Business Context and Reporting Period
This Form 8-K Current Report was filed by Assurant, Inc. on September 16, 2011. The filing primarily addresses corporate governance changes, specifically the election of a new director and the associated compensatory arrangements.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. The only financial data disclosed relates to director compensation:
- Restricted Stock Units (RSUs): An annual grant with a grant date fair market value of $80,000.
- Annual Retainers: To be paid in accordance with the Assurant, Inc. Amended and Restated Directors Compensation Plan (specific dollar amounts not stated in this filing).
Material Changes
The material change reported is the appointment of Robert W. Stein to the Board of Directors and the Audit Committee, effective October 1, 2011. There are no arrangements or understandings between Mr. Stein and other persons regarding his election.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or discussion of risks and contingencies. It references a news release dated September 19, 2011, for further details on the appointment.
Investor Verification Checklist
- Verify the specific annual retainer amount for directors by reviewing the Assurant, Inc. Amended and Restated Directors Compensation Plan (Exhibit 10.25 to the 2010 Form 10-K).
- Review the terms of the Restricted Stock Unit Award Agreement for Time-Based Awards for Directors (Exhibit 10.1 to the June 14, 2011 Form 8-K) to understand vesting schedules and conditions.
- Confirm the effective date of Mr. Stein's service on the Audit Committee (October 1, 2011).