West Pharmaceutical Services CFO Departs; Director Changes
Ticker: WST · Form: 8-K · Filed: Apr 26, 2024 · CIK: 105770
Sentiment: neutral
Topics: cfo-departure, board-changes, officer-compensation
Related Tickers: WST
TL;DR
CFO Bernard Young out at West Pharma (WST) as of 4/23. Director elections also filed.
AI Summary
On April 23, 2024, West Pharmaceutical Services, Inc. filed an 8-K report detailing several key events. The company announced the departure of its Chief Financial Officer, Bernard T. Young, effective April 23, 2024. Additionally, the filing includes information regarding the election of directors and updates on compensatory arrangements for certain officers.
Why It Matters
The departure of a CFO can signal shifts in financial strategy or internal confidence, while director changes may indicate evolving governance or strategic direction.
Risk Assessment
Risk Level: medium — The departure of a CFO and changes in board composition can introduce uncertainty regarding future financial strategy and leadership.
Key Players & Entities
- West Pharmaceutical Services, Inc. (company) — Registrant
- Bernard T. Young (person) — Chief Financial Officer
- April 23, 2024 (date) — Effective date of CFO departure
FAQ
Who has been appointed as the interim or permanent Chief Financial Officer following Bernard T. Young's departure?
The filing does not specify who has been appointed as the interim or permanent CFO.
What is the stated reason for Bernard T. Young's departure?
The filing does not provide a specific reason for Bernard T. Young's departure.
When did the reported director elections take place?
The filing indicates director elections as an item of information reported, but does not specify the exact date they occurred within the reporting period.
Are there any details provided about the compensatory arrangements of other officers?
The filing lists 'Compensatory Arrangements of Certain Officers' as an item of information, but the specific details are not included in the provided text.
What is the standard industrial classification for West Pharmaceutical Services, Inc.?
The standard industrial classification for West Pharmaceutical Services, Inc. is 'SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]'.
Filing Stats: 962 words · 4 min read · ~3 pages · Grade level 10.8 · Accepted 2024-04-26 16:16:16
Key Financial Figures
- $0.25 — ich registered Common Stock, par value $0.25 per share WST New York Stock Exchange
Filing Documents
- wst-20240423.htm (8-K) — 63KB
- wst-20240423_g1.jpg (GRAPHIC) — 17KB
- 0000105770-24-000035.txt ( ) — 234KB
- wst-20240423.xsd (EX-101.SCH) — 2KB
- wst-20240423_lab.xml (EX-101.LAB) — 21KB
- wst-20240423_pre.xml (EX-101.PRE) — 12KB
- wst-20240423_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. Our 2024 Annual Meeting of Shareholders was held virtually on April 23, 2024. Our shareholders voted on five proposals at the Annual Meeting. After the Proxy publication date, the U.S. Securities and Exchange Commission ("SEC") issued a No-Action Letter in our favor regarding the shareholder proposal included in the Proxy as Proposal 6. Therefore, that proposal was not presented at the 2024 Annual Shareholder Meeting, because it was duplicative of management Proposals 3 and 4. The proposals are described in detail in our proxy statement dated March 13, 2024. As of February 28, 2024, the record date, there were 73,205,367 shares of our common stock outstanding. Shareholders representing 67,175,691 or 91.76%, of the common shares outstanding were present virtually or were represented by proxy at the Annual Meeting. The final results for the votes on each proposal are set forth below. Proposal 1: Our shareholders elected the following directors to serve on our Board until the 2025 Annual Meeting of Shareholders by the following vote: Name For Against Abstain Broker Non-Votes Mark A. Buthman 64,065,422 781,915 124,206 2,204,148 William F. Feehery 62,874,525 1,981,149 115,869 2,204,148 Robert F. Friel 61,754,357 3,100,948 116,238 2,204,148 Eric M. Green 59,690,649 2,700,641 2,580,253 2,204,148 Thomas W. Hofmann 60,144,470 4,674,914 152,159 2,204,148 Molly E. Joseph 64,459,745 457,584 54,214 2,204,148 Deborah L. V. Keller 53,932,234 8,407,056 2,632,253 2,204,148 Myla P. Lai-Goldman 64,413,765 520,163 37,615 2,204,148 Stephen H. Lockhart 64,631,871 215,445 124,227 2,204,148 Douglas A. Michels 60,971,817 3,883,389 116,337 2,204,148 Paolo Pucci 59,965,005 4,889,598 116,940 2,204,148 Proposal 2: Our shareholders approved, on an advisory basis, our named executive officer compensation by the following vote: For Against Abstain Broker Non-Votes 61,974,315 2,926,263 70,965 2,204,148 Proposal
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibit No. Description 104 The cover page from the Company's Current Report on Form 8-K, dated April 23, 2024, formatted in Inline XBRL. 3 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. WEST PHARMACEUTICAL SERVICES, INC. /s/ Chad R. Winters Chad R. Winters Vice President, Chief Accounting Officer April 26, 2024 4 EXHIBIT INDEX Exhibit No. Description 104 The cover page from the Company's Current Report on Form 8-K, dated April 23, 2024, formatted in Inline XBRL. 5