Business Context and Reporting Period
This Form 8-K Current Report was filed by Knife River Corporation on June 27, 2024. The filing addresses corporate governance changes, specifically the expansion of the Board of Directors and the appointment of a new director.
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
- Board Expansion: The Board of Directors increased its size from six to seven directors.
- New Appointment: Patricia Chiodo was appointed as a Class II director, effective June 27, 2024, serving until the 2025 Annual Meeting of Stockholders.
- Committee Assignments: Ms. Chiodo was assigned to the Audit Committee and the Compensation Committee.
- Independence: The Board determined Ms. Chiodo is an independent director with the requisite financial literacy for the Audit Committee under NYSE listing standards.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. No risks, contingencies, or unusual items were disclosed in this report. Ms. Chiodo will receive standard compensation for non-employee directors, prorated for her time of service, with no related party transactions reported.
Investor Verification Checklist
- Verify the effective date of Patricia Chiodo's appointment (June 27, 2024).
- Confirm her specific committee assignments (Audit and Compensation).
- Review the press release (Exhibit 99.1) for additional biographical details on the new director.
- Note that this filing does not contain updated financial results; refer to the most recent 10-Q or 10-K for financial data.