Summary
Berkshire Hathaway Inc. (BRK-B) filed an 8-K on May 7, 2026, reporting on its first-quarter 2026 financial results, key executive and board matters, and shareholder meeting outcomes. The company released its Q1 2026 earnings on May 2, 2026, the details of which are incorporated by reference. A significant personnel change involves Charles C. Chang succeeding Marc D. Hamburg as Chief Financial Officer on June 1, 2026, with Mr. Chang to receive an annual salary of $8,000,000. In recognition of his service, Mr. Hamburg will receive a retirement benefit of up to 30 flight hours annually on a NetJets aircraft for a period of up to 11 years, with an estimated annual cost to Berkshire of $490,000, including tax gross-ups. Additionally, the company's Board of Directors amended and restated the By-Laws on May 3, 2026, to align officer roles with the current operating structure. The annual shareholder meeting, held on May 2, 2026, saw the re-election of all directors with strong support. Shareholders also approved executive compensation in a non-binding vote, but opted for an advisory vote on executive compensation every three years. A shareholder proposal requesting a report on workforce and human-capital management oversight was not approved.
Key Highlights
- 1Berkshire Hathaway released its Q1 2026 earnings on May 2, 2026.
- 2Charles C. Chang will become the new CFO on June 1, 2026, with an $8 million annual salary.
- 3Outgoing CFO Marc D. Hamburg will receive a retirement benefit of up to 30 NetJets flight hours annually for 11 years, costing an estimated $490,000 per year.
- 4Berkshire's By-Laws were amended and restated on May 3, 2026, to update officer roles and responsibilities.
- 5All incumbent directors were re-elected at the annual shareholder meeting on May 2, 2026, with substantial 'For' votes.
- 6Shareholders approved the executive compensation in a non-binding advisory vote.
- 7Shareholders voted to have an advisory vote on executive compensation every three years.