Summary
This 8-K filing from Home Depot, Inc. (HD) on November 15, 2007, primarily reports changes to its Board of Directors. Helen Johnson-Leipold resigned from the Board, effective November 15, 2007, with no stated disagreement related to company operations. In connection with her departure, the Board elected three new directors: Duane Ackerman, Ari Bousbib, and Karen Katen, effective November 15, 2007. These new directors have been assigned to various board committees, including the Nominating and Corporate Governance Committee, Infrastructure Committee, and Leadership Development and Compensation Committee. Additionally, the company disclosed an amendment to its Non-Employee Directors Deferred Share Award to ensure compliance with Section 409A of the Internal Revenue Code. This amendment ensures the proper tax treatment of deferred compensation for non-employee directors.
Key Highlights
- 1Helen Johnson-Leipold resigned from the Board of Directors, effective November 15, 2007.
- 2No disagreement was cited by Ms. Johnson-Leipold regarding company operations, policies, or practices.
- 3Duane Ackerman, Ari Bousbib, and Karen Katen were elected as new directors, effective November 15, 2007.
- 4The new directors have been appointed to key committees: Nominating and Corporate Governance, Infrastructure, and Leadership Development and Compensation.
- 5The Non-Employee Directors Deferred Share Award was amended to comply with IRS Section 409A.
- 6New directors will receive compensation consistent with the company's standard non-employee director arrangements.