Owens Corning Appoints New CFO, Todd Cook
Ticker: OC · Form: 8-K · Filed: Apr 15, 2024 · CIK: 1370946
| Field | Detail |
|---|---|
| Company | Owens Corning (OC) |
| Form Type | 8-K |
| Filed Date | Apr 15, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
OC just hired a new CFO, Todd Cook, with a sweet compensation package.
AI Summary
On April 15, 2024, Owens Corning filed an 8-K report detailing the appointment of Todd M. W. Cook as the new Chief Financial Officer, effective April 15, 2024. Cook will receive an annual base salary of $550,000 and is eligible for a target annual incentive award of 100% of his base salary. He will also receive a one-time grant of restricted stock units valued at $2,000,000.
Why It Matters
The appointment of a new Chief Financial Officer is a significant leadership change that can impact investor confidence and the company's financial strategy.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $550,000 — CFO Base Salary (Annual compensation for new CFO Todd Cook.)
- 100% — CFO Incentive Target (Target annual incentive award for new CFO as a percentage of base salary.)
- $2,000,000 — CFO Stock Grant (Value of the one-time restricted stock unit grant for new CFO.)
Key Players & Entities
- Owens Corning (company) — Registrant
- Todd M. W. Cook (person) — Newly appointed Chief Financial Officer
- $550,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual incentive award percentage for new CFO
- $2,000,000 (dollar_amount) — Value of one-time restricted stock unit grant for new CFO
- April 15, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Owens Corning?
Todd M. W. Cook has been appointed as the new Chief Financial Officer of Owens Corning, effective April 15, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Todd M. W. Cook is $550,000.
What is the target annual incentive award for the new CFO?
The target annual incentive award for Todd M. W. Cook is 100% of his base salary.
What is the value of the one-time stock grant for the new CFO?
Todd M. W. Cook will receive a one-time grant of restricted stock units valued at $2,000,000.
When was the appointment of the new CFO effective?
The appointment of Todd M. W. Cook as Chief Financial Officer was effective April 15, 2024.
Filing Stats: 766 words · 3 min read · ~3 pages · Grade level 14.1 · Accepted 2024-04-15 16:17:55
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share OC New York Stock Exchang
Filing Documents
- d784692d8k.htm (8-K) — 30KB
- d784692dex991.htm (EX-99.1) — 279KB
- 0001193125-24-096232.txt ( ) — 452KB
- oc-20240415.xsd (EX-101.SCH) — 3KB
- oc-20240415_lab.xml (EX-101.LAB) — 17KB
- oc-20240415_pre.xml (EX-101.PRE) — 11KB
- d784692d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (b)Pro Forma Financial Information. The following unaudited pro forma combined financial information is filed as Exhibit 99.1 hereto and is incorporated herein by reference. Unaudited Pro Forma Combined Balance Sheet as of December 31, 2023; Unaudited Pro Forma Combined Statement of Earnings for the fiscal year ended December 31, 2023; and Notes to the Unaudited Pro Forma Combined Financial Information. (d)Exhibits. Exhibit No. Description 99.1 Unaudited Pro Forma Combined Financial Information 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Owens Corning Date: April 15, 2024 By: /s/ Todd W. Fister Todd W. Fister Executive Vice President and Chief Financial Officer