Business Context and Reporting Period
This Form 8-K Current Report was filed by Chimera Investment Corporation on March 6, 2018. The filing addresses corporate governance changes regarding the Board of Directors, specifically the departure of a director and 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
- Director Departure: Paul Keenan, an independent member of the Board, notified the Company he will not stand for re-election at the 2018 Annual Meeting of Shareholders. His term ends on the day of the meeting. He reported no disagreements with the Company regarding operations, policies, or practices.
- Board Expansion and Appointment: The Board increased its size from eight to nine members. Debra W. Still was appointed as an independent director, effective immediately. Her term continues until the 2018 annual meeting or until her successor is elected.
- New Director Background: Ms. Still brings nearly four decades of experience in real estate finance. She currently serves as President and CEO of Pulte Financial Services and President of Pulte Mortgage, LLC.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary on market conditions. No specific risks or contingencies were disclosed in this report. The appointment of Ms. Still is subject to standard compensation policies and indemnification agreements previously disclosed in the Company's 2017 Proxy Statement.
Investor Verification Checklist
- Verify the exact date of the 2018 Annual Meeting of Shareholders to confirm the end of Paul Keenan's term.
- Review the Company's 2017 Proxy Statement for details on the standard compensation policies applicable to Ms. Still.
- Confirm the absence of any undisclosed disagreements or material interests related to the new director appointment.
- Check subsequent filings for the results of the 2018 Annual Meeting regarding the election of directors.