Leidos Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Leidos Holdings, Inc. on June 26, 2017. The filing addresses corporate governance changes, specifically the appointment of a new director 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 appointments and does not contain financial performance data.
Material Changes
Effective June 26, 2017, the Board of Directors appointed Frank Kendall III as a director. Mr. Kendall has been assigned to the following committees:
- Nominating and Corporate Governance Committee
- Classified Business Oversight Committee
- Innovation and Technology Committee
Compensatory Arrangements
Mr. Kendall is entitled to standard remuneration for non-management directors, structured as follows:
- Annual Cash Retainer: $70,000
- Meeting Fees: $2,000 per Board meeting and $2,000 per committee meeting attended
- Annual Equity Grant: Approximately $150,000 in value, allocated two-thirds in restricted stock and one-third in stock options
Outlook and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Frank Kendall III joined the Board of Directors effective June 26, 2017.
- Total annual fixed cash compensation for the new director is $70,000 plus meeting fees.
- Annual equity compensation is valued at approximately $150,000.
- The appointment was signed by Raymond L. Veldman, Senior Vice President and Deputy General Counsel, on June 28, 2017.