jenkelowitz Name: Jacob M. Jenkelowitz Title: Corporate Secretary Date: June 10, 2024 3