01—Abstract
Summary
Summary of the 8-K filed April 26, 2024. Cited figures are marked; the original filing is the authoritative source.
Delta Air Lines, Inc. (DAL) filed this Form 8-K on April 26, 2024 under Item 5.02 to report that its Board of Directors elected two new directors, Maria Black and Willie CW Chiang, effective April 26, 2024.
The Board elected them on April 25, 2024. The Board expects to appoint both to one or more committees at a later date, with assignments to be determined. Ms. Black is President and Chief Executive Officer of Automatic Data Processing, Inc. (ADP), a global human capital management technology company, and currently serves on ADP's board.
Mr. Chiang is Chairman and Chief Executive Officer of Plains All American Pipeline, L.P. and its general partner, Plains GP Holdings, L.P., a midstream energy infrastructure and logistics company. Per the press release, the board chair, David Taylor, said the appointments bring technology, human capital management, and energy expertise to the board.
According to the filing, both directors will be compensated on the same basis as Delta's other non-employee directors, with details described in the Director Compensation section of Delta's 2024 proxy statement. The filing is primarily a governance update and does not report any financial results or changes to Delta's operations.
02—Key points
Key Highlights
- Board elected Maria Black and Willie CW Chiang as directors on April 25, 2024, effective April 26, 2024.
- Ms. Black is President and CEO of Automatic Data Processing, Inc. (NASDAQ: ADP), a global HCM technology company.
- Mr. Chiang is Chairman and CEO of Plains All American Pipeline, L.P. and Plains GP Holdings, L.P. (NASDAQ: PAA, PAGP), a midstream energy infrastructure company.
- Committee assignments for both new directors are expected to be made at a later date.
- Both directors will receive the same non-employee director compensation as Delta's other non-employee directors.
- Director compensation details are described in Delta's 2024 annual meeting proxy statement.
- The filing reports no financial results and includes no financial statements; it is a board composition update.
03—Questions
Frequently Asked Questions
Who were the new directors added to Delta's Board?
Maria Black, President and CEO of Automatic Data Processing, Inc., and Willie CW Chiang, Chairman and CEO of Plains All American Pipeline, L.P. and Plains GP Holdings, L.P., were elected to Delta's Board of Directors.
When do the new directors take their seats?
The Board elected them on April 25, 2024, and their election was effective April 26, 2024.
Will the new directors serve on any board committees?
The Board expects to appoint Ms. Black and Mr. Chiang to one or more committees, but the committee assignments will be determined at a later date.
How will the new directors be compensated?
They will be compensated on the same basis as Delta's other non-employee directors. The details of that compensation, including certain benefits, are described under 'Director Compensation' in Delta's 2024 proxy statement.
Does this filing include any financial results or guidance?
No. The filing addresses only the board appointments and related compensation terms. Its exhibits are a press release announcing the appointments and the Inline XBRL cover page.
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