ESTERLINE TECHNOLOGIES CORPORATION (NYSE:ESL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Effective May16, 2017, the Board of Directors (the Board) of
Esterline Technologies Corporation (Esterline) increased the size
of the Board from nine (9)to ten (10)directors and elected
Michael J. Covey to serve as a director of Esterline. Mr.Covey
was appointed to the class of directors whose term expires at the
2020 annual stockholders meeting. Mr.Covey has not initially been
appointed to any Board committees.
Mr.Coveys election results from a search and selection process
conducted by Esterlines Nominating Corporate Governance Committee
to fill a vacancy caused by the retirement of Mr.James Morris as
a director of Esterline in February 2017. In accordance with the
agreement with First Pacific Advisors, LLC and certain of its
affiliates named in the agreement (collectively, FPA) dated
October18, 2016, the Nominating Corporate Governance Committee
gave due and careful consideration to the potential candidates
submitted by FPA and shared with FPA information pertaining to
the other final proposed candidates it considered, including
Mr.Covey.
For his service as a non-employee director,
Mr.Covey will be entitled to receive the standard compensation
for non-employee directors of Esterline. Esterline will also
reimburse Mr.Covey for out-of-pocket expenses incurred in
connection with attendance or participation at meetings. The
non-employee director compensation program is described in
further detail in Esterlines proxy statement for its 2017 Annual
Meeting filed with the Securities and Exchange Commission on
December29, 2016.
| Item7.01. | Regulation FD Disclosure. |
On May17, 2017,
Esterline issued a press release announcing the election of
Mr.Covey as a director, which is furnished as Exhibit 99.1 to
this report.
| Item9.01. | Financial Statements and Exhibits. |
(d)
Exhibits.
|
Exhibit No. |
Description |
|
| 99.1 |
Press release issued by Esterline Technologies Corporation dated May17, 2017. |
About ESTERLINE TECHNOLOGIES CORPORATION (NYSE:ESL)
Esterline Technologies Corporation is a specialized manufacturing company. The Company designs, manufactures and markets engineered products and systems for application within the industries it serves. The Company operates through three segments: Avionics & Controls, Sensors & Systems, and Advanced Materials. The Company serves aerospace and defense customers. The Company’s Avionics & Controls business segment includes avionics systems, control and communication systems, and interface technologies capabilities. The Company’s Sensors & Systems business segment includes power systems, connection technologies and advanced sensors capabilities. The Company’s Advanced Materials business segment includes engineered materials and defense technologies capabilities. The Company designs and manufactures ruggedized military personal communication equipment, primarily headsets, handsets and field communications. ESTERLINE TECHNOLOGIES CORPORATION (NYSE:ESL) Recent Trading Information
ESTERLINE TECHNOLOGIES CORPORATION (NYSE:ESL) closed its last trading session down -0.95 at 91.65 with 108,117 shares trading hands.