Business Context and Reporting Period
Company: Universal Technical Institute, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: June 28, 2011
Event: Election of a new Director and committee reassignments.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is a current report regarding corporate governance changes.
Material Changes
- Board Composition: The Board of Directors elected Kenneth R. Trammell, increasing the total number of directors to nine.
- Committee Assignments: Mr. Trammell was appointed to the Audit Committee, replacing A. Richard Caputo. Mr. Caputo was reassigned to the Compensation Committee.
Management Commentary and Risks
Management Commentary: The Board, upon recommendation of the Nominating and Corporate Governance Committee, selected Mr. Trammell effective immediately. Mr. Trammell brings significant experience as the Chief Financial Officer of Tenneco Inc. (since 2003) and 12 years of experience with Arthur Andersen LLP.
Risks and Contingencies: No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the full text of the press release filed as Exhibit 99.1 for additional details on the appointment.
- Review the updated Board of Directors composition to confirm the nine-member structure.
- Confirm the specific roles and responsibilities of the Audit and Compensation Committees following the personnel changes.