Chemours Appoints New Directors, Adjusts Executive Compensation

Ticker: CC · Form: 8-K · Filed: 2024-06-13T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, executive-compensation

TL;DR

Chemours adds 2 directors to the board and revises exec pay.

AI Summary

On June 12, 2024, The Chemours Company announced changes to its Board of Directors. Mark P. Vergnano and Dawn R. Riley have been appointed to the Board, effective immediately. Additionally, the company has entered into a new compensatory arrangement for its named executive officers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Board changes and executive compensation adjustments can introduce uncertainty regarding future strategic direction and management stability.

Key Players & Entities

FAQ

Who are the new members appointed to The Chemours Company's Board of Directors?

Mark P. Vergnano and Dawn R. Riley have been appointed to the Board of Directors.

When were the new directors appointed?

The new directors were appointed effective June 12, 2024.

What other significant event is reported in this 8-K filing?

The filing also reports on compensatory arrangements for certain officers.

What is the principal executive office address for The Chemours Company?

The principal executive offices are located at 1007 Market Street, Wilmington, Delaware 19801.

What is the IRS Employer Identification Number for The Chemours Company?

The IRS Employer Identification Number is 46-4845564.

From the Filing

0000950170-24-073084.txt : 20240613 0000950170-24-073084.hdr.sgml : 20240613 20240613163644 ACCESSION NUMBER: 0000950170-24-073084 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240612 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: 20240613 DATE AS OF CHANGE: 20240613 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: 241041763 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 cc-20240612.htm 8-K 8-K 0001627223 false 0001627223 2024-06-12 2024-06-12     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   June 12, 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   (Commission   (I.R.S. Employer Of Incorporation)   File Number)   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 June 12, 2024, the Board of Directors (the “Board”) of The Chemours Company (the “Company”) appointed Livingston “Tony” Satterthwaite as a member of the Board, effective June 12, 2024. In connection with Mr. Satterthwaite’s appointment, the Board will increase its size from nine to ten members, effective June 12, 2024, with nine of those members, including Mr. Satterthwaite, qualifying as independent

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