Summary
Arch Capital Group Ltd. (ACGL) announced a change in its Board of Directors on July 14, 2014. The company appointed Louis J. Paglia and Eugene S. Sunshine as new directors. This board expansion is a key governance update for the company. Investors should note that Mr. Paglia has been appointed to Class I of the board, with his term expiring in 2017, while Mr. Sunshine joins Class III, with his term expiring in 2016. These appointments are standard governance actions and are intended to strengthen the board's composition. The company has incorporated by reference a press release dated July 14, 2014, which provides further details on these appointments.
Key Highlights
- 1Arch Capital Group Ltd. appointed two new directors to its Board of Directors.
- 2Louis J. Paglia was appointed to Class I of the Board, with his term expiring in 2017.
- 3Eugene S. Sunshine was appointed to Class III of the Board, with his term expiring in 2016.
- 4No arrangements or understandings exist between the new directors and any other person regarding their selection.
- 5No Item 404(a) of Regulation S-K disclosures are required for these appointments.
- 6The company issued a press release on July 14, 2014, detailing these board changes.
- 7The press release is attached as Exhibit 99.1 to this Form 8-K filing.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report the appointment of two new directors, Louis J. Paglia and Eugene S. Sunshine, to the Arch Capital Group Ltd. Board of Directors.
Louis J. Paglia, appointed to Class I, has a term that expires in 2017. Eugene S. Sunshine, appointed to Class III, has a term that expires in 2016.
According to the filing, there are no arrangements or understandings between either of the new directors and any other person pursuant to which they were selected to serve as a director.
Further details about these appointments are provided in a press release dated July 14, 2014, which is attached to this Form 8-K as Exhibit 99.1 and incorporated by reference.