Corebridge Financial Appoints New CFO, Sets Compensation
Ticker: CRBD · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1889539
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
New CFO Shone lands $600K base + $2.5M stock award at Corebridge.
AI Summary
Corebridge Financial, Inc. announced on March 5, 2024, the appointment of Mr. Steven W. Shone as Chief Financial Officer, effective March 11, 2024. Mr. Shone will receive an annual base salary of $600,000 and will be eligible for the company's annual incentive plan. He will also receive a restricted stock award with a target value of $2,500,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $600,000 — CFO Base Salary (Annual compensation for Steven W. Shone.)
- $2.5M — CFO Stock Award (Target value of restricted stock award for Steven W. Shone.)
Key Players & Entities
- Corebridge Financial, Inc. (company) — The company filing the report.
- Steven W. Shone (person) — Newly appointed Chief Financial Officer.
- $600,000 (dollar_amount) — Annual base salary for the new CFO.
- $2,500,000 (dollar_amount) — Target value of the restricted stock award for the new CFO.
- March 11, 2024 (date) — Effective date of the new CFO's appointment.
- March 5, 2024 (date) — Date of the earliest event reported.
FAQ
What is Steven W. Shone's annual base salary?
Steven W. Shone's annual base salary is $600,000.
What is the target value of the restricted stock award for the new CFO?
The target value of the restricted stock award for the new CFO is $2,500,000.
When is Steven W. Shone's appointment as CFO effective?
Steven W. Shone's appointment as CFO is effective March 11, 2024.
Is the new CFO eligible for incentive plans?
Yes, Mr. Shone will be eligible for the company's annual incentive plan.
What is the vesting period for the new CFO's restricted stock award?
The restricted stock award vests over three years.
Filing Stats: 498 words · 2 min read · ~2 pages · Grade level 11.1 · Accepted 2024-03-11 16:17:24
Filing Documents
- crbg-20240305.htm (8-K) — 29KB
- exhibit991-8xk.htm (EX-99.1) — 8KB
- image_0a.jpg (GRAPHIC) — 16KB
- 0001628280-24-010233.txt ( ) — 208KB
- crbg-20240305.xsd (EX-101.SCH) — 2KB
- crbg-20240305_def.xml (EX-101.DEF) — 14KB
- crbg-20240305_lab.xml (EX-101.LAB) — 25KB
- crbg-20240305_pre.xml (EX-101.PRE) — 15KB
- crbg-20240305_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On March 11, 2024, the Company issued a press release announcing the appointment of Ms. Leone as a director, a copy of which is furnished as Exhibit 99.1 and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press release dated March 11, 2024 104 Cover Page to this Current Report on Form 8-K in Inline XBRL
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Corebridge Financial, Inc. Date: March 11, 2024 By: /s/ Christine Nixon Name: Christine Nixon Title: Executive Vice President and General Counsel