Business Context and Reporting Period
This Form 8-K was filed by Donnelley Financial Solutions, Inc. on October 26, 2016. The report details an amendment to the employment agreement of Daniel N. Leib, effective as of the filing date.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
The primary material change reported is the amendment to Mr. Leib's employment agreement, which includes the following adjustments:
- Base Salary: Increased to $700,000 per year.
- Target Bonus: Decreased to 100% of base salary.
- Severance Pay: Increased to two times Annualized Total Compensation, payable in equal installments over 24 months.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding future guidance, outlook, risks, contingencies, or unusual items. The document is strictly a disclosure of the amended compensatory arrangements.
Investor Verification Points
- Verify the specific definition of "Annualized Total Compensation" in the attached Exhibit 10.1 to calculate the exact potential severance liability.
- Confirm the effective date of the salary increase and bonus reduction relative to the current fiscal period.
- Review the full text of the Amendment (Exhibit 10.1) for any other modified terms not summarized in Item 5.02.