8-KLeadership ChangesExhibits & Filings

MOODYS CORP /DE/ 8-K Report, Executive Changes (Dec 18, 2013)

Filed December 18, 2013For Securities:MCO

Summary

Moody's Corporation (MCO) filed an 8-K on December 18, 2013, primarily to report a change in its Board of Directors. Robert R. Glauber, a current board member, has decided not to seek re-election at the upcoming 2014 Annual Meeting of Stockholders. This departure, while noted, is a planned transition. More significantly for investors, the company announced the immediate election of Leslie Seidman to its Board of Directors. Ms. Seidman brings substantial experience in financial reporting, having served on the Financial Accounting Standards Board (FASB), including as its Chairman. Her appointment to the Board and its key committees (Audit, Governance, Compensation) is effective immediately and brings the Board's total number of directors to ten. Investors can view this as a move to enhance board oversight and expertise, particularly in financial accounting matters.

Key Highlights

  • 1Robert R. Glauber will not stand for re-election to the Board of Directors at the 2014 Annual Meeting.
  • 2Leslie Seidman has been elected as a new member of the Board of Directors, effective immediately.
  • 3Ms. Seidman's appointment brings the total number of directors to ten.
  • 4She has been appointed to the Board's Audit, Governance, and Compensation Committees.
  • 5Ms. Seidman has extensive experience, including serving as Chairman of the Financial Accounting Standards Board (FASB).
  • 6She will receive an annual cash retainer of $80,000 and a restricted stock award valued at $145,000, vesting after one year.
  • 7A press release detailing Ms. Seidman's election is included as an exhibit to the filing.

Frequently Asked Questions

The filing announces that Robert R. Glauber will not seek re-election to the Board of Directors. Concurrently, Leslie Seidman has been elected as a new member of the Board, effective immediately, and appointed to key committees.

Leslie Seidman has a strong background in financial accounting and reporting, having served on the Financial Accounting Standards Board (FASB) and as its Chairman. Her expertise is expected to be valuable to the Board, particularly in areas like financial oversight and governance.

Ms. Seidman will receive an annual cash retainer of $80,000, paid quarterly, and a restricted stock award valued at $145,000, which will vest one year after the grant date in February 2014.

No, this 8-K filing does not contain any financial performance data. It is solely focused on reporting changes to the company's Board of Directors and related appointments.