8-KLeadership Changes

DOLLAR GENERAL CORP 8-K Report, Executive Changes (May 18, 2018)

Filed May 18, 2018For Securities:DG

Summary

Dollar General Corporation (DG) filed an 8-K on May 18, 2018, to report a change in its Board of Directors. Paula A. Price, a current director, has resigned and will not stand for re-election at the upcoming Annual Meeting of Shareholders. The company stated that Ms. Price's departure is to focus on other responsibilities and is not due to any disagreement with the company. This resignation will result in a reduction of the Board's size from ten to eight members, effective immediately following the Annual Meeting. This reduction also accounts for the previously announced retirement of another director, David B. Rickard. Investors should note that while Ms. Price will no longer be a nominee, proxy cards remain valid, with votes for all nominees being automatically adjusted to reflect the remaining eight candidates.

Key Highlights

  • 1Director Paula A. Price is resigning from the Board of Directors.
  • 2Ms. Price will also withdraw as a director nominee for the upcoming Annual Meeting of Shareholders on May 30, 2018.
  • 3The resignation is for personal reasons (to focus on other responsibilities) and not due to any disagreement with Dollar General.
  • 4The Board of Directors' size will be reduced from ten to eight members, effective after the Annual Meeting.
  • 5The reduction in board size also incorporates the previously announced retirement of Director David B. Rickard.
  • 6Existing proxy cards remain valid, and votes cast for all nominees will be applied to the remaining eight director candidates.

Frequently Asked Questions

Paula A. Price is resigning from the Board of Directors to focus on her other responsibilities. The company has stated that her resignation is not the result of any disagreement with Dollar General.

The resignation of Ms. Price, along with the previously announced retirement of David B. Rickard, will lead to a reduction in the size of the Board of Directors from ten to eight members, effective after the Annual Meeting of Shareholders.

Yes, the proxy cards remain valid. While Ms. Price is no longer a nominee, any votes submitted instructing to vote for all Board nominees will be automatically adjusted to vote for the remaining eight nominees.

Based on the information provided in the filing, investors should not be overly concerned. The company has clearly stated the resignation is not due to any disagreement, and the reduction in board size is a planned adjustment that includes another retiring director. This appears to be a routine governance change.