HUNTINGTON INGALLS INDUSTRIES, INC. - 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed on March 8, 2021, covering events reported as of March 2, 2021. The filing pertains to executive leadership changes within Huntington Ingalls Industries, Inc., a Delaware corporation.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial figure disclosed relates to a specific compensatory arrangement: a grant of restricted stock rights (RSRs) valued at $200,000.
Material Changes
- Executive Departure: Brian J. Cuccias, Executive Vice President and President of Ingalls Shipbuilding, is retiring effective April 1, 2021.
- Executive Appointment: Kara R. Wilkinson was elected by the Board of Directors to succeed Mr. Cuccias as Executive Vice President and President of Ingalls Shipbuilding, effective April 1, 2021. She currently serves as Vice President, Programs, Ingalls Shipbuilding.
- Compensatory Arrangement: In connection with his retirement, Mr. Cuccias received a grant of RSRs valued at $200,000, vesting one year from the grant date (April 1, 2021). This grant was intended to provide equity compensation for 2021 that would otherwise be forfeited due to his six-month absence from work in that year.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks and contingencies beyond the standard disclosure of the executive transition.
Key Facts for Investor Verification
- Confirm the effective date of the leadership transition at Ingalls Shipbuilding (April 1, 2021).
- Verify the vesting schedule and terms of the $200,000 restricted stock rights granted to the retiring executive.
- Review the attached press release (Exhibit 99.1) for additional details on the retirement announcement.