Business Context and Reporting Period
This Form 8-K Current Report was filed by Assurant, Inc. on July 13, 2009. The filing addresses a specific corporate governance event regarding the appointment of a senior officer and associated compensatory arrangements.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed relates to executive compensation:
- Executive Bonus: A one-time promotion bonus of $500,000 (100% of base salary) approved for Michael J. Peninger.
- Payment Terms: To be paid in a lump sum cash payment no later than July 31, 2009.
Material Changes
The material change reported is the promotion of Michael J. Peninger to Executive Vice President and Chief Financial Officer. This appointment involves his transition to the Company's corporate headquarters in New York.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, risk factors, or contingencies beyond the specific executive compensation arrangement described in Item 5.02.
Investor Verification Points
- Confirm the effective date of Michael J. Peninger's promotion to CFO.
- Verify the total cash outflow of $500,000 scheduled for payment by July 31, 2009.
- Review the Compensation Committee's approval documentation for the special bonus.