01—Abstract
Summary
Summary of the 8-K filed May 29, 2024. Cited figures are marked; the original filing is the authoritative source.
Northern Trust Corporation (Nasdaq: NTRS) filed this Form 8-K on May 29, 2024 to report the election of Chandra Dhandapani to its Board of Directors.
The Board elected her as a director of the Corporation on that date, and she was also elected a director of The Northern Trust Company, the Corporation's principal subsidiary. The Board has not yet determined which committees she will join. As a non-employee director, Dhandapani will participate in the Corporation's Non-Employee Director Compensation Plan and will be eligible for its 2018 Deferred Compensation Plan for Non-Employee Directors, both described in the most recent proxy statement.
She will receive equity awards for service through the 2025 Annual Meeting of Stockholders, consistent with annual awards to non-employee directors and prorated for the effective date of her appointment. The accompanying press release describes Dhandapani as a senior advisor at CBRE Group, Inc. who previously served as CEO of CBRE's Global Workplace Solutions segment and as a senior technology executive at Capital One Financial for 17 years.
The filing quotes Chairman and CEO Michael O'Grady saying her technology, management and financial industry experience will benefit the company. The filing reports no financial results.
02—Key points
Key Highlights
- Chandra Dhandapani was elected to the Northern Trust Corporation Board of Directors on May 29, 2024.
- She was also elected a director of The Northern Trust Company, the Corporation's principal subsidiary.
- Board committee assignments have not yet been determined.
- She will receive equity awards under the Non-Employee Director Compensation Plan, prorated for her appointment date, for service through the 2025 Annual Meeting of Stockholders.
- She is eligible for the 2018 Deferred Compensation Plan for Non-Employee Directors.
- Her background includes CBRE Group, Inc., where she was CEO of the Global Workplace Solutions segment, and 17 years at Capital One Financial in technology and operations roles.
- The filing reports no financial results; the Item 9.01 press release is the only exhibit.
03—Questions
Frequently Asked Questions
Who was appointed to Northern Trust's Board of Directors?
Chandra Dhandapani was elected to the Board of Directors of Northern Trust Corporation on May 29, 2024, and was also elected a director of The Northern Trust Company.
What committees will Ms. Dhandapani serve on?
The Board has not yet determined which committees she will be named to.
How will Ms. Dhandapani be compensated?
She will participate in the Non-Employee Director Compensation Plan and is eligible for the 2018 Deferred Compensation Plan for Non-Employee Directors. She will receive equity awards for service through the 2025 Annual Meeting of Stockholders, consistent with annual awards to non-employee directors and prorated for her appointment date.
What is Ms. Dhandapani's professional background?
According to the press release, she is currently a senior advisor at CBRE Group, Inc., where she previously led the Global Workplace Solutions segment as CEO. Before CBRE, she spent 17 years at Capital One Financial in technology, marketing, analytics and operations roles, ending as Chief Information Officer of the bank's Financial Services division.
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