Summary
This 8-K filing from Valero Energy Corp. (VLO), dated January 21, 2008, primarily reports on a change in executive compensation. The Compensation Committee of the Board of Directors approved an increase in the annual base salary for Michael S. Ciskowski, Executive Vice President and Chief Financial Officer. Mr. Ciskowski's new base salary is set at $700,000. This adjustment reflects a change in the compensation package for a key financial executive within the company. Investors should note this change as it impacts the company's operating expenses related to executive remuneration.
Key Highlights
- 1Valero Energy Corp. (VLO) filed an 8-K report on January 21, 2008.
- 2The filing pertains to the compensation arrangements of certain officers.
- 3The Compensation Committee approved an increase in annual base salary for Michael S. Ciskowski, EVP and CFO.
- 4Mr. Ciskowski's new annual base salary is set at $700,000.
- 5The change was approved on January 16, 2008.
- 6The filing is an "event-driven" disclosure concerning executive compensation adjustments.
Frequently Asked Questions
The main purpose of this 8-K filing is to report an increase in the annual base salary for Valero Energy's Executive Vice President and Chief Financial Officer, Michael S. Ciskowski.
The new annual base salary for Michael S. Ciskowski is $700,000.
The increase in Mr. Ciskowski's annual base salary was approved by the Compensation Committee on January 16, 2008.
Based solely on the provided content of this 8-K filing, the only reported change is the salary adjustment for the CFO. No other departures, elections, or appointments of officers or directors are mentioned.