METLIFE, INC. (NYSE:MET) 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 December 3, 2018, the MetLife, Inc. (the “Company”) Board of Directors appointed Tamara L. Schock as Executive Vice President and Chief Accounting Officer. Ms. Schock’s appointment will be effective when her employment with a Company affiliate begins, which MetLife expects will be March4, 2019. A copy of MetLife’s news release announcing Ms. Schock’s appointment is included in this report as Exhibit 99.1.
Ms. Schock, age 47, has served as Chief Financial Officer of Exchange Income Corporation, a multi-national publicly listed Canadian company with businesses in the aviation, aerospace and manufacturing industries, since 2015. Ms. Schock previously served as a Partner-Assurance & Advisory Services with Deloitte, Canada and Deloitte, United States of America, which provide audit and assurance, consulting, risk and financial advisory, risk management, tax, and related services, from 2006 to 2015.
Ms. Schock will receive base salary from MetLife at an annual rate of $450,000. She will receive Restricted Stock Units (“RSUs”) with an initial value of $310,000 and total cash sign-on payments of $320,000, each subject to verification of forfeited compensation from her current employer. Ms. Schock will forfeit the RSUs if she voluntarily ends her employment or is terminated for “Cause” (as defined in the MetLife 2015 Stock and Incentive Compensation Plan) within three years, and must repay the cash sign-on payments if she voluntarily ends her employment or is terminated for Cause within two years of each payment. Ms. Schock will also receive relocation benefits, including limited assistance with immigration, transportation, shipment of personal property, interim housing, an interim period per diem, tax return preparation, home sale support, broker assistance, new home closing costs, a relocation allowance for miscellaneous expenses, and make-whole for taxes on certain relocation items. All of Ms. Schock’s relocation benefits are subject to repayment if she voluntarily ends her employment or is terminated for cause during the first two years of her permanent relocation to the United States.
William O’Donnell will remain Company Executive Vice President and Chief Accounting Officer until Ms. Schock’s appointment is effective, at which time he will become MetLife’s Executive Vice President and Chief Financial Officer for the U.S.
Financial Statements and Exhibits
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METLIFE INC ExhibitEX-99.1 2 d658181dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Contact: For Media: Ashia Razzaq (212) 578-1538 For Investors: John Hall (212) 578-7888 TAMARA L. SCHOCK TO JOIN METLIFE AS CHIEF ACCOUNTING OFFICER NEW YORK,…To view the full exhibit click
About METLIFE, INC. (NYSE:MET)
MetLife, Inc. (MetLife) is a provider of life insurance, annuities, employee benefits and asset management. The Company’s segments include Retail; Group, Voluntary & Worksite Benefits; Corporate Benefit Funding; Latin America (collectively, the Americas); Asia, and Europe, the Middle East and Africa (EMEA). Its Retail segment is organized into two businesses: Life & Other, and Annuities. Its Group, Voluntary & Worksite Benefits insurance products and services include life, dental, group short- and long-term disability, property and casualty, long-term care, accidental death and dismemberment, critical illness, vision, and accident and health coverages, as well as prepaid legal plans. Its Corporate Benefit Funding segment provides funding and financing solutions that help institutional customers manage liabilities primarily associated with their qualified, nonqualified and welfare employee benefit programs using a spectrum of life and annuity-based insurance and investment products.