Business Context and Reporting Period
This Form 8-K Current Report was filed by Ladder Capital Corp on June 11, 2015, regarding events that occurred on June 10, 2015. The filing addresses changes to the Company's 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 corporate governance changes.
Material Changes
- Resignation: Joel Peterson resigned from the Board of Directors on June 10, 2015.
- Election: Mark Alexander was elected as a director to fill the vacancy created by Mr. Peterson's resignation.
- Committee Appointments: Mr. Alexander was appointed as a member of the Audit Committee and as the chair of the Nominating and Corporate Governance Committee.
- Independence: The Board determined that Mr. Alexander meets the requirements for independence and financial literacy under SEC rules and NYSE listing standards.
Management Commentary and Background
The Company expressed gratitude to Mr. Peterson for his years of dedicated service. Mr. Alexander brings extensive experience in financial services, having served as Chief Information Officer and Head of Technology and Operations for Global Markets at Bank of America Merrill Lynch from 2013 to 2015. He previously held similar roles in Global Wealth and Investment Management and has served on the boards of several clearing corporations, including the Depository Trust and Clearing Corporation.
Investor Verification Checklist
- Verify the effective date of Joel Peterson's resignation and Mark Alexander's election (June 10, 2015).
- Confirm Mr. Alexander's specific committee assignments (Audit Committee member; Nominating and Corporate Governance Committee chair).
- Review Mr. Alexander's full biography to assess his independence and financial literacy qualifications.
- Check for any subsequent filings regarding compensation arrangements for the new director, as this 8-K does not detail specific compensation terms.