Business Context and Reporting Period
This Form 8-K Current Report was filed by Assurant, Inc. on June 8, 2011. The report discloses corporate governance changes, specifically the election of a new director to 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 document focuses exclusively on personnel appointments and associated compensation arrangements.
Material Changes
The primary material change reported is the election of Paul J. Reilly to the Board of Directors, effective June 15, 2011. No other material changes to the company's operations or financial status are disclosed in this report.
Guidance, Outlook, and Management Commentary
There is no forward-looking guidance, outlook, or management commentary regarding financial performance in this filing. The report details the compensation structure for the new director:
- Annual retainers in accordance with the Assurant, Inc. Amended and Restated Directors Compensation Plan.
- An annual grant of restricted stock units with a grant date fair market value of $80,000 under the Long Term Equity Incentive Plan.
Mr. Reilly has not yet been assigned to any Board committees. The filing notes that a news release regarding this election was issued on June 14, 2011.
Important Facts for Investors to Verify
- Confirmation of Paul J. Reilly's effective start date on the Board (June 15, 2011).
- Future committee assignments for Mr. Reilly, which will trigger an amended 8-K filing.
- Details of the Restricted Stock Unit Award Agreement (Exhibit 10.1) and the Directors Compensation Plan referenced in the 2010 Form 10-K.