01—Abstract
Summary
Summary of the 8-K/A filed January 25, 2024. Cited figures are marked; the original filing is the authoritative source.
Las Vegas Sands Corp. (LVS) filed this amendment to its Current Report on Form 8-K from January 18, 2024.
The Board of Directors had elected Alain Li as a new director on January 18, 2024, effective January 22, 2024. The amendment reports that on January 22, 2024, the Board appointed Mr. Li to its Audit, Nominating and Governance, and Compliance Committees, effective immediately, which the original report had not yet covered. The Board also decreased its size to seven directors.
Committee members are compensated under the 'Director Compensation' section of the company's 2023 proxy statement, filed March 31, 2023, with the annual committee member retainers increased to $20,000a for the Audit Committee and $10,000 for each of the Compliance and Nominating and Governance Committees. For investors, the filing is a governance update rather than a financial disclosure. It shows board composition changes and higher annual retainers for certain committee members, and it contains no financial results or other financial figures.
02—Key points
Key Highlights
- Alain Li was elected to the Board of Directors on January 18, 2024, effective January 22, 2024.
- On January 22, 2024, the Board appointed Mr. Li to the Audit, Nominating and Governance, and Compliance Committees, effective immediately.
- The Board decreased its size to seven directors.
- The annual committee member retainer for the Audit Committee was increased to $20,000.
- The annual committee member retainer for each of the Compliance and Nominating and Governance Committees was increased to $10,000.
- Committee compensation is described under 'Director Compensation' in the 2023 proxy statement filed March 31, 2023.
- The filing amends the Original Report filed January 18, 2024, which had stated Mr. Li had not yet been assigned to any committee.
03—Questions
Frequently Asked Questions
Who joined the Las Vegas Sands board and when?
The Board elected Alain Li as a director on January 18, 2024, effective January 22, 2024.
Which committees does Mr. Li serve on?
On January 22, 2024, the Board appointed Mr. Li to the Audit, Nominating and Governance, and Compliance Committees, effective immediately.
Did the size of the Board change?
Yes. The Board decreased its size to seven directors.
How is compensation for committee members changing?
The annual committee member retainer is $20,000 for the Audit Committee and $10,000 for each of the Compliance and Nominating and Governance Committees. Other committee compensation follows the 'Director Compensation' section of the company's 2023 proxy statement filed March 31, 2023.
Why was this amendment filed?
The amendment supplements the Original Report filed January 18, 2024, to disclose Mr. Li's committee appointments and the reduction in Board size, which the Original Report did not include.
04—Continue