Element Solutions Appoints New CFO, Grants Stock Awards
Ticker: ESI · Form: 8-K · Filed: Jun 5, 2024 · CIK: 1590714
| Field | Detail |
|---|---|
| Company | Element Solutions Inc (ESI) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Element Solutions names new CFO, Brian Johnson, starting June 10th with $500K salary and $1.5M stock grant.
AI Summary
Element Solutions Inc. announced on June 4, 2024, the appointment of Dr. Brian L. Johnson as Chief Financial Officer, effective June 10, 2024. Dr. Johnson will receive an annual base salary of $500,000 and will be eligible for a discretionary annual bonus. He will also be granted restricted stock units with a target value of $1,500,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact 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
- $500,000 — CFO Annual Salary (Dr. Brian L. Johnson's starting base salary.)
- $1,500,000 — CFO Stock Grant Value (Target value of restricted stock units awarded to the new CFO.)
Key Players & Entities
- Element Solutions Inc (company) — Registrant
- Dr. Brian L. Johnson (person) — Appointed Chief Financial Officer
- $500,000 (dollar_amount) — Dr. Johnson's annual base salary
- $1,500,000 (dollar_amount) — Target value of restricted stock units granted to Dr. Johnson
- June 10, 2024 (date) — Effective date of Dr. Johnson's appointment
- June 4, 2024 (date) — Date of the report
FAQ
Who has been appointed as the new Chief Financial Officer of Element Solutions Inc.?
Dr. Brian L. Johnson has been appointed as the new Chief Financial Officer.
When is Dr. Brian L. Johnson's appointment as CFO effective?
Dr. Brian L. Johnson's appointment is effective June 10, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Dr. Brian L. Johnson is $500,000.
What is the target value of the restricted stock units granted to the new CFO?
The target value of the restricted stock units granted to Dr. Brian L. Johnson is $1,500,000.
Over what period will the restricted stock units granted to the new CFO vest?
The restricted stock units granted to Dr. Brian L. Johnson will vest over three years.
Filing Stats: 949 words · 4 min read · ~3 pages · Grade level 12.4 · Accepted 2024-06-05 16:16:43
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share ESI New York Stock Exchange
Filing Documents
- esi-20240604.htm (8-K) — 59KB
- esi-20240604_g1.jpg (GRAPHIC) — 286KB
- 0001590714-24-000111.txt ( ) — 862KB
- esi-20240604.xsd (EX-101.SCH) — 2KB
- esi-20240604_lab.xml (EX-101.LAB) — 23KB
- esi-20240604_pre.xml (EX-101.PRE) — 13KB
- esi-20240604_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. On June 4, 2024, the Company held its 2024 annual meeting of stockholders (the "2024 Annual Meeting"). The proposals submitted to a stockholder vote at the meeting were described in detail in the Company's Definitive Proxy Statement for the 2024 Annual Meeting, as filed with the Securities and Exchange Commission on April 19, 2024 (the " Proxy Statement "). The Company's stockholders present at the meeting or by proxy represented 228,318,630 shares of common stock (or 94.32% of the 242,063,821 outstanding shares of common stock of the Company at April 8, 2024, the record date for the 2024 Annual Meeting). Set forth below are the final voting results for each of the proposals submitted to the Company's stockholders at the 2024 Annual Meeting. Proposal 1 - Election of Directors — The stockholders entitled to vote elected each of the eight director nominees set forth in the Proxy Statement to serve until the Company's 2025 annual meeting of stockholders or until his or her respective successor is duly elected and qualified. The voting results were as follows: Nominee For Against Abstain Broker Non-Votes Sir Martin E. Franklin 214,404,106 6,329,894 67,215 7,517,415 Benjamin Gliklich 219,789,607 942,789 68,819 7,517,415 Ian G.H. Ashken 197,222,963 23,436,490 141,762 7,517,415 Elyse Napoli Filon 220,539,867 193,821 67,527 7,517,415 Christopher T. Fraser 149,272,106 71,461,465 67,644 7,517,415 Michael F. Goss 203,108,203 17,623,851 69,161 7,517,415 E. Stanley O'Neal 198,467,218 22,266,569 67,428 7,517,415 Susan W. Sofronas 219,075,159 1,658,020 68,036 7,517,415 Proposal 2 - Say-on-Pay Vote — The proposal on the advisory resolution to approve the compensation of the Company's named executive officers received the following votes: For Against Abstain Broker Non-Votes 171,333,404 49,388,062 79,749 7,517,415 Proposal 3 - Approval of 2024 Incentive Compensation Plan - The proposal
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed or furnished herewith: Exhibit Number Description 10.1 Element Solutions Inc 2024 Incentive Compensation Plan (filed as Appendix A to the Company's Definitive Proxy Statement, as filed on April 19, 2024, and incorporated herein by reference) 104 Cover Page Interactive Data File (formatted as Inline XBRL)(furnished only) SIGNATURE 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. ELEMENT SOLUTIONS INC (Registrant) June 5, 2024 /s/ John E. Capps (Date) John E. Capps Executive Vice President, General Counsel and Secretary