Summary
This 8-K filing from Amazon.com, Inc. (AMZN) on November 17, 2008, primarily reports a change in the Board of Directors. Alain Monié was elected as a director on November 13, 2008, and appointed to the Leadership Development and Compensation Committee effective January 1, 2009. Mr. Monié brings experience from his roles as President and COO of Ingram Micro Inc. and as a director of Jones Lang LaSalle Incorporated. In connection with his appointment, Mr. Monié received a restricted stock unit award for 7,000 shares, which will vest over three years, reflecting alignment with long-term company performance and director engagement. This appointment is a notable governance update for investors, indicating potential contributions from a new independent director with relevant industry and corporate governance experience.
Key Highlights
- 1Alain Monié elected as a new Director to the Board of Directors, effective November 13, 2008.
- 2Mr. Monié appointed to the Leadership Development and Compensation Committee, effective January 1, 2009.
- 3Mr. Monié's background includes serving as President and Chief Operating Officer of Ingram Micro Inc.
- 4He also serves as a director for Jones Lang LaSalle Incorporated, bringing external board experience.
- 5Mr. Monié was granted 7,000 restricted stock units (RSUs) under the 1997 Stock Incentive Plan.
- 6The RSUs are subject to a three-year vesting schedule, with equal installments on each anniversary of his election.
- 7Standard indemnification agreement entered into with Mr. Monié, consistent with other directors.