Who is Jamie S. Gorelick and why is her appointment significant?

Jamie S. Gorelick is a new director elected to Amazon's Board. Her appointment is significant because she brings a strong background from her role as a partner at Wilmer Cutler Pickering Hale and Dorr LLP and previous U.S. government positions. Her addition, particularly to the Leadership Development and Compensation Committee, suggests a continued emphasis on strong corporate governance and executive compensation strategies.

What compensation was provided to Ms. Gorelick upon her appointment?

Ms. Gorelick was granted a restricted stock unit award for 3,600 shares of Amazon's common stock. These units are subject to a three-year vesting schedule, with one-third vesting on each of the first, second, and third anniversaries of her election, provided she continues to serve as a director.

What is the purpose of the indemnification agreement mentioned?

The indemnification agreement is a standard legal contract that protects directors, like Ms. Gorelick, from potential personal financial liability arising from their actions taken on behalf of the company. This is a common practice to attract and retain qualified individuals for board positions.

Does this filing indicate any changes in Amazon's executive officers or other significant business events?

No, this specific 8-K filing is solely focused on the election and appointment of a new director, Jamie S. Gorelick. It does not report any departures or appointments of executive officers nor any other material business events.

AMZN 8-K: Leadership Changes

Summary

This 8-K filing from Amazon.com, Inc. (AMZN) on February 9, 2012, announces a key change in its Board of Directors. Jamie S. Gorelick was elected as a new director and appointed to the Leadership Development and Compensation Committee. Ms. Gorelick brings significant experience from her role as a partner at a major law firm and prior government service, suggesting a focus on governance and executive compensation oversight. In connection with her appointment, Ms. Gorelick received a restricted stock unit award for 3,600 shares, vesting over three years. This compensation structure aligns her interests with those of long-term shareholders. The filing also confirms she has entered into a standard indemnification agreement, a common practice for directors to protect them from potential liabilities.

Key Highlights

1Jamie S. Gorelick elected as a new member of the Board of Directors.
2Ms. Gorelick appointed to the Leadership Development and Compensation Committee.
3Ms. Gorelick's background includes significant legal and government experience.
4Awarded 3,600 restricted stock units (RSUs) under the 1997 Stock Incentive Plan.
5RSUs vest in three equal annual installments, contingent on continued service.
6Entered into a standard director indemnification agreement.

AMAZON COM INC 8-K Report, Executive Changes (Feb 10, 2012)

Summary

Key Highlights

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