L3 TECHNOLOGIES, INC. (NYSE:LLL) 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.
On May 8, 2018, the Board of Directors (the “Board”) of L3 Technologies, Inc. (the “Company”) increased the number of directors on the Board from nine to ten and appointed Rita S. Lane to serve as a director of the Company. Ms. Lane has also been designated as a member of each of the Audit and Ethics Committee and the Nominating/Corporate Governance Committee of the Board. The Company expects Ms. Lane to stand for election at the annual meeting of shareholders in May 2019.
Ms. Lane’s compensation for her services as a director will be consistent with that of the Company’s other non-employee directors. Accordingly, she will receive the annual board member cash retainer for service on the Board (currently $115,000 per year) and the annual audit committee member retainer for service on the Audit and Ethics Committee (currently $20,000). Ms. Lane also received a grant of restricted stock units on May 8, 2018 with an aggregate grant date fair value of $145,000, consistent with the Company’s annual board member equity award granted to all other non-employee directors of the Company on that date.
Other than the standard compensation arrangements described above, there are no arrangements or understandings between Ms. Lane and any other person to which she was appointed as a director. Ms. Lane is not a party to any transaction that would require disclosure under Item 404(a) of Regulation S-K.
The Company issued a press release on May 9, 2018, announcing theappointment of Ms. Lane. The press release is attached hereto as Exhibit 99.
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Item 9.01. |
Financial Statements and Exhibits |
(d) Exhibits
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Press Release dated May 9, 2018, announcing the appointment of Rita S. Lane as a director of the Company. |
L3 TECHNOLOGIES, INC. ExhibitEX-99 2 ex99.htm EXHIBIT 99 Exhibit 99.1 Contact: L3 Technologies Corporate Communications 212-697-1111 For Immediate Release L3 Appoints Rita S. Lane to Its Board of Directors NEW YORK,…To view the full exhibit click here
About L3 TECHNOLOGIES, INC. (NYSE:LLL)
L3 Technologies, Inc., formerly L-3 Communications Holdings, Inc., is engaged as a contractor in Intelligence, Surveillance and Reconnaissance (ISR) systems, aircraft sustainment (including modifications, logistics and maintenance), simulation and training, night vision and image intensification equipment, and security and detection systems. The Company operates in three segments: Electronic Systems, Aerospace Systems and Communication Systems. The Company is a provider of communication and electronic systems and products used on military and commercial platforms. Its divisions include Advanced Programs, Aeromet, Army Fleet Support, Brashear, Cincinnati Electronics, Coleman Aerospace, Electron Devices, Henschel, Maritime Systems, Mustang Technology, Narda Satellite Networks and Targa Systems.