Employers Holdings, Inc. current report, 26 April 2017

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Employers Holdings, Inc. - Form 8-K Summary

Business Context and Reporting Period

This Current Report on Form 8-K was filed by Employers Holdings, Inc. on April 26, 2017. The filing discloses a corporate governance change involving the appointment of a new member to the Board of Directors.

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 and governance matters rather than financial performance.

Material Changes

The primary material change reported is the appointment of Michael J. McColgan as a member of the Board of Directors, effective July 1, 2017. Mr. McColgan will serve as a Class II director with a term expiring at the 2020 Annual Meeting of Stockholders. He is designated to serve on the Audit and Risk Committees.

Outlook, Commentary, and Compensation

Mr. McColgan is retiring as a Partner with PricewaterhouseCoopers, LLP on June 30, 2017, after a 38-year career. He will participate in the Company's non-employee director compensation program, which includes:

  • An annual cash retainer of $40,000 for non-employee Board members.
  • An annual cash retainer ranging from $10,000 to $15,000 for Board committee chairs.
  • Meeting fees ranging from $1,500 to $1,750 per meeting for Board committee members.
  • A potential grant of Restricted Stock Units (RSUs) to be considered by the Compensation Committee at a later date, adjusted for the time served between annual meetings.

The Company confirmed there are no arrangements or understandings between Mr. McColgan and other persons regarding his appointment, and he has no family relationships with current directors or executive officers.

Key Facts for Investor Verification

  • Effective date of the new director appointment is July 1, 2017.
  • Mr. McColgan will serve on the Audit and Risk Committees.
  • Specific RSU grant amounts for Mr. McColgan have not yet been determined by the Compensation Committee.
  • The filing contains no financial data or guidance updates.