CBIZ, Inc. Announces Board and Executive Compensation Changes
Ticker: CBZ · Form: 8-K · Filed: Dec 3, 2024 · CIK: 944148
| Field | Detail |
|---|---|
| Company | Cbiz, Inc. (CBZ) |
| Form Type | 8-K |
| Filed Date | Dec 3, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $625,000, $1,700,000, $2,000,000, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: CBZ
TL;DR
CBIZ board shakeup and exec pay adjustments filed. Watch for new director and comp details.
AI Summary
CBIZ, Inc. announced on November 27, 2024, changes related to its board of directors and executive compensation. The filing details the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers. Specific details regarding the individuals involved and the exact nature of the compensatory arrangements are provided within the filing.
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 — This filing primarily concerns routine corporate governance and executive compensation matters, with no immediate indication of significant financial distress or operational disruption.
Key Players & Entities
- CBIZ, Inc. (company) — Registrant
- November 27, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 5959 Rockside Woods, Blvd. N. Suite 600 Independence, Ohio 44131 (address) — Principal executive offices
FAQ
Who is the departing director from CBIZ, Inc.'s board?
The filing indicates the departure of a director, but the specific name is not provided in the initial summary information.
Who is the newly elected director to the CBIZ, Inc. board?
The filing mentions the election of a new director, but the specific name is not detailed in the provided summary.
What specific changes were made to the compensatory arrangements for certain officers?
The filing notes updates to compensatory arrangements for certain officers, but the precise details of these changes are not elaborated in the summary.
What is the date of the earliest event reported in this 8-K filing for CBIZ, Inc.?
The date of the earliest event reported is November 27, 2024.
In which state is CBIZ, Inc. incorporated?
CBIZ, Inc. is incorporated in Delaware.
Filing Stats: 1,178 words · 5 min read · ~4 pages · Grade level 10.5 · Accepted 2024-12-03 08:46:12
Key Financial Figures
- $0.01 — ange On which registered Common Stock, $0.01 par value CBZ New York Stock Exchange
- $625,000 — Lakhia's base salary will initially be $625,000, his annual target short-term incentive
- $1,700,000 — t of equity awards with a fair value of $1,700,000, split equally between restricted stock
- $2,000,000 — ional equity grant with a fair value of $2,000,000 in the form of restricted stock units,
- $50,000 — RSUs and cash payments in the amount of $50,000 plus 1.5 times the sum of his annual ba
Filing Documents
- cbz-20241127.htm (8-K) — 29KB
- lakhiaemploymentagreement.htm (EX-10.1) — 75KB
- cbizcfopressrelease12324.htm (EX-99.1) — 10KB
- image_0.jpg (GRAPHIC) — 68KB
- image_1.jpg (GRAPHIC) — 2KB
- 0001628280-24-049666.txt ( ) — 353KB
- cbz-20241127.xsd (EX-101.SCH) — 2KB
- cbz-20241127_lab.xml (EX-101.LAB) — 21KB
- cbz-20241127_pre.xml (EX-101.PRE) — 12KB
- cbz-20241127_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On December 3, 2024, the Company issued a press release announcing the appointment of Mr. Lakhia and retirement of Mr. Grove. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 10.1 Employment Agreement, dated November 27, 2024, between the Company and Mr. Lakhia. 99.1 Press Release of CBIZ, Inc. dated December 3, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. Dated: December 3, 2024 CBIZ, Inc. By: /s/ Jaileah X. Huddleston Name: Jaileah X. Huddleston Title: Senior Vice President, Chief Legal Officer, and Corporate Secretary