Summary
Moody's Corporation (MCO) announced a change to its Board of Directors, appointing Zig Serafin as a new director, effective July 14, 2021. Mr. Serafin brings significant experience from his current role as CEO of Qualtrics International and prior leadership positions at Microsoft. His appointment is expected to enhance the board's expertise, particularly with his committee assignments to Audit, Governance & Nominating, and Compensation & Human Resources. This addition brings the total number of directors to ten. Investors should note Mr. Serafin's compensation structure, which includes an annual cash retainer and a restricted stock unit award, aligning his interests with those of shareholders. The company also provided a press release detailing this announcement as an exhibit to the filing.
Key Highlights
- 1Zig Serafin appointed to Moody's Board of Directors, effective July 14, 2021.
- 2Mr. Serafin's appointment increases the Board size to ten directors.
- 3He brings executive leadership experience from Qualtrics International and Microsoft.
- 4Serafin will serve on the Audit, Governance & Nominating, and Compensation & Human Resources Committees.
- 5Non-employee director compensation includes an annual cash retainer of $105,000.
- 6Restricted stock unit award valued at $180,000 to be granted, vesting one year after grant.
- 7Press release detailing the appointment furnished as Exhibit 99.1.