Business Context and Reporting Period
This Form 8-K filing by Mastercard Inc. is dated August 23, 2011. The report discloses the appointment of a new senior executive officer effective on the date of the report.
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 executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Andrea Forster as Corporate Controller and principal accounting officer for Mastercard Incorporated and Mastercard International Incorporated, effective August 23, 2011.
Management Commentary and Compensation Details
Ms. Forster, age 51, joins from PepsiCo, Inc., where she served as Vice President, Supply Chain Transformation. She is a certified public accountant with extensive experience in finance and controller roles. Her compensation package includes:
- Base Salary: $350,000 annually.
- Long-Term Incentive Plan (LTIP):
- 2011 Grant: Restricted stock units valued at $250,000.
- 2012 Grant: Stock options, shares, or units valued at approximately $400,000.
- Other Benefits: Eligibility for the Annual Incentive Compensation Plan and Change-in-Control Severance Plan.
Investor Verification Checklist
- Verify the effective date of Andrea Forster's appointment (August 23, 2011).
- Confirm the specific LTIP grant values ($250,000 for 2011 and ~$400,000 for 2012).
- Review the terms of the employment offer letter dated August 2, 2011.
- Note that this filing contains no financial results or guidance for the period.