8-KLeadership ChangesExhibits & Filings

WILLIAMS COMPANIES, INC. 8-K Report, Executive Changes (Jun 5, 2018)

Filed June 5, 2018For Securities:WMB

Summary

Williams Companies, Inc. (WMB) filed an 8-K on June 5, 2018, primarily to announce a change in its Board of Directors. Effective June 4, 2018, Nancy K. Buese was appointed as a new independent director. Ms. Buese will also serve on the Compensation and Management Development and the Environmental, Health and Safety Committees, indicating a focus on governance and operational oversight. Her compensation as a non-employee director includes a standard annual cash retainer of $110,000 and an annual equity retainer valued at $165,000 in restricted stock units, which are deferred.

Key Highlights

  • 1Appointment of Nancy K. Buese as a new independent director to the Board, effective June 4, 2018.
  • 2Ms. Buese will serve on the Compensation and Management Development Committee.
  • 3Ms. Buese will serve on the Environmental, Health and Safety Committee.
  • 4Non-employee director compensation includes an annual cash retainer of $110,000.
  • 5Non-employee director compensation includes an annual equity retainer of $165,000 in deferred restricted stock units.
  • 6No reportable related-party transactions or arrangements involving Ms. Buese are disclosed.
  • 7The filing includes a press release dated June 4, 2018, as an exhibit.

Frequently Asked Questions

Nancy K. Buese has been appointed as a new independent director to the Board of Directors of Williams Companies, Inc. She will also serve on the Compensation and Management Development and the Environmental, Health and Safety Committees. Her appointment is effective June 4, 2018.

As a non-employee director, Ms. Buese will receive an annual cash retainer of $110,000, paid quarterly, and an annual equity retainer of $165,000 in the form of restricted stock units. The equity retainer is deferred and will not be distributed until her retirement from the Board.

The filing states that there are no arrangements or understandings between Ms. Buese and any other person in connection with her appointment. She is not related to any officer or director, and there are no reportable transactions or relationships with the Company under Item 404(a) of Regulation S-K.