Business Context and Reporting Period
This Form 8-K is a current report filed by Pool Corporation on July 8, 2022, regarding an event that occurred on July 5, 2022. The filing addresses corporate governance changes specifically related to the Board of Directors.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is strictly a disclosure of a personnel appointment.
Material Changes
The Board of Directors increased the size of the Board from nine to ten members. Carlos A. Sabater was appointed as a new director effective July 5, 2022. He will serve until the 2023 annual meeting of shareholders, at which time he will stand for election.
Management Commentary and Risks
Director Background: Mr. Sabater, 63, is a certified public accountant with nearly 40 years of experience. He retired as a senior global partner with Deloitte & Touche LLP in 2020, having served as CEO for both the United States and global audit practices. He currently serves on the boards of KBR, Inc. and PDC Energy, Inc.
Compensation: Mr. Sabater will receive a pro-rated non-employee director annual cash retainer pursuant to the Board's standard policy.
Conflicts of Interest: The filing states there are no family relationships between Mr. Sabater and other directors or officers, and no transactions in which he had a material interest.
Key Facts for Investor Verification
- Board size increased to 10 members.
- New director Carlos A. Sabater appointed effective July 5, 2022.
- Mr. Sabater brings significant audit and financial leadership experience from Deloitte.
- No financial performance data or guidance is included in this specific filing.