Summary
This Morgan Stanley 8-K filing from February 2016 reports on the compensation adjustments for Colm Kelleher, who was appointed President of the Company on January 6, 2016. The Compensation, Management Development and Succession Committee approved a base salary of $1.2 million for Mr. Kelleher, effective retroactively from January 1, 2016. In addition to the base salary, the filing also outlines standard relocation benefits and the continuation of a monthly housing allowance for Mr. Kelleher, reflecting his relocation from the UK to the US. These details are important for investors as they provide transparency into the compensation structure for key executive leadership during a period of significant role change.
Key Highlights
- 1Colm Kelleher, appointed President on January 6, 2016, received a base salary adjustment.
- 2Approved base salary for Mr. Kelleher is $1.2 million.
- 3The salary adjustment is retroactive to January 1, 2016.
- 4Mr. Kelleher will receive standard relocation benefits.
- 5Continuation of a monthly housing allowance for Mr. Kelleher is also approved.
- 6These benefits are related to his relocation from the UK to the US.
Frequently Asked Questions
Colm Kelleher was appointed President of Morgan Stanley effective January 6, 2016. This filing details aspects of his compensation related to this new role.
The filing states that Colm Kelleher's base salary was set at $1.2 million, retroactive to January 1, 2016. He will also receive standard relocation benefits and a continued monthly housing allowance due to his move from the UK to the US.
This information is being reported on an 8-K because it concerns a compensatory arrangement for a named executive officer, which falls under Item 5.02 of Form 8-K.