Summary
Capital One Financial Corporation (COF) announced a change to its Board of Directors through an 8-K filing on February 25, 2016. Effective immediately, Peter Thomas Killalea was appointed as a new director on February 24, 2016. This appointment increases the total size of the Board to eleven members. Mr. Killalea will be subject to election by stockholders at the upcoming Annual Meeting in May 2016. Investors should note that Mr. Killalea's appointment appears to be independent, with no pre-existing arrangements or understandings with other parties, and no related party transactions have been disclosed. His compensation for board service will follow the company's standard policy for non-employee directors, pro-rated until the May 2016 meeting. The company also attached the press release announcing this appointment as an exhibit.
Key Highlights
- 1Appointment of Peter Thomas Killalea as a new director, effective February 24, 2016.
- 2Board size increased from ten to eleven directors.
- 3Mr. Killalea will stand for election at the May 2016 Annual Meeting of Stockholders.
- 4No pre-existing arrangements or understandings between Mr. Killalea and any other person.
- 5No related party transactions disclosed between the Company and Mr. Killalea.
- 6Compensation for Mr. Killalea will be in line with the standard non-employee director compensation policy, pro-rated.
- 7Press release announcing the appointment is included as an exhibit.