Summary
Newmont Mining Corporation announced a change in its Board of Directors via an 8-K filing on October 22, 2008. The size of the Board was increased to 12 members with the election of Simon R. Thompson. Mr. Thompson was also appointed to the Operations and Safety Committee, indicating a focus on operational and safety oversight at the board level. In connection with his election, Mr. Thompson received director stock units valued at $120,000 and will be compensated according to the company's standard non-employee director compensation policies. This filing does not involve significant financial restatements or major business strategy shifts, but rather a governance update.
Key Highlights
- 1Board size increased to 12 directors.
- 2Simon R. Thompson elected to the Board of Directors.
- 3Simon R. Thompson appointed to the Operations and Safety Committee.
- 4Director stock units valued at $120,000 granted to Mr. Thompson.
- 5Mr. Thompson's compensation will follow standard non-employee director policies.
- 6No reportable transactions between Mr. Thompson and Newmont exceeding $120,000.
Frequently Asked Questions
The primary purpose of this 8-K filing is to report a change in the registrant's board of directors, specifically the election of a new director and an increase in the board's size.
Simon R. Thompson has been elected to the Board of Directors of Newmont Mining Corporation and appointed to the Operations and Safety Committee. He will serve as a non-employee director.
Mr. Thompson was granted director stock units valued at $120,000 upon his election. He will also receive compensation in accordance with the company's established policies for non-employee directors, as detailed in its 2008 Proxy Statement.
The filing states that there have been no transactions with Newmont exceeding $120,000 in which Mr. Thompson had a direct or indirect interest, and there are no arrangements or understandings with other persons concerning his selection as a director.