Summary
This 8-K/A filing from American Express (AXP) provides an amendment to a previous 8-K regarding the appointment of David Cornish as Acting Comptroller and Principal Accounting Officer, scheduled for May 16, 2011. The amendment clarifies specific details about Mr. Cornish's compensation package tied to this appointment. Investors should note the details of the additional incentives he will be eligible for upon confirmation of his role.
Key Highlights
- 1David Cornish's appointment as Acting Comptroller and Principal Accounting Officer is confirmed for May 16, 2011.
- 2Mr. Cornish's compensation will include an additional annual cash incentive award ranging from $65,000 to $120,000.
- 3He is also eligible for an additional equity grant valued at up to $140,000.
- 4These additional compensation elements are subject to confirmation of his appointment and will be awarded in early 2012 as part of the year-end compensation process.
- 5The awards are contingent on Mr. Cornish's individual performance.
- 6The compensation plans mentioned are under the Company's 2007 Incentive Compensation Plan.