Who is Roger C. Corbett and why was he appointed to the Board?

Roger C. Corbett has been appointed as a director to the Wal-Mart Board. The filing states there are no specific arrangements or understandings for his appointment, suggesting it's a strategic addition to the board. He was also appointed to the Strategic Planning and Finance Committee, indicating his expertise may be valuable in financial oversight and strategic decision-making.

What is the financial impact of Roger Corbett's appointment on Wal-Mart?

The financial impact of Mr. Corbett's appointment is primarily related to his director compensation. He will receive a prorated portion of the non-management director's compensation, which includes a stock award of 1,576 shares and a prorated annual retainer of $60,000. Wal-Mart will also cover travel expenses for his spouse attending meetings. This represents a standard cost of having independent directors on the board.

Are there any potential conflicts of interest with Roger Corbett's appointment?

The filing explicitly states that there are no arrangements or understandings between Mr. Corbett and any other persons pursuant to which he was appointed. Furthermore, he and his immediate family members have not been involved in any reportable transactions with Wal-Mart since the beginning of fiscal year 2006. This suggests a clean slate with no immediate conflicts of interest disclosed.

How will Roger Corbett be compensated as a director?

Mr. Corbett will be compensated according to the Wal-Mart Stores, Inc. Director Compensation Plan. This includes a prorated stock award of 1,576 shares and a prorated annual retainer of $60,000, payable quarterly. He has flexibility to receive this retainer in cash, Wal-Mart common stock, or deferred stock units.

WMT 8-K: Leadership Changes

Summary

This Form 8-K filing from Wal-Mart Stores, Inc. (WMT) reports a significant change in its Board of Directors. On November 17, 2006, the Board appointed Roger C. Corbett as a new director and also assigned him to the Strategic Planning and Finance Committee. This appointment is notable as it brings new leadership and potentially strategic guidance to a key committee. Investors should note that Mr. Corbett's appointment appears to be standard and he has no undisclosed arrangements or prior disclosable transactions with Wal-Mart. His compensation as a non-management director will follow the company's established Director Compensation Plan, including a prorated stock award and annual retainer, offering a direct stake in the company's performance.

Key Highlights

1Appointment of Roger C. Corbett as a new director to the Wal-Mart Board.
2Roger C. Corbett appointed to the Strategic Planning and Finance Committee.
3No undisclosed arrangements or prior reportable transactions between Mr. Corbett and Wal-Mart.
4Mr. Corbett to receive prorated compensation as a non-management director.
5Compensation includes a prorated stock award of 1,576 shares.
6Annual retainer of $60,000 to be paid quarterly, with flexibility in cash or stock.
7Wal-Mart will cover travel expenses for Mr. Corbett's spouse accompanying him to meetings, including related taxes.

Walmart Inc. 8-K Report, Executive Changes (Nov 20, 2006)

Summary

Key Highlights

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