GENERAL MOTORS COMPANY (TSE:GMM.U) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On October 8, 2018, the Board of Directors (the “Board”) of General Motors Company (“GM”) elected Judith A. Miscik as a member of the Board. The Board has determined that Ms. Miscik is an independent director under New York Stock Exchange listing standards and GM’s independence guidelines, as set forth in its Corporate Governance Guidelines. Ms. Miscik has not yet been named to any committees of the Board.
Like the other non-employee members of the Board, Ms. Miscik will receive an annual retainer of $285,000 for her service on the Board (prorated to reflect the date her service began) and personal accident insurance and will participate in the company vehicle program.
Under the General Motors Company Deferred Compensation Plan for Non-Employee Directors (the “Plan”), Ms. Miscik is required to defer 50% of her annual Board retainer into GM’s Deferred Share Units (“DSUs”) and may elect to defer all or 50% of her remaining Board compensation in additional DSUs. Amounts deferred and credited as DSUs under the Plan will not be available until after Ms. Miscik retires or otherwise leaves the Board, at which time she will receive a cash payment or payments based on the number of DSUs in her account, valued at the average daily market price for the quarter immediately preceding payment.
A copy of the press release announcing Ms. Miscik’s election is attached hereto as Exhibit 99.1 and incorporated herein by reference.
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Item 5.02. |
Financial Statements and Exhibits |
EXHIBIT
General Motors Co ExhibitEX-99.1 2 gmjamimiscikboardpressrele.htm EXHIBIT 99.1 Exhibit Exhibit 99.1For Immediate Release: Wednesday,…To view the full exhibit click here
