Visteon 8-K: Officer Changes/Compensatory Arrangements Reported

TL;DR

**Visteon just filed an 8-K about executive changes or pay, watch for details.**

AI Summary

Visteon Corporation filed an 8-K on January 3, 2024, reporting an event that occurred on January 2, 2024, related to Item 5.02, which covers the departure or appointment of officers and compensatory arrangements. This filing indicates a change in executive leadership or compensation structure, which could impact the company's strategic direction or financial performance. For investors, understanding these changes is crucial as they can signal shifts in corporate governance or future operational strategies, potentially affecting stock valuation.

Why It Matters

Changes in executive leadership or compensation can signal strategic shifts or financial impacts, directly influencing investor confidence and the company's future performance.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership or compensation, which can introduce uncertainty or signal strategic shifts, making it a medium risk event.

Analyst Insight

Investors should look for subsequent detailed disclosures from Visteon regarding the specific nature of the Item 5.02 event to understand its implications for leadership, strategy, and financial outlook.

Key Players & Entities

• VISTEON CORP (company) — the registrant filing the 8-K
• January 3, 2024 (date) — date of filing
• January 2, 2024 (date) — date of earliest event reported
• Item 5.02 (other) — SEC filing item for Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
• 001-15827 (other) — Commission File Number
• VC (other) — Trading Symbol for Common Stock
• The NASDAQ Stock Market LLC (other) — exchange where Common Stock is registered

FAQ

Key Financial Figures

• $250,000 — s will receive an annual base salary of $250,000 and be eligible for awards under the Co

Filing Documents

• vc-20240102.htm (8-K) — 24KB
• 0001111335-24-000003.txt ( ) — 147KB
• vc-20240102.xsd (EX-101.SCH) — 2KB
• vc-20240102_lab.xml (EX-101.LAB) — 24KB
• vc-20240102_pre.xml (EX-101.PRE) — 12KB
• vc-20240102_htm.xml (XML) — 3KB

From the Filing

vc-20240102 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported) January 3, 2024 ( January 2, 2024 ) VISTEON CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-15827 38-3519512 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) One Village Center Drive, Van Buren Township, Michigan 48111 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code ( 800 )- VISTEON Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.01 per share VC The NASDAQ Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o SECTION 5 - CORPORATE GOVERNANCE AND MANAGEMENT Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 2, 2024, the Company appointed Ms. Colleen E. Myers as Vice President and Chief Accounting Officer of the Company effective January 12, 2024. Prior to the appointment, Ms. Myers was Assistant Controller since May 2021 and Senior Manager, Reporting and Consolidations since joining the Company in June 2015. Prior to that she served as a financial reporting and internal audit supervisor at Masco Corporation. Ms. Myers earned a Masters in Business Administration from Walsh College, Bachelor of Arts degree major in Accounting from Michigan State University and is a certified public accountant. Masco is not a parent, subsidiary, or affiliate of the Company. Ms. Myers will receive an annual base salary of $250,000 and be eligible for awards under the Company's annual incentive bonus and long-term incentive program at target opportunities of 35% and 66% of her annual base salary, respectively. She will also participate in the other existing plans and benefit programs of the Company. There is no arrangement or understanding between Ms. Myers and any other person pursuant to which she was elected as an officer of the Company and there are no family relationships between Ms. Myers and any of the Company's directors or executive officers. There are no transactions to which the Company is a party and in which Ms. Myers has a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K. 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. VISTEON CORPORATION By: /s/Brett D. Pynnonen Brett D. Pynnonen Senior Vice President and Chief Legal Officer Date: January 3, 2024

View Full Filing

View this 8-K filing on SEC EDGAR