Corebridge Financial Reports Key Executive & Board Changes
Ticker: CRBD · Form: 8-K · Filed: Jun 10, 2024 · CIK: 1889539
| Field | Detail |
|---|---|
| Company | Corebridge Financial, INC. (CRBD) |
| Form Type | 8-K |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-changes, material-agreement
Related Tickers: CRBG
TL;DR
CRBG exec/board shuffle, new agreements filed.
AI Summary
On June 10, 2024, Corebridge Financial, Inc. filed an 8-K report detailing the entry into a material definitive agreement, the departure and election of directors and officers, and compensatory arrangements. The filing also includes Regulation FD disclosures and financial statements/exhibits, with the earliest event reported on June 9, 2024.
Why It Matters
This filing signals significant shifts in Corebridge Financial's leadership and governance structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: medium — Changes in executive and board composition can introduce uncertainty regarding future strategy and operational stability.
Key Numbers
- 001-41504 — SEC File Number (Identifies the specific SEC filing for Corebridge Financial.)
- 95-4715639 — IRS Employer Identification No. (Tax identification number for Corebridge Financial.)
Key Players & Entities
- Corebridge Financial, Inc. (company) — Registrant
- 20240610 (date) — Filing Date
- 20240609 (date) — Earliest Event Reported Date
- SAFG Retirement Services, Inc. (company) — Former Company Name
FAQ
What specific material definitive agreement was entered into by Corebridge Financial?
The filing indicates the entry into a material definitive agreement but does not specify its details in the provided excerpt.
Who are the directors or officers that have departed from Corebridge Financial?
The filing mentions the departure of directors or certain officers but does not name them in the provided excerpt.
Were there any new elections or appointments of officers or directors?
Yes, the filing indicates the election of directors and the appointment of certain officers.
What is the primary business of Corebridge Financial, Inc. according to the SIC code?
The Standard Industrial Classification (SIC) code provided is 6311, which corresponds to LIFE INSURANCE.
When did Corebridge Financial, Inc. change its former name?
Corebridge Financial, Inc. changed its former name from SAFG Retirement Services, Inc. on October 20, 2021.
Filing Stats: 649 words · 3 min read · ~2 pages · Grade level 10.7 · Accepted 2024-06-10 06:30:24
Filing Documents
- crbg-20240609.htm (8-K) — 29KB
- exhibit991-8xk.htm (EX-99.1) — 13KB
- image_1.jpg (GRAPHIC) — 24KB
- image_2.jpg (GRAPHIC) — 11KB
- 0001628280-24-027386.txt ( ) — 247KB
- crbg-20240609.xsd (EX-101.SCH) — 2KB
- crbg-20240609_def.xml (EX-101.DEF) — 15KB
- crbg-20240609_lab.xml (EX-101.LAB) — 26KB
- crbg-20240609_pre.xml (EX-101.PRE) — 15KB
- crbg-20240609_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On June 9, 2024, American International Group, Inc. ("AIG") waived its right under the Separation Agreement (the "Agreement") dated as of September 14, 2022 and amended as of May 16, 2024 between AIG and Corebridge Financial, Inc. ("Corebridge") to include a majority of the candidates on each slate of candidates recommended by the Corebridge Board of Directors (the "Board") to Corebridge's stockholders in connection with a meeting of stockholders (each, a "Corebridge Slate"). The foregoing description of the waiver does not purport to be complete and is qualified in its entirety by reference to the full text of the waiver, a copy of which will be attached as an exhibit to Corebridge's Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 9, 2024, Christopher Schaper resigned as a member of the Board, effective immediately. Mr. Schaper served as a member of the Board pursuant to the Agreement. Following Mr. Schaper's resignation, the Board's size has been reduced to twelve directors.
01 Reg FD Disclosure
Item 7.01 Reg FD Disclosure. On June 10, AIG announced that it has met the requirements for the deconsolidation for accounting purposes of Corebridge. The deconsolidation is a result of Mr. Schaper's resignation and AIG's waiver of its right to include a majority of the candidates for election on each Corebridge Slate. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press release of Corebridge Financial, Inc., dated June 10, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE 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 hereunto duly authorized. Date: June 10, 2024 Corebridge Financial, Inc. By: /s/ Christine Nixon Name: Christine Nixon Title: Executive Vice President and General Counsel