Summary
CME Group Inc. (CME) filed an 8-K report on April 13, 2022, detailing the retirement of its Chief Information Officer, Kevin Kometer, and the terms of his retirement agreement. Mr. Kometer is expected to retire by June 1, 2022, concluding his tenure with the company. The retirement agreement outlines specific compensation and benefits for Mr. Kometer. These include continued base salary through his retirement date, payment for accrued vacation time, and a cash retirement payment of $500,000. Additionally, his outstanding time-vesting restricted stock grants will accelerate vesting, and he will remain eligible to vest in a portion of his unvested performance share awards based on achievement. CME Group will also provide paid healthcare coverage for a twelve-month period post-retirement. All these benefits are contingent upon Mr. Kometer executing a release of claims against the company.
Key Highlights
- 1Kevin Kometer, Chief Information Officer, is retiring from CME Group.
- 2Retirement date is no later than June 1, 2022.
- 3Mr. Kometer will receive a cash retirement payment of $500,000.
- 4Outstanding time-vesting restricted stock grants will become fully vested upon retirement.
- 5Eligibility to vest in 25% of unvested performance share awards based on actual performance will continue.
- 6CME Group will provide paid healthcare coverage for twelve months following retirement.
- 7All retirement benefits are contingent on Mr. Kometer executing a release of claims.