Bristow Group Adds Two Directors to Board
Ticker: VTOL · Form: 8-K · Filed: Mar 21, 2024 · CIK: 1525221
| Field | Detail |
|---|---|
| Company | Bristow Group Inc. (VTOL) |
| Form Type | 8-K |
| Filed Date | Mar 21, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $300,000, $330,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-of-directors, governance, personnel-change
TL;DR
Bristow just added 2 new directors to its board, McGovern & Ryan. Board shakeup incoming?
AI Summary
Bristow Group Inc. announced on March 18, 2024, the election of two new directors, Michael J. McGovern and John J. Ryan, to its Board of Directors. McGovern, with extensive experience in the energy sector, and Ryan, a former executive at GE Aviation, will serve on the Audit Committee and Compensation Committee, respectively. This move aims to enhance the company's governance and strategic oversight.
Why It Matters
The addition of directors with specific industry and financial expertise can signal a commitment to strengthening corporate governance and strategic direction, potentially impacting investor confidence.
Risk Assessment
Risk Level: low — The filing reports routine board changes and director elections, which are common corporate governance events and do not inherently indicate significant financial or operational risk.
Key Players & Entities
- Bristow Group Inc. (company) — Registrant
- Michael J. McGovern (person) — Newly Elected Director
- John J. Ryan (person) — Newly Elected Director
- March 18, 2024 (date) — Date of earliest event reported
FAQ
Who are the newly elected directors to Bristow Group Inc.'s Board?
The newly elected directors are Michael J. McGovern and John J. Ryan.
On what date was the earliest event reported in this 8-K filing?
The earliest event reported was on March 18, 2024.
Which committees will the new directors serve on?
Michael J. McGovern will serve on the Audit Committee, and John J. Ryan will serve on the Compensation Committee.
What is Bristow Group Inc.'s principal executive office address?
The address is 3151 Briarpark Drive, Suite 700, Houston, Texas 77042.
What is Bristow Group Inc.'s IRS Employer Identification Number?
The IRS Employer Identification Number is 72-1455213.
Filing Stats: 860 words · 3 min read · ~3 pages · Grade level 10.9 · Accepted 2024-03-21 16:02:16
Key Financial Figures
- $0.01 — hange on which registered Common Stock $0.01 par value VTOL NYSE Item 5.02 Departu
- $300,000 — s. Ms. Anderson's base salary will be $300,000, her target bonus opportunity for the c
- $330,000 — one-time equity award in the amount of $330,000 consisting of restricted stock units. T
Filing Documents
- vtol-20240318.htm (8-K) — 30KB
- 0001525221-24-000014.txt ( ) — 175KB
- vtol-20240318.xsd (EX-101.SCH) — 2KB
- vtol-20240318_def.xml (EX-101.DEF) — 13KB
- vtol-20240318_lab.xml (EX-101.LAB) — 24KB
- vtol-20240318_pre.xml (EX-101.PRE) — 14KB
- vtol-20240318_htm.xml (XML) — 3KB
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. On March 18, 2024, Richard E. Tatum, Vice President, Chief Accounting Officer of Bristow Group Inc. (the "Company"), departed the Company. His departure from the Company is not the result of any dispute or disagreement with the Company's accounting principles or practices or financial statements and disclosures. The terms of Mr. Tatum's departure from the Company are expected to be substantially consistent with the terms of a "Qualifying Termination" as set forth in the Bristow Group Inc. Senior Executive Severance Plan effective October 20, 2022, which was filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q filed on November 3, 2022. On March 20, 2024, the Board of Directors of the Company appointed Donna Anderson to the position of Vice President, Chief Accounting Officer of the Company, effective as of March 25, 2024 (the "Effective Date"). Ms. Anderson, age 50, served at Cactus, Inc. as Vice President and Chief Accounting Officer from December 2019 to March 2024. She joined Cactus, Inc. in July 2019 as their Corporate Controller. Prior to joining Cactus, Inc., Ms. Anderson served as Controller at Seitel, Inc. from 2005 until July 2019. Prior to that role, she was employed by Waste Management, Inc. from 2002 to 2005 where her last position was Financial Reporting Manager for Recycle America Alliance (a division of Waste Management). Ms. Anderson started her career with KPMG LLP in 1996, where her last position was Audit Manager. Ms. Anderson graduated from Texas A&M University with a Bachelor of Business Administration in Accounting. She is a certified public accountant in the State of Texas. Ms. Anderson's base salary will be $300,000, her target bonus opportunity for the current fiscal year will be 50% of her then current base salary and her annual equity grant target under the Com
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. BRISTOW GROUP INC. Date: March 21, 2024 By: /s/ Elizabeth Matthews Elizabeth Matthews Senior Vice President, General Counsel, Head of Government Affairs, and Corporate Secretary