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Aon logoAon AON

Aon said Edmund Reese will join the company as Executive Vice President, Finance on June 4, 2024, effective July 1, 2024, and will be appointed Chief Financial Officer effective July 29, 2024.

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

Key points

AI summary
  1. Aon said Edmund Reese will join the company as Executive Vice President, Finance on June 4, 2024, effective July 1, 2024, and will be appointed Chief Financial Officer effective July 29, 2024.

  2. Aon said Edmund Reese succeeds Christa Davies, who will remain Chief Financial Officer until July 29, 2024 and then stay with the company as a senior advisor for a transition period. Davies announced her retirement in April 2024, and she will certify results for Q2 2024.

  3. The company said Reese's initial annual base salary is $1,000,000, his target annual incentive is 200% of base salary, and his minimum annual incentive award for 2024 is $2,000,000. His long-term incentive compensation award for 2025 is $5,000,000.

  4. The company said Reese will receive a $3,500,000 restricted share unit award, $1,000,000 and $500,000 performance share unit awards, and a $1,000,000 sign-on bonus. The sign-on bonus will be forfeited if he is terminated for cause or resigns voluntarily before the 1 anniversary of his start date.

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.

Edmund Reese Named Chief Financial Officer

Aon said Edmund Reese will join the company as Executive Vice President, Finance on June 4, 2024, effective July 1, 2024, and will be appointed Chief Financial Officer effective July 29, 2024.

Source · Based on the filing body and exhibits

Christa Davies Succession and Transition Period

Aon said Edmund Reese succeeds Christa Davies, who will remain Chief Financial Officer until July 29, 2024 and then stay with the company as a senior advisor for a transition period. Davies announced her retirement in April 2024, and she will certify results for Q2 2024.

Source · Based on the filing body and exhibits

Reese Compensation Terms

The company said Reese's initial annual base salary is $1,000,000, his target annual incentive is 200% of base salary, and his minimum annual incentive award for 2024 is $2,000,000. His long-term incentive compensation award for 2025 is $5,000,000.

Source · Based on the filing body and exhibits

Sign-On and Joining Compensation Terms

The company said Reese will receive a $3,500,000 restricted share unit award, $1,000,000 and $500,000 performance share unit awards, and a $1,000,000 sign-on bonus. The sign-on bonus will be forfeited if he is terminated for cause or resigns voluntarily before the 1 anniversary of his start date.

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.