Summary
Johnson Controls International plc (JCI) announced a significant change in its board composition with the appointment of Jean Blackwell as a new director. Ms. Blackwell's appointment is effective immediately and her term will conclude at the company's next annual general meeting, where she is expected to seek re-election. She has also been appointed to the Compensation Committee, indicating a focus on executive and director compensation oversight. Ms. Blackwell's compensation will align with the company's standard director compensation policies, including a pro-rata restricted stock unit (RSU) award valued at approximately $116,250. This award vests prior to the 2019 Annual General Meeting, aligning her interests with long-term shareholder value. The company has also entered into standard indemnification agreements with Ms. Blackwell to protect her in connection with her board service, a common practice for directors.
Key Highlights
- 1Jean Blackwell appointed as a new member of Johnson Controls International plc's Board of Directors.
- 2Ms. Blackwell's appointment is effective June 13, 2018, with a term expiring at the next annual general meeting.
- 3She has been appointed to serve on the Compensation Committee of the Board.
- 4Ms. Blackwell will receive standard director compensation, including a restricted stock unit (RSU) award valued at approximately $116,250.
- 5The RSU award is scheduled to vest one day prior to the 2019 Annual General Meeting of Shareholders.
- 6Standard indemnification agreements have been entered into with Ms. Blackwell to cover her board service.
- 7There are no disclosed related party transactions involving Ms. Blackwell.