Business Context and Reporting Period
Company: Assurant, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 30, 2009
Event: Disclosure of executive compensation practices regarding equity awards.
Financial Metrics
This filing does not contain financial data. No revenue, profit, cash flow, margins, debt, or liquidity metrics are reported in this document.
Material Changes
The filing reports no material changes to financial performance or operations. The sole disclosure concerns a confirmation of existing executive compensation policy.
Management Commentary and Other Events
On April 30, 2009, Assurant, Inc. informed the RiskMetrics Group of its intent to maintain its current practice of providing annual equity awards to its President and Chief Executive Officer. The company specified the following conditions for these awards:
- At least 50% of the annual equity awards (by share count) will be performance-based, contingent on achieving specific targets.
- The performance criteria and the difficulty of achievement will be disclosed in the proxy statement for each annual meeting of shareholders, in accordance with SEC regulations.
Key Facts for Investor Verification
- Verify the specific performance targets and difficulty metrics in the company's next annual proxy statement.
- Confirm that the 50% performance-based equity threshold is applied consistently in future compensation cycles.
- Note that this filing is a compliance disclosure to RiskMetrics Group and does not signal a change in corporate strategy or financial condition.