Summary
Williams Companies, Inc. (WMB) filed an 8-K on August 6, 2018, to report the appointment of Vicki L. Fuller to its Board of Directors, effective July 31, 2018. Ms. Fuller will serve on the Audit and Nominating and Governance Committees. This appointment is a standard addition to the Board and does not appear to be related to any significant operational or financial changes within the company at this time. Investors should note that Ms. Fuller will receive standard compensation for non-employee directors, including an annual cash retainer of $110,000 and an annual equity retainer of $165,000 in restricted stock units, deferred until her retirement from the Board. The filing also confirms that there are no undisclosed arrangements or relationships between Ms. Fuller and the Company that would require disclosure under SEC regulations, indicating a straightforward addition to the Board. A press release detailing this appointment was issued on July 31, 2018, and is attached as an exhibit.
Key Highlights
- 1Appointment of Vicki L. Fuller to the Board of Directors, effective July 31, 2018.
- 2Ms. Fuller appointed to serve on the Audit Committee and the Nominating and Governance Committee.
- 3Ms. Fuller will receive standard compensation for non-employee directors.
- 4Annual cash retainer for Ms. Fuller: $110,000, paid quarterly.
- 5Annual equity retainer for Ms. Fuller: $165,000 in restricted stock units, deferred until retirement.
- 6No reportable related-party transactions or undisclosed arrangements involving Ms. Fuller.
- 7Press release dated July 31, 2018, attached as Exhibit 99.1.