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The company said its board of directors appointed Raj Seshadri as a director on October 22, 2026, effective November 30, 2026. The company said the board determined that she is independent under securities exchange rules and the rules of the Exchange Act.

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

Key points

AI summary
  1. The company said its board of directors appointed Raj Seshadri as a director on October 22, 2026, effective November 30, 2026. The company said the board determined that she is independent under securities exchange rules and the rules of the Exchange Act.

  2. The company said Seshadri, 61, has served as Senior Strategic Advisor to the CEO of Mastercard Incorporated since August 2026. The company said she served as Chief Commercial Payments Officer of Mastercard from 2024 to 2026 and has served on the board of directors of Raymond James Financial, Inc. since 2019.

  3. The company said Seshadri will participate in its standard non-employee director compensation arrangements and is eligible to participate in the Non-Employee Director Deferred Compensation Plan. The company said it will enter into a Non-Employee Director Indemnity Agreement with her in connection with her appointment, and that there are no other arrangements or understandings under which she was selected as a director.

  4. The company said Henrique De Castro, a board member, informed it of his decision not to stand for re-election at the company’s 2027 annual shareholder meeting, which he informed it of on October 22, 2026. The company said he will continue to serve as a director until the annual meeting and that the decision does not result from any disagreement with management on the company’s operations, policies or practices.

Summary

AI-written

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

Raj Seshadri Appointed to Board

The company said its board of directors appointed Raj Seshadri as a director on October 22, 2026, effective November 30, 2026. The company said the board determined that she is independent under securities exchange rules and the rules of the Exchange Act.

Source · Based on the filing body and exhibits

Seshadri Professional Background

The company said Seshadri, 61, has served as Senior Strategic Advisor to the CEO of Mastercard Incorporated since August 2026. The company said she served as Chief Commercial Payments Officer of Mastercard from 2024 to 2026 and has served on the board of directors of Raymond James Financial, Inc. since 2019.

Source · Based on the filing body and exhibits

Compensation and Arrangements for New Director

The company said Seshadri will participate in its standard non-employee director compensation arrangements and is eligible to participate in the Non-Employee Director Deferred Compensation Plan. The company said it will enter into a Non-Employee Director Indemnity Agreement with her in connection with her appointment, and that there are no other arrangements or understandings under which she was selected as a director.

Source · Based on the filing body and exhibits

Henrique De Castro to Leave Board

The company said Henrique De Castro, a board member, informed it of his decision not to stand for re-election at the company’s 2027 annual shareholder meeting, which he informed it of on October 22, 2026. The company said he will continue to serve as a director until the annual meeting and that the decision does not result from any disagreement with management on the company’s operations, policies or practices.

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.