CDW Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by CDW Corporation on December 22, 2020, reporting events occurring on December 17, 2020. The filing addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the appointment of a new director and does not contain financial performance data.
Material Changes
The Board of Directors increased its size from 11 to 12 directors. Anthony R. Foxx was elected to fill the newly created directorship, effective January 1, 2021. Mr. Foxx will serve on the Nominating and Corporate Governance Committee and the Audit Committee. The Board determined Mr. Foxx is independent under Nasdaq Global Select Market listing standards.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of business risks. Mr. Foxx will receive standard director fees and stock-based compensation as previously disclosed in the 2020 proxy statement. He will enter into the Company's standard indemnification agreement. There are no undisclosed arrangements regarding his selection, and he holds no material interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.
Key Facts for Investor Verification
- Anthony R. Foxx joins the Board effective January 1, 2021.
- Mr. Foxx brings experience as Chief Policy Officer at Lyft, Inc., former U.S. Secretary of Transportation, and former Mayor of Charlotte, NC.
- He will serve on the Audit and Nominating and Corporate Governance Committees.
- His compensation aligns with existing director fee structures disclosed in the 2020 proxy statement.
- He will stand for re-election at the 2021 Annual Meeting of Stockholders.