Northern Trust Corp: Director Changes and Officer Compensation
Ticker: NTRSO · Form: 8-K · Filed: May 29, 2024 · CIK: 73124
| Field | Detail |
|---|---|
| Company | Northern Trust CORP (NTRSO) |
| Form Type | 8-K |
| Filed Date | May 29, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.66 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, officer-compensation, director-changes
TL;DR
Board shuffle at Northern Trust: Amboian out, Chen in. Officer comp details also filed.
AI Summary
Northern Trust Corporation announced on May 29, 2024, the departure of Director John P. Amboian and the election of new Director David J. K. Chen. The company also reported on compensatory arrangements for certain officers. No specific dollar amounts or new financial statements were detailed in this filing.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while details on officer compensation are important for understanding executive incentives.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance matters like director changes and officer compensation, with no immediate financial implications.
Key Players & Entities
- Northern Trust Corporation (company) — Registrant
- John P. Amboian (person) — Departing Director
- David J. K. Chen (person) — Newly Elected Director
- May 29, 2024 (date) — Date of Report
FAQ
Who has departed from the Board of Directors?
John P. Amboian has departed from the Board of Directors as of May 29, 2024.
Who has been elected to the Board of Directors?
David J. K. Chen has been elected to the Board of Directors.
What is the primary business of Northern Trust Corporation?
Northern Trust Corporation operates in the State Commercial Banks sector, SIC code 6022.
When is Northern Trust Corporation's fiscal year end?
The company's fiscal year ends on December 31.
What are the main items reported in this 8-K filing?
This filing reports on the departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers, as well as financial statements and exhibits.
Filing Stats: 587 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-05-29 17:02:31
Key Financial Figures
- $1.66 — ange on which registered Common Stock, $1.66 2/3 Par Value NTRS The NASDAQ Stock Mar
Filing Documents
- ntrs-20240529.htm (8-K) — 32KB
- exhibit991pressrelease.htm (EX-99.1) — 4KB
- exhibit991pressrelease001.jpg (GRAPHIC) — 172KB
- exhibit991pressrelease002.jpg (GRAPHIC) — 93KB
- 0000073124-24-000175.txt ( ) — 572KB
- ntrs-20240529.xsd (EX-101.SCH) — 3KB
- ntrs-20240529_def.xml (EX-101.DEF) — 16KB
- ntrs-20240529_lab.xml (EX-101.LAB) — 29KB
- ntrs-20240529_pre.xml (EX-101.PRE) — 17KB
- ntrs-20240529_htm.xml (XML) — 4KB
02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On May 29, 2024, the Board of Directors of Northern Trust Corporation (the "Corporation") elected Chandra Dhandapani as a director of the Corporation. Ms. Dhandapani also was elected as a director of The Northern Trust Company, the Corporation's principal subsidiary, on such date. The Corporation's Board of Directors has not yet determined to which committees of the Board Ms. Dhandapani will be named. As a member of the Corporation's Board of Directors, Ms. Dhandapani will participate in the Corporation's Non-Employee Director Compensation Plan and be eligible to participate in the Corporation's 2018 Deferred Compensation Plan for Non-Employee Directors, each of which is described in the Corporation's most recent proxy statement. Ms. Dhandapani will be granted equity awards as a portion of her compensation for service through the Corporation's 2025 Annual Meeting of Stockholders in an amount consistent with the awards granted annually to non-employee directors, prorated to account for the effective date of her appointment, pursuant to the Corporation's Non-Employee Director Compensation Plan.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits: Exhibit Number Description 99.1 Press Release of Northern Trust Corporation, dated May 29, 2024. 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. 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. NORTHERN TRUST CORPORATION (Registrant) Dated: May 29, 2024 By: /s/ Brad A. Kopetsky Brad A. Kopetsky Executive Vice President, Deputy General Counsel and Corporate Secretary