Business Context and Reporting Period
This Form 8-K is a current report filed by Avery Dennison Corporation on September 9, 2018. The filing addresses corporate governance changes, specifically the appointment of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel and governance matters rather than financial performance.
Material Changes
The primary material change reported is the appointment of Mark J. Barrenechea to the Board of Directors, effective September 10, 2018. This appointment was made upon the recommendation of the Governance and Social Responsibility Committee.
Guidance, Outlook, and Management Commentary
There is no financial guidance, outlook, or management commentary regarding business operations in this filing. The document details the compensatory arrangements for the new director, which include:
- Receipt of 880 restricted stock units (RSUs) on September 10, 2018, vesting on the first anniversary of the grant date.
- Eligibility to participate in other non-employee director compensation programs as described in the proxy statement filed on March 15, 2018.
- Mr. Barrenechea has not been appointed to serve on any Board committees at this time.
Important Facts for Investor Verification
- Mark J. Barrenechea joined the Board of Directors effective September 10, 2018.
- The new director received an initial equity award of 880 RSUs.
- Mr. Barrenechea is not currently assigned to any Board committees.
- Further details on director compensation can be found in the Company's proxy statement filed on March 15, 2018.