ITC HOLDINGS CORP. (NYSE:ITC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ITC HOLDINGS CORP. (NYSE:ITC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Directors

On December 31, 2016 the shareholder of ITC Holdings Corp. (the “Company”) approved the Board of Directors’ (the “Board”) recommendation to expand the size of the Board from nine to ten directors and appointed Robert A. Elliott as a director of the Company. There are no understandings or arrangements between Mr. Elliott and any other person to which Mr. Elliott was selected as a director of the Company. Mr. Elliott does not have any familial relationship with any director or executive officer of the Company. It has not yet been determined on which committees of the Board Mr. Elliott will serve. The appointment of Mr. Elliott as a new director was effective on January 1, 2017.

In connection with his service as director, Mr. Elliott will receive the Company’s standard non-employee director cash compensation. Specifically, Mr. Elliott will receive a $125,000 annual cash retainer (payable in equal quarterly installments), as well as an annual cash payment if he serves as chair of any committee or as chairman of the board of directors.



About ITC HOLDINGS CORP. (NYSE:ITC)

ITC Holdings Corp. (ITC Holdings) is a holding company. The Company is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company’s business consists primarily of the electric transmission operations of its Regulated Operating Subsidiaries. Its Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest). The operations performed by its Regulated Operating Subsidiaries fall into the various categories, such as asset planning; engineering, design and construction; maintenance, and real time operations. Its customers include investor-owned utilities, municipalities, cooperatives, power marketers and alternative energy suppliers. It owns and operates high-voltage systems in Michigan’s Lower Peninsula and portions of Iowa, Minnesota, Illinois, Missouri, Kansas and Oklahoma.

ITC HOLDINGS CORP. (NYSE:ITC) Recent Trading Information

ITC HOLDINGS CORP. (NYSE:ITC) closed its last trading session at 0.0000 with 31,080,598 shares trading hands.