Athene Holding Ltd. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Athene Holding Ltd. on December 6, 2018, reporting events that occurred on December 5, 2018. The filing addresses corporate governance changes specifically regarding the composition of the Board of Directors.
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
The Board of Directors voted to increase the size of the Board from thirteen to fifteen directors. Two new directors were appointed to fill the resulting vacancies, effective immediately:
- Mitra Hormozi: Appointed as a Class III director. Her term, if ratified by shareholders, would expire at the 2021 annual general meeting. She is currently Executive Vice President and General Counsel of Revlon.
- Scott Kleinman: Appointed as a Class II director. His term, if ratified by shareholders, would expire at the 2020 annual general meeting. He is Co-President of Apollo Global Management, LLC.
Both appointments are interim and subject to shareholder approval at the 2019 annual general meeting.
Compensation and Related Party Matters
Ms. Hormozi is expected to enter into a standard Director Retention Letter and will be eligible for standard director compensation. Mr. Kleinman, as an employee of Apollo (a significant shareholder and related party), will not receive compensation for his director services, consistent with the treatment of other Apollo-affiliated directors. The filing notes existing relationships and transactions between the Company and Apollo affiliates, which are detailed in the Company's Proxy Statement.
Key Facts for Investor Verification
- Verify the ratification of Mitra Hormozi and Scott Kleinman at the 2019 annual general meeting of shareholders.
- Review the "Certain Relationships and Related Transactions" section of the Proxy Statement to understand the extent of Apollo Global Management's involvement and potential conflicts of interest.
- Confirm the specific terms of the Director Retention Letter for Ms. Hormozi as filed in the Company's Annual Report.