Summary
Williams Companies, Inc. (WMB) filed an 8-K report on February 13, 2023, primarily detailing changes to its Board of Directors. Nancy K. Buese resigned from the Board, effective February 10, 2023, due to scheduling conflicts arising from her new role as CFO at Baker Hughes. Ms. Buese had been a director since 2018 and served on the Compensation and Management Development and Environmental, Health and Safety committees. Concurrently, the Board appointed Carri A. Lockhart as a new director, also effective February 10, 2023. Ms. Lockhart, deemed an independent director, will fill the vacancies on the Compensation and Management Development and Environmental, Health and Safety committees. Her appointment maintains the Board's size at twelve directors. Ms. Lockhart will receive standard compensation for non-employee directors, including an annual cash retainer of $115,000 and an equity retainer of $175,000 in restricted stock units.
Key Highlights
- 1Nancy K. Buese resigned from the Board of Directors effective February 10, 2023.
- 2Ms. Buese's resignation is due to schedule conflicts with her new role as CFO of Baker Hughes.
- 3Carri A. Lockhart was appointed to the Board of Directors effective February 10, 2023.
- 4Ms. Lockhart has been determined to be an independent director.
- 5Ms. Lockhart will serve on the Compensation and Management Development and Environmental, Health and Safety committees.
- 6The Board of Directors will remain at twelve members.
- 7Ms. Lockhart will receive standard compensation for non-employee directors, including cash and equity retainers.