Business Context and Reporting Period
This Form 8-K filing by Black Hills Corporation (a South Dakota corporation) reports a corporate governance event. The report date is December 13, 2016, with the filing signed on December 14, 2016.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on board composition changes.
Material Changes
- Board Appointment: Robert P. Otto was appointed as a Director, effective January 1, 2017.
- Board Size Increase: The Board of Directors temporarily increased its size from 10 to 11 directors.
- Reason for Change: The expansion facilitates a smooth transition for anticipated director retirements in the coming years.
- Term Details: Mr. Otto serves as a Class I Director, with his term subject to re-election at the 2017 Annual Meeting of Shareholders.
Guidance, Outlook, and Risks
The filing contains no financial guidance, management commentary on operations, risk factors, contingencies, or unusual items. It references a press release attached as Exhibit 99 regarding the appointment.
Investor Verification Checklist
- Verify the biographical background and qualifications of the new director, Robert P. Otto.
- Confirm the timeline for the anticipated director retirements mentioned by the Board.
- Review the attached press release (Exhibit 99) for additional context on the appointment.