8-KLeadership ChangesExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Executive Changes (Dec 6, 2007)

Filed December 6, 2007For Securities:CHTR

Summary

Charter Communications, Inc. (CHTR) filed an 8-K on December 6, 2007, to report a material change to its executive compensation arrangements. The Compensation and Benefits Committee approved an amendment to the Company's 2005 Executive Cash Award Plan, making it align with the terms of the 2001 Stock Incentive Plan. This amendment is significant as it ensures that executive officers will receive accelerated awards and full payment of amounts granted under the Cash Award Plan in the event of termination of employment related to a change in control of the company. This update to the executive compensation plan provides enhanced financial security for key management personnel during potential change of control scenarios. While the filing does not disclose specific award amounts or individual beneficiaries, it signals a proactive approach by the Board to incentivize and retain executive talent by clarifying and strengthening severance provisions tied to corporate control events.

Key Highlights

  • 1Amendment to the 2005 Executive Cash Award Plan approved on November 30, 2007.
  • 2The amendment aligns the Cash Award Plan with the terms of the 2001 Stock Incentive Plan.
  • 3Key change: Accelerated awards and full payment under the Cash Award Plan in case of termination related to a change in control.
  • 4This enhances executive severance benefits contingent upon corporate control events.
  • 5The filing does not specify individual award amounts or affected officers.
  • 6An Amended and Restated Executive Cash Award Plan is filed as Exhibit 10.1.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report a material change to Charter Communications' executive compensation plans. Specifically, it details an amendment to the 2005 Executive Cash Award Plan that enhances severance benefits for certain officers in the event of a change in control.

The amendment ensures that in the event of a termination of employment connected to a change in control of the company, participants in the Cash Award Plan will receive accelerated awards and the full amount granted under the plan.

The amendment affects certain officers of Charter Communications who are participants in the 2005 Executive Cash Award Plan. The specific individuals are not named in this filing, but the change is designed to provide them with greater financial protection during change of control scenarios.

No, this filing does not indicate that a change in control is imminent. It reports an amendment to the executive compensation plan that clarifies and strengthens provisions related to a potential future change in control, which is a standard practice for aligning executive interests with shareholder value in such events.