8-KLeadership ChangesExhibits & Filings

CHARTER COMMUNICATIONS, INC. /MO/ 8-K Report, Executive Changes (Aug 7, 2019)

Filed August 7, 2019For Securities:CHTR

Summary

This 8-K filing from Charter Communications, Inc. (CHTR) announces the appointment of Kevin D. Howard as Executive Vice President, Chief Accounting Officer and Controller, effective August 2, 2019. The filing provides details of his employment agreement, including his base salary, bonus potential, and severance provisions in the event of termination without cause or for good reason. Investors should note the terms of Mr. Howard's compensation package, which includes an annual base salary of $550,000 and a target annual bonus of 75% of base salary. The severance package offers significant protection, providing 2.0 times his combined salary and target bonus, along with 24 months of COBRA coverage and outplacement services. This reflects Charter's commitment to retaining key financial leadership and providing a competitive compensation structure.

Key Highlights

  • 1Appointment of Kevin D. Howard as EVP, Chief Accounting Officer and Controller.
  • 2Employment agreement term is three years, with potential for annual renewals.
  • 3Annual base salary set at $550,000.
  • 4Target annual bonus opportunity is 75% of annual base salary.
  • 5Severance package includes 2.0x base salary + target bonus upon termination without cause or for good reason.
  • 6Severance includes 24 months of COBRA coverage and executive outplacement services.
  • 7Mr. Howard is subject to non-compete and non-solicitation covenants.

Frequently Asked Questions

Kevin D. Howard's appointment as Executive Vice President, Chief Accounting Officer and Controller signifies a key leadership addition to Charter's financial team. This role is critical for financial reporting, compliance, and accounting oversight, indicating a strengthening of the company's financial management structure.

Mr. Howard's compensation includes an annual base salary of $550,000 and a target annual bonus opportunity of 75% of his base salary. He also participates in general employee benefit plans available to other senior executives.

In the event of an involuntary termination by Charter without cause, or by Mr. Howard for good reason, he is entitled to a severance payment equal to 2.0 times the sum of his annual base salary and target annual bonus. Additionally, he will receive payment for COBRA coverage for 24 months and up to 12 months of executive-level outplacement services, subject to signing a release of claims.

Yes, Mr. Howard has agreed to comply with restrictive covenants for a specified period after termination. These include a two-year non-competition and customer non-solicitation period, a one-year employee non-solicitation period, and perpetual confidentiality and non-disparagement covenants.