Business Context and Reporting Period
This Form 8-K Current Report was filed by Oaktree Capital Group, LLC on February 16, 2023, covering events occurring on February 10, 2023. The filing addresses corporate governance changes, specifically the election of a new director and the resignation of a former director.
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 Resignation: D. Richard Masson resigned from the Board of Directors, creating a vacancy.
- Director Election: Mansco Perry was elected to the Board of Directors on February 10, 2023, to fill the vacancy.
- Committee Appointment: On February 14, 2023, Mr. Perry was appointed to the Audit Committee.
Compensation and Governance Details
Under the Company's director compensation policy, Mr. Perry will receive the following:
- Annual Cash Retainer: $100,000 for Board services.
- Audit Committee Retainer: $25,000 annually.
- Incentive Award: Eligible to receive an award; specific details will be disclosed in a future amendment.
The Company confirmed there are no related party transactions requiring disclosure under Item 404(a) of Regulations S-K and no undisclosed arrangements regarding Mr. Perry's selection.
Key Facts for Investor Verification
- Verify the effective dates of the director resignation and election (February 10, 2023).
- Confirm the specific terms of the incentive award for Mr. Perry once disclosed in a subsequent filing.
- Review the attached Press Release (Exhibit 99.1) for additional context on the Board composition.