Business Context and Reporting Period
This Form 8-K filing by Assurant, Inc. covers events occurring on May 8, 2014, including the Annual Meeting of Stockholders and executive compensation adjustments. The company is incorporated in Delaware with principal executive offices in New York, New York.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and executive compensation matters.
Material Changes and Executive Actions
- Executive Appointment: Christopher J. Pagano is scheduled to succeed Michael J. Peninger as Executive Vice President and Chief Financial Officer, effective August 15, 2014.
- Compensation Adjustments: Effective May 16, 2014, Mr. Pagano's annual base salary was increased from $565,000 to $615,000. His target annual incentive opportunity for 2014 was raised from 100% to 120%.
- Equity Grant: Mr. Pagano received a one-time award of 3,000 restricted stock units (RSUs). These vest over five years (10% annually for the first four years, 60% on the fifth anniversary), contingent on continued employment.
Stockholder Vote Results
At the Annual Meeting held on May 8, 2014, stockholders approved three proposals:
- Election of Directors: All 11 nominees were elected. Notably, Jean-Paul L. Montupet received the highest number of "Against" votes (3,222,279) compared to other nominees, though he was still elected.
- Ratification of Auditors: PricewaterhouseCoopers LLP was ratified as the independent registered public accounting firm for fiscal year 2014 with 58,486,250 votes for and 671,549 against.
- Executive Compensation Advisory Vote: The 2013 compensation for named executive officers was approved with 52,182,381 votes for and 4,482,139 against.
Investor Verification Checklist
- Verify the transition timeline for the CFO role change effective August 15, 2014.
- Review the specific vesting schedule and conditions for the 3,000 RSUs granted to Christopher J. Pagano.
- Analyze the voting dissent for director Jean-Paul L. Montupet to understand potential shareholder concerns.
- Confirm the total number of shares outstanding and voting power based on the vote totals provided.