Business Context and Reporting Period
This Form 8-K filing by Box, Inc. (NYSE: BOX) is dated May 6, 2019. The report addresses corporate governance changes regarding the Board of Directors, specifically the departure of a director and the appointment of a new director effective following the 2019 Annual Meeting of Stockholders.
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 changes and does not contain financial performance data.
Material Changes
- Director Departure: Steven Krausz stepped down as a member of the Board of Directors, effective immediately following the conclusion of the 2019 Annual Meeting of Stockholders.
- Director Appointment: Peter Leav was appointed as a member of the Board, effective immediately following the conclusion of the 2019 Annual Meeting of Stockholders.
- Committee Assignment: Upon joining, Mr. Leav will serve on the Audit Committee.
- Term Details: Mr. Leav will serve as a Class I director with a term expiring at the annual meeting of stockholders to be held in 2021.
Guidance, Outlook, and Management Commentary
The filing contains no financial guidance, outlook, or management commentary regarding business operations. The text notes that Box has an ongoing search for one or more new directors. Regarding compensation, Mr. Leav will receive standard compensation for non-employee directors in accordance with the Company's Outside Director Compensation Policy. No unusual items or contingencies were disclosed.
Key Facts for Investor Verification
- Verify the exact date of the 2019 Annual Meeting of Stockholders to confirm the effective date of the board changes.
- Review the 2018 Proxy Statement for details on the Outside Director Compensation Policy applicable to Mr. Leav.
- Confirm the status of the ongoing search for additional new directors.
- Check subsequent filings for the final composition of the Audit Committee following Mr. Leav's appointment.