SEC Filing Summary: Consolidated-Tomoka Land Co.
Business Context and Reporting Period
This Form 8-K was filed on December 2, 2008, by Consolidated-Tomoka Land Co., a Florida corporation. The filing reports a corporate governance event that occurred on November 26, 2008.
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 board composition changes and does not contain financial statements or performance data.
Material Changes
The primary material change reported is the appointment of a new director to the Board of Directors.
- Appointment: Linda Loomis Shelley was named to fill the unexpired term of Bob D. Allen, who retired on April 23, 2008.
- Role: Ms. Shelley was appointed as a Class I director.
- Independence: The Board determined Ms. Shelley qualifies as independent under NYSE Alternext US Corporate Governance Listing Standards.
- Background: Ms. Shelley is a shareholder in the law firm Fowler White Boggs PA, specializing in environmental and land use issues.
Outlook, Risks, and Management Commentary
There is no forward-looking guidance, risk disclosure, or management commentary regarding financial performance in this filing. The document notes that Ms. Shelley's compensation will be consistent with other non-employee directors as described in the proxy statement filed on March 21, 2008. No transactions requiring disclosure under Item 404(a) of Regulation S-K were identified.
Key Facts for Investor Verification
- Verify the exact compensation structure for non-employee directors in the March 21, 2008 proxy statement.
- Confirm the date of the next annual meeting of shareholders (April 22, 2009) where Ms. Shelley will stand for reelection.
- Review the press release dated December 1, 2008 (Exhibit 99.1) for additional details on the appointment.