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American International Group logoAmerican International Group AIG

The company said the Board appointed Courtney Leimkuhler as a director, effective immediately, on November 5, 2024. The Board increased its size from 10 to 11 directors as a result, and she has not been appointed to a committee.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said the Board appointed Courtney Leimkuhler as a director, effective immediately, on November 5, 2024. The Board increased its size from 10 to 11 directors as a result, and she has not been appointed to a committee.

  2. AIG said the Board determined that Leimkuhler is an independent director under New York Stock Exchange listing standards. The company said she will participate in the independent director compensation program described in its proxy statement filed on April 2, 2024.

  3. AIG said a subsidiary made a $3 million capital commitment to Spring B Fund I LP in 2022, of which about $1.2 million has been called to date. The company said Leimkuhler holds a controlling interest in the fund's management company and general partner. It pays an annual management fee of 2.5% of its capital commitment, and the fund pays the general partner carried interest of 20%.

  4. The company said in its press release that Leimkuhler is a co-founder and Managing Partner of the venture fund Springbank and has worked at Goldman Sachs, NYSE Euronext and Marsh. It said she served as Head of Corporate Strategy and M&A at NYSE Euronext and as Chief Financial Officer of Marsh.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Board Appointment and Board Size Increase

The company said the Board appointed Courtney Leimkuhler as a director, effective immediately, on November 5, 2024. The Board increased its size from 10 to 11 directors as a result, and she has not been appointed to a committee.

Source · Based on the filing body and exhibits

Independence Determination and Director Compensation

AIG said the Board determined that Leimkuhler is an independent director under New York Stock Exchange listing standards. The company said she will participate in the independent director compensation program described in its proxy statement filed on April 2, 2024.

Source · Based on the filing body and exhibits

Related Transactions with Spring B Fund I LP

AIG said a subsidiary made a $3 million capital commitment to Spring B Fund I LP in 2022, of which about $1.2 million has been called to date. The company said Leimkuhler holds a controlling interest in the fund's management company and general partner. It pays an annual management fee of 2.5% of its capital commitment, and the fund pays the general partner carried interest of 20%.

Source · Based on the filing body and exhibits

Company Explanation of Appointment and Background

The company said in its press release that Leimkuhler is a co-founder and Managing Partner of the venture fund Springbank and has worked at Goldman Sachs, NYSE Euronext and Marsh. It said she served as Head of Corporate Strategy and M&A at NYSE Euronext and as Chief Financial Officer of Marsh.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.