Business Context and Reporting Period
Company: Pool Corporation
Filing Type: Form 8-K (Current Report)
Report Date: October 13, 2022
Event Date: October 10, 2022
Context: This filing reports the appointment of a new director to the Board of Directors and the expansion of the Board size.
Financial Metrics
This filing does not contain financial performance data. The document does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Board Composition: The Board of Directors increased its size from ten to eleven members.
- Appointment: James "Jim" D. Hope was appointed as a director effective October 10, 2022.
- Committee Assignment: Mr. Hope was appointed to serve on the Audit Committee.
- Term: Mr. Hope will serve until the 2023 annual meeting of shareholders, at which time he will stand for election.
Guidance, Outlook, and Management Commentary
Management Commentary: The appointment was made upon the recommendation of the Nominating and Corporate Governance Committee. Mr. Hope brings significant experience, currently serving as CFO of Performance Food Group and having spent 26 years in executive leadership at Sysco Corporation, including roles as CEO of an operating company and Executive Vice President of Business Transformation.
Compensation: Mr. Hope will receive a pro-rated non-employee director annual cash retainer pursuant to the Board's standard policy.
Risks and Contingencies: No material risks, contingencies, or unusual items are disclosed in this specific filing. The filing confirms no family relationships requiring disclosure and no transactions in which Mr. Hope had a material interest.
Key Facts for Investor Verification
- Verify the total number of Board members is now eleven.
- Confirm James D. Hope's tenure on the Audit Committee.
- Note that Mr. Hope's appointment is temporary until the 2023 shareholder vote.
- Review the attached press release (Exhibit 99.1) for additional context not included in the 8-K text.