ASSURANT, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Financial Statements and Exhibits
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 13, 2023, the Board of Directors (the "Board") of Assurant, Inc. (the
"Company") increased the number of directors constituting the Board from
thirteen to fourteen and appointed Rajiv Basu to the Board and to the Audit
Committee of the Board, effective immediately. These appointments are subject to
customary regulatory approval.
Mr. Basu held various global audit and advisory leadership roles at Deloitte &
Touche LLP ("Deloitte") in the firm's financial services practice, specializing
in insurance, from 1987 until his retirement as chief audit quality leader for Southeast Asia in May 2021, having previously served as audit and advisory
partner from 2004 to 2020. While with Deloitte, Mr. Basu worked in New York, London, Singapore and Mumbai, and led the firm's diversity initiative in the
northeast from 2005 to 2014.
There are no arrangements or understandings between Mr. Basu and any other
person, naming such person, pursuant to which Mr. Basu was selected as a
director, and no related party transactions involving Mr. Basu are reportable
under Item 404(a) of Regulation S-K.
As compensation for his service as a director, Mr. Basu will receive an annual
cash retainer in accordance with the terms and conditions of the Assurant, Inc.
Amended and Restated Directors Compensation Plan (the "Directors Compensation
Plan") . Consistent with the terms of the Directors Compensation Plan, Mr. Basu
will also receive an annual equity grant, pursuant to the Assurant, Inc. 2017
Long Term Equity Incentive Plan, as amended and restated, of restricted stock
units with a grant date fair market value of $160,000. The terms and conditions
of this grant will be governed by an agreement substantially in the form of the Assurant, Inc. Restricted Stock Unit Award Agreement for Time-Based Awards for
Non-Employee Directors, a copy of which is filed as Exhibit 10.1 hereto.
In connection with Mr. Basu's appointment, the Company issued a news release on March 13, 2023, a copy of which is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Exhibit
10.1 Form of Assurant, Inc. Restricted Stock Unit Award Agreement for Time-Based
Awards for Non-Employee Directors, effective as of January 18, 2023.
Press release announcing the appointment of a new director to the Board,
99.1 dated March 13, 2023.
The cover page from this Current Report on Form 8-K, formatted in Inline