Innospec Appoints New CFO, Patrick S. Williams
Ticker: IOSP · Form: 8-K · Filed: Apr 3, 2024 · CIK: 1054905
Sentiment: neutral
Topics: executive-appointment, compensation
TL;DR
Innospec names new CFO, Patrick S. Williams, starting April 8th with a $375K salary + stock.
AI Summary
Innospec Inc. announced on April 3, 2024, the appointment of Patrick S. Williams as Chief Financial Officer, effective April 8, 2024. Williams will receive an annual base salary of $375,000 and will be eligible for an annual cash incentive award with a target of 50% of his base salary. He will also receive a one-time grant of restricted stock units valued at approximately $500,000.
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: low — This filing primarily concerns a routine executive appointment and compensation details, posing minimal immediate risk.
Key Numbers
- $375,000 — CFO Base Salary (Annual compensation for Patrick S. Williams)
- 50% — CFO Incentive Target (Potential annual cash incentive for Patrick S. Williams)
- $500,000 — CFO Stock Grant (Value of one-time restricted stock units for Patrick S. Williams)
Key Players & Entities
- Innospec Inc. (company) — Registrant
- Patrick S. Williams (person) — Appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- 50% (dollar_amount) — Target annual cash incentive for new CFO
- $500,000 (dollar_amount) — Value of one-time restricted stock unit grant for new CFO
- April 8, 2024 (date) — Effective date of CFO appointment
- April 3, 2024 (date) — Date of report
FAQ
Who has been appointed as the new Chief Financial Officer of Innospec Inc.?
Patrick S. Williams has been appointed as the new Chief Financial Officer of Innospec Inc.
When is Patrick S. Williams' appointment as CFO effective?
Patrick S. Williams' appointment as CFO is effective April 8, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Patrick S. Williams, is $375,000.
What is the target percentage for the annual cash incentive award for the new CFO?
The target percentage for the annual cash incentive award for the new CFO is 50% of his base salary.
What is the value of the one-time restricted stock unit grant for the new CFO?
The one-time grant of restricted stock units for the new CFO is valued at approximately $500,000.
Filing Stats: 417 words · 2 min read · ~1 pages · Grade level 12.2 · Accepted 2024-04-03 06:06:55
Filing Documents
- d806299d8k.htm (8-K) — 20KB
- 0001193125-24-085374.txt ( ) — 138KB
- iosp-20240403.xsd (EX-101.SCH) — 3KB
- iosp-20240403_lab.xml (EX-101.LAB) — 18KB
- iosp-20240403_pre.xml (EX-101.PRE) — 11KB
- d806299d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES 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. INNOSPEC INC. Date: April 3, 2024 By: /s/ David B. Jones David B. Jones Senior Vice President, General Counsel and Chief Compliance Officer