Schneider National, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Schneider National, Inc. on April 5, 2018. The filing reports a significant change in senior management, specifically the appointment of a new Chief Financial Officer and the upcoming retirement of the incumbent.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics for the company. The document focuses exclusively on executive compensation and personnel changes.
Material Changes
The primary material change is the leadership transition in the finance department:
- Appointment: Stephen L. Bruffett was appointed Executive Vice President and Chief Financial Officer, effective April 29, 2018.
- Departure: Lori A. Lutey, the current Executive Vice President and Chief Financial Officer, is retiring effective April 27, 2018.
Management Commentary and Compensation
Mr. Bruffett brings extensive experience from Con-way Inc. and YRC Worldwide Inc. His compensation package includes:
- Base Salary: $475,000 annually.
- Cash Incentive: Target of 89% of base salary.
- Equity Incentives:
- Restricted stock grant date value: $250,000.
- Performance shares target grant date value: $500,000.
- Stock options grant date value: $250,000.
- Other: One-time relocation benefits and eligibility for standard senior management benefit programs.
Investor Verification Checklist
- Verify the exact start date of Stephen L. Bruffett (April 29, 2018) and the retirement date of Lori A. Lutey (April 27, 2018).
- Review the Definitive Proxy Statement on Schedule 14A (filed March 8, 2018) for details on the benefit programs referenced for senior management.
- Confirm the total grant date value of the equity package ($1,000,000) against the company's current equity compensation plan limits.