Summary
General Dynamics Corporation (GD) announced a significant addition to its Board of Directors with the immediate election of James N. Mattis, effective August 7, 2019. Mr. Mattis, formerly the U.S. Secretary of Defense, brings a wealth of experience that is likely to be seen as a strategic asset to the company's leadership. His appointment to both the Audit and Nominating and Corporate Governance committees suggests an immediate integration into key oversight functions of the board.
Key Highlights
- 1James N. Mattis elected to General Dynamics Corporation's Board of Directors, effective August 7, 2019.
- 2Mr. Mattis appointed to the Audit Committee.
- 3Mr. Mattis appointed to the Nominating and Corporate Governance Committee.
- 4No known arrangements or understandings exist regarding Mr. Mattis's election.
- 5No reportable transactions with Mr. Mattis requiring disclosure under Item 404(a) of Regulation S-K.
- 6Mr. Mattis will receive standard compensation for non-employee directors.
- 7Announcement accompanied by a press release (Exhibit 99.1).
Frequently Asked Questions
James N. Mattis is a retired U.S. Marine Corps general and former U.S. Secretary of Defense. His extensive experience in national security and leadership is highly relevant to a defense contractor like General Dynamics.
Mr. Mattis has been appointed to the Audit Committee and the Nominating and Corporate Governance Committee of General Dynamics' Board of Directors.
As a non-employee director, Mr. Mattis will be compensated according to the company's standard director compensation policies, as detailed in its proxy statements.
The filing states that there are no arrangements or understandings related to his election, and the company is not aware of any transactions with Mr. Mattis that would require disclosure under Item 404(a) of Regulation S-K, indicating no immediate red flags for related-party transactions.