Who is Kimberly S. Taylor and what was her role at CME Group?

Kimberly S. Taylor was the President of Clearing and Post-Trade Services at CME Group. She had a long career at the company, holding various senior positions since 2004, including leadership roles in CME Clearing, Global Operations, Technology & Risk.

What financial compensation will Ms. Taylor receive upon retirement?

Ms. Taylor will receive her base salary through her retirement date of December 31, 2017, payment for accrued vacation, a $100,000 payment upon signing the retirement agreement, and a severance payment of $1,750,000. Additionally, certain outstanding restricted stock grants will vest, and she remains eligible for performance-vesting equity awards.

Are there any ongoing benefits for Ms. Taylor after her retirement date?

Yes, CME Group will provide Ms. Taylor with paid healthcare coverage for 18 months following her retirement date. Her continued eligibility for vesting of equity awards is also extended for this 18-month period.

What conditions are attached to Ms. Taylor's retirement benefits?

The severance payment, continued healthcare coverage, and the vesting of equity awards are all contingent upon Ms. Taylor executing a release of claims in favor of CME Group.

CME 8-K: Leadership Changes

Summary

CME Group Inc. (CME) announced the retirement of Kimberly S. Taylor, President, Clearing and Post-Trade Services, effective December 31, 2017. Ms. Taylor has held various senior leadership roles within the company since 2004, including significant contributions to CME Clearing. Her departure marks the end of a long tenure with the company.

Key Highlights

1Kimberly S. Taylor, President of Clearing and Post-Trade Services, is retiring from CME Group.
2Ms. Taylor's retirement is effective December 31, 2017, after a transition period.
3The company has entered into a Retirement Agreement with Ms. Taylor.
4Under the agreement, Ms. Taylor will receive her base salary through retirement, accrued vacation pay, a $100,000 signing payment, and a $1,750,000 severance payment.
5Outstanding restricted stock grants for Ms. Taylor will vest if she remains employed through 18 months post-retirement.
6Performance-vesting equity awards will also continue to be eligible for vesting based on actual performance during the same 18-month period.
7CME Group will provide paid healthcare coverage for Ms. Taylor for 18 months post-retirement, contingent on a release of claims.

CME GROUP INC. 8-K Report, Executive Changes (Dec 1, 2017)

Summary

Key Highlights

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