Summary
This filing is an amendment to a previous 8-K report by Parker-Hannifin Corporation (PH), originally filed on August 23, 2010. The amendment, filed on November 1, 2010, specifically addresses and provides previously unavailable information regarding committee assignments for two newly elected directors, Robert G. Bohn and Åke Svensson. These appointments were made effective August 19, 2010, and subsequently confirmed at the October 2010 Annual Meeting of Shareholders. For investors, the key takeaway is the formalization of director roles on important board committees. Mr. Bohn has been assigned to the Audit Committee and the Corporate Governance and Nominating Committee. Mr. Svensson will serve on the Audit Committee and the Finance Committee. Both directors are eligible for the company's standard non-employee director compensation, and neither is involved in any reportable related-party transactions. This information clarifies the governance structure and the oversight responsibilities of these new board members.
Key Highlights
- 1Amendment to a prior 8-K filing, providing updated information on director committee assignments.
- 2Robert G. Bohn and Åke Svensson were elected as directors on August 19, 2010, with their terms expiring at the October 2010 Annual Meeting.
- 3Mr. Bohn appointed to the Audit Committee and the Corporate Governance and Nominating Committee.
- 4Mr. Svensson appointed to the Audit Committee and the Finance Committee.
- 5Both directors are subject to the company's non-employee director compensation plan.
- 6No related-party transactions (as defined by Item 404(a) of Regulation S-K) involving the new directors were reported.