Business Context and Reporting Period
This Form 8-K filing by Allegion plc, an Ireland-incorporated security solutions company, reports a corporate governance event dated April 9, 2014. The report was filed on April 15, 2014.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to executive compensation for a new board appointment.
Material Changes
The material change reported is the appointment of Mr. Dean I. Schaffer to the Board of Directors. He was also appointed to the Audit and Finance Committee and the Corporate Governance and Nominating Committee.
Management Commentary and Compensation Details
- Annual Retainer: Mr. Schaffer will receive an annual retainer fee of $210,000.
- Equity Grant: He received an initial grant of restricted stock units on April 9, 2014, with a value of $50,000.
Investor Verification Checklist
- Verify the total compensation package for Mr. Schaffer against the company's existing director compensation policy.
- Confirm the vesting schedule and terms for the $50,000 restricted stock unit grant.
- Review the updated composition of the Audit and Finance Committee and the Corporate Governance and Nominating Committee.