Moody's Reports Executive Changes and Compensation Arrangements
Ticker: MCO · Form: 8-K · Filed: Feb 23, 2024 · CIK: 1059556
| Field | Detail |
|---|---|
| Company | Moodys Corp /De/ (MCO) |
| Form Type | 8-K |
| Filed Date | Feb 23, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $10 million, $5 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, compensation, corporate-governance
Related Tickers: MCO
TL;DR
**Moody's just filed an 8-K about executive changes and compensation, so keep an eye out for details!**
AI Summary
Moody's Corporation filed an 8-K on February 23, 2024, reporting an event that occurred on February 20, 2024. The filing pertains to Item 5.02, specifically regarding the departure or election of directors or officers and compensatory arrangements. This indicates potential changes in leadership or executive compensation at Moody's.
Why It Matters
Changes in executive leadership or compensation can signal strategic shifts or financial health, impacting investor confidence and the company's future direction.
Risk Assessment
Risk Level: medium — Changes in leadership or compensation can introduce uncertainty, but the specific details are not yet disclosed, making the immediate impact unclear.
Key Players & Entities
- MOODYS CORP /DE/ (company) — Filer of the 8-K
- February 20, 2024 (date) — Date of earliest event reported
- February 23, 2024 (date) — Filing date of the 8-K
- Item 5.02 (null) — Relevant SEC filing item
FAQ
What is the purpose of this 8-K filing by Moody's Corporation?
The 8-K filing by Moody's Corporation is to report an event under Item 5.02, which covers the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
When did the event reported in this 8-K occur?
The earliest event reported in this 8-K occurred on February 20, 2024.
When was this 8-K filed with the SEC?
This 8-K was filed with the SEC on February 23, 2024.
What is the full name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is MOODY’S CORPORATION.
What specific details about the departure/election of officers or compensatory arrangements are provided in this filing?
This filing only indicates the category of the event (Item 5.02) but does not provide specific details about which officers departed or were elected, or the nature of any compensatory arrangements. Further details would be in the body of the 8-K document itself, which is not provided in this excerpt.
Filing Stats: 649 words · 3 min read · ~2 pages · Grade level 15.7 · Accepted 2024-02-23 16:05:01
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share MCO New York Stock Exchan
- $10 million — ator Awards, with a grant date value of $10 million and $5 million, respectively, are compo
- $5 m — h a grant date value of $10 million and $5 million, respectively, are composed of 67
Filing Documents
- d721168d8k.htm (8-K) — 28KB
- 0001193125-24-044494.txt ( ) — 187KB
- mco-20240220.xsd (EX-101.SCH) — 4KB
- mco-20240220_def.xml (EX-101.DEF) — 13KB
- mco-20240220_lab.xml (EX-101.LAB) — 23KB
- mco-20240220_pre.xml (EX-101.PRE) — 14KB
- d721168d8k_htm.xml (XML) — 7KB
02 APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
ITEM 5.02 APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS 3
SIGNATURES
SIGNATURES 4 2 Item5.02 Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 20, 2024, Moody's Corporation (the "Company") granted strategic incentive awards to the presidents of the Company's business units and certain other key business unit executives to further motivate and incentivize the upper-ranks of management to meet or exceed various challenging medium-term growth targets. The awards to the Presidents of Moody's Analytics ("MA") and Moody's Investors Service ("MIS"), the MA and MIS Growth Accelerator Awards, with a grant date value of $10 million and $5 million, respectively, are composed of 67% performance share units and 33% stock options. The performance share units will vest based on achievement of each business unit's respective performance goals (annualized recurring revenue growth and adjusted operating margin for MA and adjusted operating margin for MIS) over a four-year period ending on December 31, 2027 and the stock options vest 50% after two years and the remaining 50% after four years. Successful execution against the performance goals is intended to create significant incremental earnings and intrinsic value for Moody's stockholders. In addition, based on information regarding competitive market pay and expectations around realized and realizable compensation, the Company granted strategic incentive awards (performance share retention grants) to certain key personnel, including executives other than the Chief Executive Officer and the Presidents of MA and MIS. The awards, which are intended to promote retention and reinforce the achievement of certain financial and strategic goals, are entirely performance-based, consisting of performance share units that can be earned over a 24 month period ending on December 31, 2025. 3
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. MOODY'S CORPORATION By: /s/ Elizabeth M. McCarroll Elizabeth M. McCarroll Corporate Secretary and Associate General Counsel Date: February 23, 2024 4