Business Context and Reporting Period
This Form 8-K filing by American International Group, Inc. (AIG) was submitted on March 14, 2018. The report addresses a specific corporate governance event under Item 5.02 regarding the departure of a director.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to corporate governance disclosures and contains no financial performance data.
Material Changes
The material change reported is the notification received on March 14, 2018, that Mr. Samuel J. Merksamer will not stand for reelection to the Board of Directors at the 2018 Annual Meeting of Shareholders scheduled for May 9, 2018. Mr. Merksamer, who has served on the Board since 2016, will continue in his role until the election of directors at the upcoming meeting.
Outlook, Risks, and Contingencies
The filing notes a specific contingency related to corporate agreements: The Nomination Agreement involving High River Limited Partnership, Icahn Partners Master Fund LP, Icahn Partners LP, Carl C. Icahn, and the Company will expire pursuant to its terms 35 days following Mr. Merksamer's departure from the Board. No other risks, guidance, or unusual items are disclosed in this document.
Key Facts for Investor Verification
- Samuel J. Merksamer will not seek reelection at the May 9, 2018 Annual Meeting.
- Mr. Merksamer remains a director until the election of directors at the 2018 Annual Meeting.
- The Nomination Agreement with Icahn Partners entities will expire 35 days after Mr. Merksamer's departure from the Board.
- This filing contains no financial results or operational updates.