Caesars Entertainment Appoints New CFO
Ticker: CZR · Form: 8-K · Filed: Jun 14, 2024 · CIK: 1590895
| Field | Detail |
|---|---|
| Company | Caesars Entertainment, INC. (CZR) |
| Form Type | 8-K |
| Filed Date | Jun 14, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: CZR
TL;DR
Caesars names new CFO, David Johnson, with $750K salary + bonus + $3M stock.
AI Summary
Caesars Entertainment, Inc. announced on June 11, 2024, the appointment of David M. Johnson as Chief Financial Officer, effective June 14, 2024. Johnson will receive an annual base salary of $750,000 and will be eligible for an annual bonus with a target of 100% of his base salary. He will also receive a long-term incentive award with a grant date fair value of $3,000,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can 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
- $750,000 — CFO Base Salary (Annual compensation for David M. Johnson.)
- 100% — CFO Bonus Target (Potential bonus as a percentage of base salary for David M. Johnson.)
- $3,000,000 — CFO Long-Term Incentive (Grant date fair value of stock award for David M. Johnson.)
Key Players & Entities
- Caesars Entertainment, Inc. (company) — Registrant
- David M. Johnson (person) — Appointed Chief Financial Officer
- $750,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual bonus percentage for new CFO
- $3,000,000 (dollar_amount) — Grant date fair value of long-term incentive award for new CFO
- June 11, 2024 (date) — Date of the report
- June 14, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Caesars Entertainment, Inc.?
David M. Johnson has been appointed as the new Chief Financial Officer.
When is the effective date for David M. Johnson's appointment as CFO?
The appointment is effective June 14, 2024.
What is David M. Johnson's annual base salary?
David M. Johnson's annual base salary is $750,000.
What is the target bonus for the new CFO?
The target annual bonus for David M. Johnson is 100% of his base salary.
What is the value of the long-term incentive award granted to the new CFO?
The long-term incentive award granted to David M. Johnson has a grant date fair value of $3,000,000.
Filing Stats: 1,465 words · 6 min read · ~5 pages · Grade level 9.7 · Accepted 2024-06-14 16:08:18
Key Financial Figures
- $0.00001 — ange on which registered Common stock, $0.00001 par value CZR NASDAQ Stock Market Ind
Filing Documents
- czr-20240611.htm (8-K) — 91KB
- exhibit101caesars-secondam.htm (EX-10.1) — 155KB
- 0001590895-24-000106.txt ( ) — 432KB
- czr-20240611.xsd (EX-101.SCH) — 2KB
- czr-20240611_def.xml (EX-101.DEF) — 14KB
- czr-20240611_lab.xml (EX-101.LAB) — 25KB
- czr-20240611_pre.xml (EX-101.PRE) — 15KB
- czr-20240611_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. The Company held its 2024 Annual Meeting on June 11, 2024. Present at the 2024 Annual Meeting, either in person or by proxy, were holders of 199,768,159 shares of the Company's common stock, constituting a quorum of the Company's outstanding shares. At the 2024 Annual Meeting, the Company's shareholders considered five proposals. Each of the proposals is discussed briefly below and is described in more detail in the Company's Proxy Statement filed with the Securities and Exchange Commission on April 29, 2024 (the "Proxy Statement"). Proposal 1: Election of Directors The shareholders elected the Company's nominees to the Board. The nominees for election to the Board, the number and type of votes cast with respect to each nominee, as well as the number of broker non-votes with respect to each nominee, were as follows: Nominee Votes For % Voted Votes Against % Voted Abstentions Broker Non-Votes Gary L. Carano 182,658,273 98.6 % 2,680,793 1.4 % 3,016,134 11,412,959 Bonnie S. Biumi 184,444,999 99.5 % 879,903 0.5 % 3,030,298 11,412,959 Jan Jones Blackhurst 184,430,553 99.5 % 908,049 0.5 % 3,016,598 11,412,959 Frank J. Fahrenkopf, Jr. 159,710,271 86.2 % 25,629,893 13.8 % 3,015,036 11,412,959 Kim Harris Jones 183,193,621 98.9 % 2,124,849 1.1 % 3,036,730 11,412,959 Don R. Kornstein 172,897,263 93.3 % 12,409,864 6.7 % 3,048,073 11,412,959 Courtney R. Mather 179,689,952 97.0 % 5,633,838 3.0 % 3,031,410 11,412,959 Michael E. Pegram 179,641,265 96.9 % 5,678,333 3.1 % 3,035,602 11,412,959 Thomas R. Reeg 184,377,755 99.5 % 985,441 0.5 % 2,992,004 11,412,959 David P. Tomick 183,645,455 99.1 % 1,676,995 0.9 % 3,032,750 11,412,959 Each of the foregoing directors was elected by a majority of the votes cast at the 2024 Annual Meeting at which a quorum was present. Proposal 2: Advisory Vote to Approve Named Executive Officer Compensation The shareholders approved, on an advisory basis, the compensation p
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Caesars Entertainment, Inc. Second Amended and Restated 2015 Equity Incentive Plan 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, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CAESARS ENTERTAINMENT, INC. Date: June 14, 2024 By: /s/ Edmund L. Quatmann, Jr. Edmund L. Quatmann, Jr. Chief Legal Officer, Executive Vice President and Secretary