Business Context and Reporting Period
This Form 8-K filing by Evercore Partners Inc. (Evercore) reports a corporate governance event dated July 24, 2012. The filing details the expansion of the Board of Directors and the appointment of a new director.
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 personnel changes and director compensation arrangements.
Material Changes
- Board Expansion: The Board of Directors increased its size to nine members.
- New Appointment: Robert B. Millard was appointed as a director and member of the Compensation Committee.
- Background: Mr. Millard is the Managing Partner of Realm Partners LLC and formerly held positions at Lehman Brothers, Inc. He also serves on the boards of L-3 Communications Corporation and Gulfmark Offshore, Inc.
Compensation and Outlook
In connection with his appointment, Mr. Millard received the following compensation under the Company's policy for non-management directors:
- One-time Grant: Restricted Stock Units (RSUs) valued at $50,000, vesting on the second anniversary of the grant date.
- Annual Grant: RSUs valued at $40,000, vesting on June 7, 2013.
- Annual Retainer: A prorated retainer of $70,000, payable in cash or a combination of cash and Class A common stock.
The filing states there are no undisclosed agreements or transactions required under Item 404(a) of Regulation S-K. No specific financial guidance or risk factors were disclosed in this document.
Investor Verification Checklist
- Verify the total number of Board members is now nine.
- Confirm Robert B. Millard's specific role on the Compensation Committee.
- Review the vesting schedule for the $50,000 one-time RSU grant and the $40,000 annual RSU grant.
- Check for any potential conflicts of interest given Mr. Millard's concurrent roles at Realm Partners LLC, L-3 Communications, and Gulfmark Offshore.