H&R Block, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by H&R Block, Inc. on March 11, 2016. The report discloses a corporate governance change involving the Board of Directors.
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 the appointment of a new director and does not contain financial performance data.
Material Changes
- Board Expansion: The Board of Directors increased its size from ten to eleven members.
- New Director: Angela N. Archon was elected to fill the vacancy created by the board expansion, effective immediately.
- Committee Assignments: The Board has not yet determined which committees Ms. Archon will serve on.
Compensation and Governance Details
Ms. Archon will receive standard compensation for non-employee directors, prorated for the 2015-2016 term. The compensation structure includes:
- Annual cash retainer: $60,000
- Annual equity retainer: $145,000 (payable in deferred stock units)
- Meeting fees: $2,000 per board meeting and $1,500 per committee meeting (capped at ten meetings per year per category)
The Company and Ms. Archon will enter into the standard form of indemnification agreement for directors and officers. No other transactions requiring disclosure under Item 404(a) of Regulation S-K were identified.
Investor Verification Checklist
- Verify the effective date of Angela N. Archon's appointment (March 11, 2016).
- Confirm the total number of directors on the Board (increased to eleven).
- Review the standard director compensation package details ($60,000 cash, $145,000 equity, meeting fees).
- Note that committee assignments for the new director are pending determination.