AI English summary of an SEC filing — figures as filed
Waste Management WMThe company said on March March 1, 2024 its board increased its size to 10 members and elected Thomas L. Bené as an additional director, with a term expiring at the 2024 annual meeting of stockholders. The board determined he is an independent director.
Key points
AI summaryThe company said on March March 1, 2024 its board increased its size to 10 members and elected Thomas L. Bené as an additional director, with a term expiring at the 2024 annual meeting of stockholders. The board determined he is an independent director.
Waste Management said Bené, 61, is President and Chief Executive Officer of Breakthru Beverage Group, LLC, and previously served as President, Chief Executive Officer and Chairman of the Board of Sysco Corporation. He was also appointed to the Management Development & Compensation Committee.
The company said Bené will receive pro-rated compensation for four and a half months of the 6-month director compensation period ending July 15, 2024. The compensation consists of a stock award with a fair market value of $67,770 and a cash payment of $45,180.
Waste Management said director John C. Pope has reached the retirement age set forth in its Corporate Governance Guidelines and will not stand for re-election, so his term will expire at the 2024 annual meeting. It said the board plans to reduce its size to 9 members effective upon the expiration of Pope's term.
Summary
AI-writtenAnalysis 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.
WM Board Elects Thomas L. Bené as Additional Director
The company said on March March 1, 2024 its board increased its size to 10 members and elected Thomas L. Bené as an additional director, with a term expiring at the 2024 annual meeting of stockholders. The board determined he is an independent director.
Source · Based on the filing body and exhibits
Bené's Background and Management Development & Compensation Committee Appointment
Waste Management said Bené, 61, is President and Chief Executive Officer of Breakthru Beverage Group, LLC, and previously served as President, Chief Executive Officer and Chairman of the Board of Sysco Corporation. He was also appointed to the Management Development & Compensation Committee.
Source · Based on the filing body and exhibits
Standard Non-Employee Director Pay and Pro-Rated Compensation
The company said Bené will receive pro-rated compensation for four and a half months of the 6-month director compensation period ending July 15, 2024. The compensation consists of a stock award with a fair market value of $67,770 and a cash payment of $45,180.
Source · Based on the filing body and exhibits
John C. Pope to Leave Board; Board Plans to Reduce Size
Waste Management said director John C. Pope has reached the retirement age set forth in its Corporate Governance Guidelines and will not stand for re-election, so his term will expire at the 2024 annual meeting. It said the board plans to reduce its size to 9 members effective upon the expiration of Pope's term.
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.
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