Sealed Air Elects New Directors, Two Depart Board
Ticker: SEE · Form: 8-K · Filed: Dec 4, 2024 · CIK: 1012100
| Field | Detail |
|---|---|
| Company | Sealed Air Corp/De (SEE) |
| Form Type | 8-K |
| Filed Date | Dec 4, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.10, $160,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, governance
TL;DR
Sealed Air board shakeup: Loken & Wilson in, Burke & Giffin out as of Nov 27.
AI Summary
Sealed Air Corporation announced on November 27, 2024, a change in its board of directors. Specifically, the company elected two new directors, Mr. Robert J. Loken and Ms. Jennifer L. Wilson, to its Board, effective immediately. This action follows the resignation of two existing directors, Mr. William J. Burke and Mr. David M. Giffin.
Why It Matters
Changes in board composition can signal shifts in strategic direction or governance priorities for the company.
Risk Assessment
Risk Level: low — This filing reports routine board changes and does not involve financial distress or significant operational shifts.
Key Players & Entities
- Sealed Air Corporation (company) — Registrant
- Robert J. Loken (person) — Newly Elected Director
- Jennifer L. Wilson (person) — Newly Elected Director
- William J. Burke (person) — Resigned Director
- David M. Giffin (person) — Resigned Director
- November 27, 2024 (date) — Effective date of board changes
FAQ
Who were the directors that resigned from Sealed Air's board?
Mr. William J. Burke and Mr. David M. Giffin resigned from the board.
When were the new directors elected to the board?
The new directors, Mr. Robert J. Loken and Ms. Jennifer L. Wilson, were elected effective November 27, 2024.
What is the primary reason for this 8-K filing?
This 8-K filing is primarily to report the departure of directors and the election of new directors to the company's Board.
What is Sealed Air Corporation's state of incorporation?
Sealed Air Corporation is incorporated in Delaware.
What is the principal executive office address for Sealed Air Corporation?
The principal executive office is located at 2415 Cascade Pointe Boulevard, Charlotte, North Carolina 28208.
Filing Stats: 520 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-12-04 07:24:44
Key Financial Figures
- $0.10 — ich Registered Common Stock, par value $0.10 per share SEE New York Stock Exchange
- $160,000 — nt to Mr. Pupkin in the gross amount of $160,000, less applicable taxes. SIGNATURE P
Filing Documents
- see-20241127.htm (8-K) — 28KB
- 0001628280-24-049853.txt ( ) — 148KB
- see-20241127.xsd (EX-101.SCH) — 2KB
- see-20241127_lab.xml (EX-101.LAB) — 21KB
- see-20241127_pre.xml (EX-101.PRE) — 12KB
- see-20241127_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 27, 2024, Sealed Air Corporation (the "Company") entered into an agreement with Sergio Pupkin, the Company's former Senior Vice President, Chief Growth & Strategy Officer, regarding the cancellation of the performance share units granted to him on February 21, 2023 under the Corporation's 2014 Omnibus Incentive Plan with performance goals based on certain environmental and social goals over a five-year performance period ending December 31, 2027 (the "ESG PSUs"). In accordance with the terms of the ESG PSUs, a prorated portion of Mr. Pupkin's ESG PSUs have remained outstanding following his retirement from the Company on December 31, 2023, and remain subject to performance results for the full performance period. The Company and Mr. Pupkin agreed to instead immediately cancel and terminate those outstanding ESG PSUs in exchange for a one-time cash payment to Mr. Pupkin in the gross amount of $160,000, less applicable taxes. 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. SEALED AIR CORPORATION By: /s/ Dustin J. Semach Name: Dustin J. Semach Title: President and Chief Financial Officer Date: December 4, 2024