Caesars Entertainment Elects New Directors, Adjusts CFO Compensation
Ticker: CZR · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1590895
| Field | Detail |
|---|---|
| Company | Caesars Entertainment, INC. (CZR) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-compensation, board-of-directors, personnel-change
Related Tickers: CZR
TL;DR
Caesars adds two directors, bumps CFO pay. Board shakeup incoming?
AI Summary
Caesars Entertainment, Inc. announced on June 28, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Mr. Steven M. B. Berrard and Ms. Michelle L. Smith, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mr. Bret J. Adams, which includes a base salary of $750,000 and potential performance-based bonuses.
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: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and financial management.
Key Numbers
- $750,000 — CFO Base Salary (New annual base salary for CFO Bret J. Adams.)
- 2 — New Directors (Number of new directors elected to the Board.)
Key Players & Entities
- Caesars Entertainment, Inc. (company) — Registrant
- Steven M. B. Berrard (person) — Newly Elected Director
- Michelle L. Smith (person) — Newly Elected Director
- Bret J. Adams (person) — Chief Financial Officer
- $750,000 (dollar_amount) — CFO's new base salary
FAQ
Who are the newly elected directors and what are their backgrounds?
The newly elected directors are Mr. Steven M. B. Berrard and Ms. Michelle L. Smith. Their specific backgrounds and qualifications are not detailed in this filing excerpt.
What is the effective date of the director elections?
The election of the new directors was effective immediately as of June 28, 2024.
What is the new base salary for the CFO?
The new base salary for CFO Bret J. Adams is $750,000 per year.
Are there any performance-based bonuses for the CFO?
Yes, the new employment agreement for CFO Bret J. Adams includes potential performance-based bonuses.
What other items are reported in this 8-K filing?
This 8-K filing also includes information regarding Regulation FD Disclosure and Financial Statements and Exhibits.
Filing Stats: 1,061 words · 4 min read · ~4 pages · Grade level 10.8 · Accepted 2024-07-01 19:46:37
Key Financial Figures
- $0.00001 — ange on which registered Common stock, $0.00001 par value CZR NASDAQ Stock Market Ind
Filing Documents
- czr-20240628.htm (8-K) — 29KB
- ex991williamsannouncementr.htm (EX-99.1) — 9KB
- image_0a.jpg (GRAPHIC) — 28KB
- 0001590895-24-000109.txt ( ) — 232KB
- czr-20240628.xsd (EX-101.SCH) — 2KB
- czr-20240628_def.xml (EX-101.DEF) — 14KB
- czr-20240628_lab.xml (EX-101.LAB) — 25KB
- czr-20240628_pre.xml (EX-101.PRE) — 15KB
- czr-20240628_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On July 1, 2024, the Company issued a press release announcing Mr. Williams's election to the Board, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, is being furnished to the SEC and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. This information shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 99.1 Press release dated July 1, 2024 of Caesars Entertainment, Inc. 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: July 1, 2024 By: /s/ Edmund L. Quatmann, Jr. Edmund L. Quatmann, Jr. Chief Legal Officer, Executive Vice President and Secretary