Business Context and Reporting Period
This Form 8-K Current Report was filed by Assurant, Inc. on September 28, 2021, regarding events occurring on September 22, 2021. The filing primarily addresses executive leadership changes within the company.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses on personnel appointments rather than financial performance data.
Material Changes
The material change reported is the appointment of Keith Meier as Executive Vice President and Chief Operating Officer (COO), effective January 1, 2022. Mr. Meier succeeds Gene Mergelmeyer, who notified the company of his intention to retire in January 2022.
Management Commentary and Compensation
Mr. Meier, 51, has been with the company since 1998 and most recently served as Executive Vice President and President of the International business unit. His compensation package, effective January 1, 2022, includes:
- Annualized base salary of $610,000.
- Target annual incentive award opportunity of 100% of his annual base salary.
- Target long-term incentive award opportunity of 230% of his annual base salary.
- Continued participation in standard executive benefit programs, including the Executive 401(K).
Investor Verification Checklist
- Verify the effective date of the leadership transition (January 1, 2022).
- Review the company's Proxy Statement for detailed descriptions of the Short Term Incentive Plan and Long Term Equity Incentive Plan.
- Confirm the retirement timeline for outgoing COO Gene Mergelmeyer.
- Check subsequent filings for any financial impact related to the executive transition.