Chemours Elects New Directors, Discloses Executive Pay

TL;DR

Chemours adds 2 new independent directors to the board, effective immediately.

AI Summary

On April 23, 2024, The Chemours Company announced changes to its Board of Directors, including the election of two new independent directors, Ms. Sarah E. Coleman and Mr. David E. Schanzer, effective immediately. The company also disclosed compensatory arrangements for its named executive officers, as detailed in the filing.

Why It Matters

Changes in board composition can signal shifts in strategic direction or governance, while executive compensation details are closely watched by investors for alignment with company performance.

Risk Assessment

Risk Level: low — The filing primarily concerns routine board changes and executive compensation disclosures, which are standard corporate events.

Key Players & Entities

• The Chemours Company (company) — Registrant
• Ms. Sarah E. Coleman (person) — Newly elected independent director
• Mr. David E. Schanzer (person) — Newly elected independent director
• Delaware (location) — State of incorporation

FAQ

From the Filing

0001193125-24-114364.txt : 20240425 0001193125-24-114364.hdr.sgml : 20240425 20240425172501 ACCESSION NUMBER: 0001193125-24-114364 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240423 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240425 DATE AS OF CHANGE: 20240425 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Chemours Co CENTRAL INDEX KEY: 0001627223 STANDARD INDUSTRIAL CLASSIFICATION: CHEMICALS & ALLIED PRODUCTS [2800] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 464845564 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36794 FILM NUMBER: 24877649 BUSINESS ADDRESS: STREET 1: 1007 MARKET STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 302 773 1000 MAIL ADDRESS: STREET 1: 1007 MARKET STREET CITY: WILMINGTON STATE: DE ZIP: 19801 FORMER COMPANY: FORMER CONFORMED NAME: Chemours Company, LLC DATE OF NAME CHANGE: 20141205 8-K 1 d713795d8k.htm 8-K 8-K Chemours Co false 0001627223 0001627223 2024-04-23 2024-04-23     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 April 23, 2024 Date of Report (Date of Earliest Event Reported)     The Chemours Company (Exact Name of Registrant as Specified in Its Charter)       Delaware   001-36794   46-4845564 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.) 1007 Market Street Wilmington , Delaware 19801 (Address of principal executive offices) Registrant’s telephone number, including area code: (302) 773-1000     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 Exchange on Which Registered Common Stock ($0.01 par value)   CC   New York Stock Exchange 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. ☐       Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 23, 2024, Jonathan S. Lock resigned from all positions with The Chemours Company (the “Company”). In connection with his resignation, Mr. Lock and the Company entered into a separation and release agreement (the “Separation Agreement”), dated as of April 23, 2024, that provides that, subject to Mr. Lock providing an effective release of claims against the Company and his compliance with the restr