8-KEarnings & ResultsLeadership ChangesRegulation FD+1

MOODYS CORP /DE/ 8-K Report, Financial Results (Feb 13, 2024)

Filed February 13, 2024For Securities:MCO

Summary

Moody's Corporation (MCO) has filed an 8-K report on February 13, 2024, detailing its fourth quarter and full-year 2023 financial results and providing its 2024 outlook. This filing also announced a significant leadership change in its finance department with the appointment of Noémie C. Heuland as the new Senior Vice President and Chief Financial Officer, effective April 1, 2024. Investors should note that the financial results themselves are presented in an attached press release (Exhibit 99.1) and are furnished, not filed, under Section 18 of the Exchange Act, meaning they are not subject to the same liabilities as filed information. This information should not be automatically incorporated into future SEC filings unless explicitly referenced. The appointment of Ms. Heuland marks a strategic move for Moody's, bringing in a CFO with extensive experience from global technology companies like Dayforce (formerly Ceridian) and SAP, along with a background at PricewaterhouseCoopers. Her compensation package includes a substantial base salary, bonus opportunity, and a significant initial equity grant, reflecting the importance of this role. The company also provided its forward-looking guidance for 2024, which will be further detailed in the accompanying press release.

Key Highlights

  • 1Moody's Corporation announced its Q4 and full-year 2023 financial results and 2024 outlook on February 13, 2024.
  • 2Noémie C. Heuland appointed as the new Senior Vice President and Chief Financial Officer, effective April 1, 2024.
  • 3Ms. Heuland brings extensive financial leadership experience from Dayforce (formerly Ceridian HCM Holding Inc.) and SAP.
  • 4Ms. Heuland's compensation package includes an initial base salary of $750,000, a 2024 target bonus of $1,000,000, and a $2,000,000 one-time equity grant.
  • 5The financial results and 2024 outlook are provided via press release (Exhibit 99.1) and are furnished, not filed under Section 18.
  • 6Information in this report is not incorporated by reference into future filings unless specifically stated.

Frequently Asked Questions

This 8-K filing primarily announces that Moody's Corporation released its fourth quarter and full-year 2023 financial results, along with its outlook for 2024, on February 13, 2024. The detailed financial figures and outlook are provided in an attached press release (Exhibit 99.1).

Noémie C. Heuland has been appointed as the new Senior Vice President and Chief Financial Officer. She is expected to join the company on April 1, 2024, succeeding the interim principal financial officer, Caroline Sullivan.

Ms. Heuland, age 46, has a strong financial background, having previously served as CFO at Dayforce, Inc. (formerly Ceridian HCM Holding Inc.) and in senior finance roles at SAP. Her compensation includes an initial annual base salary of $750,000, a 2024 target bonus opportunity of $1,000,000, and a significant one-time equity grant valued at $2,000,000.

Information that is 'furnished' under Item 2.02 of an 8-K, as is the case with the financial results in this filing, is not subject to the liabilities of Section 18 of the Exchange Act. This means the company has fewer legal obligations concerning the accuracy of this specific furnished information compared to information formally 'filed' with the SEC. Additionally, furnished information is generally not incorporated by reference into future SEC filings unless explicitly stated by the company.