Summary
This 8-K filing from AT&T Inc. (T) announces a change to its Board of Directors, effective June 24, 2016. The Board's size has been expanded from 12 to 13 members with the appointment of Geoffrey Y. Yang. Mr. Yang has also been assigned to the Corporate Development and Finance Committee, indicating his involvement in key strategic and financial decision-making processes. Investors should note that his appointment is subject to the company's standard compensation program for non-employee directors and he has been deemed independent by the Board, meeting both NYSE and AT&T's internal criteria.
Key Highlights
- 1AT&T Inc. has increased its Board of Directors size from 12 to 13 members.
- 2Geoffrey Y. Yang has been elected as a new Director to the Board.
- 3Mr. Yang has been appointed to the Corporate Development and Finance Committee.
- 4The new director will receive compensation as per the non-employee Director program.
- 5Geoffrey Y. Yang has been determined to be an independent director.
- 6Independence criteria met include both NYSE standards and AT&T's specific guidelines.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce the appointment of a new director, Geoffrey Y. Yang, and the subsequent increase in the size of AT&T's Board of Directors.
Mr. Yang has been appointed to the Corporate Development and Finance Committee.
Yes, the Board of Directors has determined that Mr. Yang is independent, meeting the requirements of the New York Stock Exchange and AT&T's own independence standards.
Mr. Yang will participate in the compensation program established for AT&T's non-employee Directors, as detailed in the company's 2016 Proxy Statement.