Summary
Microsoft Corporation (MSFT) filed an 8-K report on March 10, 2009, to announce a significant change in its Board of Directors. The key event reported is the appointment of Dr. Maria Klawe as a new director, effective immediately. Dr. Klawe, currently the president of Harvey Mudd College, brings her expertise to the board, which is a move that investors should note for its potential impact on board composition and strategic oversight. The report also details the compensation structure for Dr. Klawe as a non-employee director, which includes an annual retainer of $200,000, with a substantial portion ($120,000) provided in stock awards. This equity-based compensation aligns director incentives with shareholder value. Additionally, the standard director indemnification agreement was executed, ensuring protection for Dr. Klawe's board service. This filing is primarily informational, focusing on governance and director appointments.
Key Highlights
- 1Microsoft appointed Dr. Maria Klawe to its Board of Directors, effective immediately.
- 2Dr. Maria Klawe is the president of Harvey Mudd College and brings external leadership experience.
- 3Dr. Klawe will receive an annual retainer of $200,000 as a non-employee director.
- 4Approximately $120,000 of Dr. Klawe's annual retainer will be in the form of stock awards, aligning her interests with shareholders.
- 5Standard director indemnification agreement executed with Dr. Klawe.
- 6The filing was made on March 10, 2009, reporting an event from March 9, 2009.