Business Context and Reporting Period
This Form 8-K is filed by Altice USA, Inc. (not Optimum Communications, Inc.) on November 3, 2017, reporting events occurring on October 30, 2017. The filing primarily announces the appointment of a new director and incorporates by reference the press release regarding financial results for the quarter ended September 30, 2017.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained in the press release dated November 2, 2017, which is attached as Exhibit 99.1 and incorporated by reference into Item 2.02.
Material Changes
Corporate Governance Change: On October 30, 2017, the Board of Directors appointed Manon Brouillette as a director, effective October 31, 2017. She serves until the 2018 annual meeting of stockholders. Additionally, she was appointed to the Audit Committee and the Compensation Committee.
Guidance, Outlook, and Compensation
Director Compensation: Ms. Brouillette will participate in the non-employee director compensation program with the following annual retainers:
- Base Retainer: $72,500
- Audit Committee Retainer: $22,500
- Compensation Committee Retainer: $5,000
Outlook and Risks: The filing text does not contain specific management commentary, guidance, risk factors, or contingencies. These details are referenced in the incorporated Exhibit 99.1 press release.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated November 2, 2017) for actual Q3 2017 financial results, as this 8-K only references them.
- Verify the effective date of Manon Brouillette's board service (October 31, 2017) and her committee assignments.
- Confirm the total annual compensation package for the new director ($100,000 total).
- Note that the registrant is Altice USA, Inc., not Optimum Communications, Inc.