8-KLeadership ChangesMaterial AgreementsRegulation FD+1

CINCINNATI FINANCIAL CORP 8-K Report, Material Agreement (May 11, 2006)

Filed May 11, 2006For Securities:CINF

Summary

Cincinnati Financial Corporation filed an 8-K on May 11, 2006, primarily reporting on events that occurred on or around May 6, 2006. The filing notes the entry into a material definitive agreement and the appointment of principal officers, though specific details for these are not elaborated within the provided text. A significant portion of the report focuses on a news release issued on May 8, 2006, concerning the company's Shareholders' and Directors' Meetings. This release also disclosed adjustments to executive compensation, including increased base salaries for Messrs. Benoski and Stecher, effective upon their title changes and in recognition of their expanded roles and contributions. The company also referenced previously filed incentive and stock compensation plans and an unfunded supplemental retirement plan.

Key Highlights

  • 1Cincinnati Financial Corporation held its Shareholders' and Directors' Meetings on or around May 6, 2006.
  • 2The company issued a news release on May 8, 2006, providing information related to these meetings.
  • 3Executive compensation adjustments were made, with increased base salaries for Messrs. Benoski and Stecher.
  • 4The salary increases for Messrs. Benoski and Stecher are attributed to title changes, expanded roles, and their contributions to the executive team.
  • 5Details on specific material definitive agreements and principal officer appointments were indicated but not elaborated within the provided text.
  • 6Referenced are the Cincinnati Financial Corporation Incentive Compensation Plan and 2006 Stock Compensation Plan, previously filed.
  • 7A revised supplemental retirement plan for eligible executives was mentioned, designed to supplement benefits limited by Internal Revenue Code Section 415.

Frequently Asked Questions

This 8-K filing primarily reports on the company's Shareholders' and Directors' Meetings, the issuance of a related news release, and updates regarding executive compensation, including salary increases for key officers.

The filing indicates the entry into a material definitive agreement and the appointment of principal officers, along with title changes for Messrs. Benoski and Stecher. Specific details of these agreements and appointments are not detailed within the provided text but are referenced in the attached news release.

The base salaries of Mr. Benoski and Mr. Stecher were increased to recognize their title changes, their extended roles, and the value they bring to the executive team. These adjustments reflect the company's strategy to retain and reward key leadership personnel.

The revised supplemental retirement plan is an unfunded plan designed to provide eligible executives with retirement benefits that they might otherwise not receive due to limitations imposed by Internal Revenue Code Section 415 on the company's defined benefit plan.