Kaiser Aluminum Announces Board and Executive Compensation Changes
Ticker: KALU · Form: 8-K · Filed: Jun 11, 2024 · CIK: 811596
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: KALU
TL;DR
Kaiser Aluminum shakes up its board and executive pay structure effective June 11th.
AI Summary
Kaiser Aluminum Corporation announced on June 11, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory plans for key executives. These changes are effective as of June 11, 2024.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in corporate governance and executive compensation can sometimes precede or accompany significant strategic shifts or financial performance adjustments.
Key Players & Entities
- KAISER ALUMINUM CORP (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- June 11, 2024 (date) — Effective date of reported events
FAQ
What specific roles have seen departures or appointments among officers and directors?
The filing indicates the departure of certain officers and the election of new directors, but does not specify the exact roles in this summary section.
What is the effective date of these changes?
The changes reported in this Form 8-K are effective as of June 11, 2024.
What type of compensatory arrangements have been updated?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details of these arrangements are not provided in the summary.
Where is Kaiser Aluminum Corporation's principal executive office located?
Kaiser Aluminum Corporation's principal executive office is located at 1550 West McEwen Drive, Suite 500, Franklin, Tennessee 37067.
What is the Commission File Number for Kaiser Aluminum Corporation?
The Commission File Number for Kaiser Aluminum Corporation is 1-09447.
Filing Stats: 1,402 words · 6 min read · ~5 pages · Grade level 12 · Accepted 2024-06-11 16:15:11
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share KALU Nasdaq Global Select
Filing Documents
- kalu-20240611.htm (8-K) — 65KB
- kalu-ex10_1.htm (EX-10.1) — 237KB
- 0000950170-24-071912.txt ( ) — 449KB
- kalu-20240611.xsd (EX-101.SCH) — 24KB
- kalu-20240611_htm.xml (XML) — 5KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. Below are the matters that were voted upon at the 2024 Annual Meeting and the final voting results as reported by our inspector of elections. 1. Election of Directors - The stockholders elected four Class III directors, each for a term expiring at the Company's 2027 Annual Meeting of Stockholders. Each received the affirmative vote of a majority of the votes cast at the 2024 Annual Meeting. The voting results were as follows: Nominee Name Votes For Votes Withheld Broker Non-Votes Michael C. Arnold 11,782,382 3,142,541 403,840 David. A. Foster 14,486,159 438,764 403,840 Richard P. Grimley 14,691,574 233,349 403,840 The other directors with terms continuing after the 2024 Annual Meeting are Keith A. Harvey, Jack. A. Hockema, Lauralee E. Martin, Teresa M. Sebastian, Donald J. Stebbins, Brett E. Wilcox and Kevin W. Williams. 2. Advisory Vote on Executive Compensation - The Company's stockholders approved, on an advisory, non-binding basis, the compensation of the Company's named executive officers. The voting results were as follows: For Against Abstain Broker Non-Votes 14,701,082 206,850 17,036 403,840 The number of shares voting "for" constituted 98.5% of the total number of shares represented and entitled to vote at the meeting and actually voted on the proposal. 3. Ratification of the Selection of Independent Registered Public Accounting Firm - The Company's stockholders ratified the selection of Deloitte & Touche LLP as the independent registered public accounting firm for the Company for 2024. The voting results were as follows: For Against Abstain 15,112,035 211,515 4,257 The number of shares voting "for" constituted 98.6% of the total number of shares represented and entitled to vote at the meeting and actually voted on the proposal. 4. Approval of the Amendment and Restatement of the Kaiser Aluminum Corporation 2021 Equity a
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 10.1 Kaiser Aluminum Corporation 2021 Equity and Incentive Compensation Plan (Amended and Restated Effective June 11, 2024). 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, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KAISER ALUMINUM CORPORATION Date: June 11, 2024 By: /s/ Cherrie I. Tsai Cherrie I. Tsai Vice President, Deputy General Counsel and Corporate Secretary