American Water Works Company, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by American Water Works Company, Inc. on February 18, 2015. The report discloses a corporate governance event regarding the appointment of a new independent director.
Key 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 personnel changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Mr. Karl F. Kurz as an independent director of the Company. His term is set to expire at the 2015 Annual Meeting of Stockholders. Mr. Kurz will serve on the finance and nominating/corporate governance committees.
Compensatory Arrangements and Outlook
Mr. Kurz's compensation includes:
- A prorated portion of the $75,000 annual retainer for the remainder of the current quarter.
- Reimbursement for expenses incurred attending board and committee meetings.
- 364 stock units representing his prorated share of the $85,000 annual equity compensation for service until the 2015 Annual Meeting.
The filing contains no guidance, outlook, risk factors, or discussion of unusual items beyond the director appointment.
Key Facts for Investor Verification
- Confirmation of Mr. Karl F. Kurz's appointment date and committee assignments.
- Verification of the specific stock unit grant count (364 units) and its relation to the annual equity compensation plan.
- Review of the 2015 Annual Meeting schedule to confirm the expiration of the director's term.