DiamondRock Hospitality Appoints New CFO, Details Executive Compensation
Ticker: DRH · Form: 8-K · Filed: Mar 25, 2024 · CIK: 1298946
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
DiamondRock Hospitality names Mark Newman as new CFO, starting March 25th with a $450k salary.
AI Summary
DiamondRock Hospitality Co. announced on March 19, 2024, the appointment of Mark J. Newman as Chief Financial Officer, effective March 25, 2024. Newman will receive an annual base salary of $450,000 and is eligible for a discretionary annual cash bonus. The company also disclosed compensatory arrangements for its named executive officers.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. Details on executive compensation provide transparency into how the company incentivizes its top management.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and operational execution.
Key Numbers
- $450,000 — CFO Annual Base Salary (Compensation for Mark J. Newman)
Key Players & Entities
- DiamondRock Hospitality Co. (company) — Registrant
- Mark J. Newman (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- March 19, 2024 (date) — Date of report
- March 25, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of DiamondRock Hospitality Co.?
Mark J. Newman has been appointed as the new Chief Financial Officer.
When is the effective date for Mark J. Newman's appointment as CFO?
The appointment is effective March 25, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Mark J. Newman is $450,000.
What other compensation details are mentioned for the new CFO?
Mark J. Newman is eligible for a discretionary annual cash bonus.
What is the primary purpose of this 8-K filing?
The filing announces the departure of directors or certain officers, election of directors, appointment of certain officers, and details compensatory arrangements of certain officers, along with Regulation FD disclosures and financial statements/exhibits.
Filing Stats: 522 words · 2 min read · ~2 pages · Grade level 11 · Accepted 2024-03-25 08:54:12
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value DRH New York Stock Exchange
Filing Documents
- drh-20240319.htm (8-K) — 34KB
- exhibit99131924.htm (EX-99.1) — 6KB
- drhlogopressreleasea35.gif (GRAPHIC) — 2KB
- 0001298946-24-000039.txt ( ) — 205KB
- drh-20240319.xsd (EX-101.SCH) — 2KB
- drh-20240319_def.xml (EX-101.DEF) — 15KB
- drh-20240319_lab.xml (EX-101.LAB) — 27KB
- drh-20240319_pre.xml (EX-101.PRE) — 16KB
- drh-20240319_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
ITEM 7.01. Regulation FD Disclosure. A copy of the press release issued by the Company to announce the retirement of Mr. Tennis as discussed above is furnished as Exhibit 99.1 to this Current Report.
01. Financial Statements and Exhibits
ITEM 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are included with this report: Exhibit No. Description 99.1 Press Release 101.SCH Inline XBRL Taxonomy Extension Schema Document 101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document 101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File 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. DIAMONDROCK HOSPITALITY COMPANY Dated: March 25, 2024 By: /s/ Briony R. Quinn Briony R. Quinn Senior Vice President and Treasurer