Summary
This 8-K filing from Mastercard Inc. (MA) reports a significant change in its Board of Directors. On April 29, 2011, the company elected Rima Qureshi, Senior Vice President and Business Head at Ericsson, to its Board. This appointment is a key development, indicating the company's ongoing efforts to refresh its leadership with diverse industry expertise. Ms. Qureshi has been nominated for re-election at the upcoming Annual Meeting and will receive a grant of deferred stock units as part of her compensation as a non-employee director. The filing details the calculation of this equity award, which is tied to the company's Class A common stock performance and aligns director compensation with shareholder interests.
Key Highlights
- 1Mastercard elected Rima Qureshi, a Senior Vice President at Ericsson, to its Board of Directors on April 29, 2011.
- 2Ms. Qureshi is nominated for re-election at the company's Annual Meeting on June 7, 2011.
- 3The election of Ms. Qureshi brings new industry expertise to the Board.
- 4As a non-employee director, Ms. Qureshi was granted 61 Mastercard deferred stock units.
- 5The deferred stock units are settled in Class A common stock on April 29, 2015.
- 6The equity award is prorated based on her tenure as a director before the Annual Meeting.
- 7The compensation structure for non-employee directors aligns their interests with Class A common stock performance.