Summary
Cboe Global Markets, Inc. (CBOE) filed an 8-K on March 2, 2018, primarily to announce changes in its executive leadership and related compensation. Joanne Moffic-Silver, Executive Vice President, General Counsel, and Corporate Secretary, retired effective February 28, 2018. Concurrently, Patrick Sexton was appointed to succeed her in these roles, effective March 1, 2018. This transition marks a significant change in key legal and corporate governance oversight for Cboe. Investors should note the appointment of Mr. Sexton as a point of interest for future company strategy and legal matters. In connection with Ms. Moffic-Silver's retirement, she entered into a release agreement entitling her to benefits under the company's Executive Severance Plan. These benefits include full accelerated vesting of her outstanding restricted stock units and prorated accelerated vesting of performance share units, subject to performance goals. The agreement has been filed as an exhibit, providing transparency on the terms of her departure and compensation arrangements. The company is integrating new leadership while ensuring a smooth transition and fulfilling contractual obligations.
Key Highlights
- 1Joanne Moffic-Silver, EVP, General Counsel, and Corporate Secretary, retired on February 28, 2018.
- 2Patrick Sexton appointed EVP, General Counsel, and Corporate Secretary, effective March 1, 2018.
- 3Moffic-Silver's retirement agreement includes accelerated vesting of restricted stock units.
- 4Prorated accelerated vesting of performance share units for Moffic-Silver is subject to performance goals.
- 5The release agreement with Ms. Moffic-Silver has been filed as an exhibit (Exhibit 10.1).
- 6This filing signifies a key executive transition within Cboe's legal and corporate governance functions.