Business Context and Reporting Period
This Form 8-K Current Report was filed by Cooper-Standard Holdings Inc. on June 10, 2021. The filing reports a corporate governance event regarding the Board of Directors.
Key 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
The Board of Directors increased the size of the Board from 10 to 11 members. Christine M. Moore was elected as a new director, effective August 1, 2021. Her initial term will expire at the 2022 annual meeting of shareholders.
Outlook, Risks, and Management Commentary
- Director Profile: Ms. Moore is independent under NYSE listing standards and will serve on the Audit Committee. She currently serves as Executive Vice President and General Auditor of Comerica Bank.
- Compensation: Ms. Moore will receive compensation as a non-employee director on a pro rata basis for the remainder of the year, consistent with the company's proxy statement filed on April 8, 2021.
- Agreements: Ms. Moore is expected to enter into the company's standard indemnification agreement for officers and directors.
- Related Party Transactions: The filing states there are no arrangements or transactions in which Ms. Moore has a direct or indirect material interest subject to disclosure.
Investor Verification Checklist
- Verify the effective date of Ms. Moore's directorship (August 1, 2021).
- Review the 2021 proxy statement filed on April 8, 2021, for details on non-employee director compensation.
- Confirm the composition of the Audit Committee following Ms. Moore's appointment.