Crown Castle said its board appointed Steven J. Moskowitz as President and CEO and as a director on April 9, 2024, effective April 11, 2024. The board size will increase from 12 to 13 members.

1. 01

   Crown Castle said its board appointed Steven J. Moskowitz as President and CEO and as a director on April 9, 2024, effective April 11, 2024. The board size will increase from 12 to 13 members.

2. 02

   The company said Anthony J. Melone will step down as Interim CEO on April 11, 2024 and serve as Special Advisor through May 31, 2024, while remaining a director. He will continue to receive his existing base salary during the advisory period.

3. 03

   Crown Castle said Mr. Moskowitz's 2024 base salary is $900,000 and his 2024 annual RSUs are worth about $12,300,000, with sign-on RSUs of about $2,400,000. It said 40% of the annual RSUs are time-based and 60% are performance-based, with the performance RSUs vesting on February 19, 2027.

4. 04

   The company said that under Mr. Moskowitz's severance agreement, if the company terminates his employment without cause or he resigns for good reason, in each case not in connection with a change in control transaction, he will receive a severance payment equal to 2 times the sum of his base salary and annual bonus. The agreement also contains a non-compete provision covering 1 year(s) after his employment ends.

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.

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.