Business Context and Reporting Period
This Form 8-K Current Report was filed by Northrop Grumman Corporation on February 14, 2012. The report discloses corporate governance changes, specifically the election of a new director and an increase in the size of the Board of Directors.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial figures disclosed relate to director compensation:
- Annual Cash Retainer: $115,000
- Audit Committee Retainer: $10,000
- Annual Equity Grant: $130,000 in deferred stock units
Material Changes
The primary material change reported is the expansion of the Board of Directors from 12 members to 13 members. Additionally, Admiral Gary Roughead was elected to the Board, effective February 16, 2012, and appointed to the Audit Committee and the Policy Committee.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, or discussion of risks and contingencies. The document focuses solely on the appointment details and compensation structure for the new director.
Key Facts for Investor Verification
- Admiral Gary Roughead, former Chief of Naval Operations, was elected to the Board effective February 16, 2012.
- The Board size increased from 12 to 13 members.
- Compensation includes a prorated cash retainer and equity grant for the 2012 fiscal year.
- No financial results or operational updates are included in this specific filing.