01—Abstract
Summary
Summary of the 8-K filed July 2, 2018. Cited figures are marked; the original filing is the authoritative source.
United Rentals, Inc. (URI) announced a significant leadership change in its finance department via an 8-K filing on July 2, 2018.
Executive Vice President and Chief Financial Officer, William B. Plummer, will retire effective October 12, 2018, after a transition period extending to January 31, 2019, where he will provide advisory services. Ms. Jessica T.
Graziano, currently Senior Vice President – Controller and principal accounting officer, has been appointed to succeed Mr. Plummer as the new Chief Financial Officer. The filing includes details on Mr. Plummer's retirement benefits, specifically accelerated vesting of certain restricted stock units. Investors should note that Ms. Graziano's background and qualifications are incorporated by reference from the Company's 2018 Proxy Statement.
02—Key points
Key Highlights
- William B. Plummer, EVP & CFO, to retire on October 12, 2018.
- Jessica T. Graziano appointed as the new Chief Financial Officer, succeeding Mr. Plummer.
- Mr. Plummer will continue in an advisory capacity until January 31, 2019.
- Accelerated vesting of certain restricted stock units for Mr. Plummer upon retirement.
- Ms. Graziano's qualifications are referenced from the Company's 2018 Proxy Statement.
- No disclosed family relationships or significant transactions (Item 404(a)) involving Ms. Graziano and current officers/directors.
- An amendment to the 8-K will be filed to disclose any material agreements related to Ms. Graziano's appointment.
03—Questions
Frequently Asked Questions
What is the main reason for this 8-K filing?
This 8-K filing is primarily to announce the retirement of United Rentals' Executive Vice President and Chief Financial Officer, William B. Plummer, and the appointment of Jessica T. Graziano as his successor.
What happens to William B. Plummer after his retirement date?
Mr. Plummer will retire as CFO on October 12, 2018, but will remain with the company in an advisory and transition capacity until January 31, 2019.
Who is taking over as the new CFO and what is her background?
Jessica T. Graziano, who currently serves as Senior Vice President – Controller and principal accounting officer, will become the new Chief Financial Officer. Details regarding her qualifications are incorporated by reference from the Company's 2018 Proxy Statement.
Are there any immediate financial implications for Mr. Plummer upon retirement?
Yes, Mr. Plummer will be eligible for retirement treatment under existing equity award agreements, and specific restricted stock units granted in 2018 and 2016 will vest as of his retirement date, subject to the terms of the agreements.
04—Continue