Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. OnJanuary 10, 2020 , the Human Capital Committee (the "Committee") of the Board of Directors ofUnum Group appointedMichael Q. Simonds as Executive Vice President, Chief Operating Officer ofUnum Group (the "Company"), effectiveFebruary 1, 2020 . In the new role,Mr. Simonds , 46, who sinceJuly 2013 has served as an Executive Vice President of the Company and President and Chief Executive Officer of its Unum US business unit, will be responsible for optimizing business operations across the enterprise. Prior to heading the Company's Unum US operations,Mr. Simonds served as Senior Vice President and Chief Operating Officer,Unum US fromJune 2012 toJune 2013 . Before that, he served as Senior Vice President, Growth Operations,Unum US fromJuly 2010 toMay 2012 and as Senior Vice President and Chief Marketing Officer,Unum US fromMarch 2008 toJuly 2010 .Mr. Simonds originally joined aUnum Group predecessor company in 1994, left the Company in 2000 to pursue his MBA, and rejoined the Company in 2003 after working atMcKinsey & Company , a global management consulting firm. In connection with the appointment, the Committee also approved the terms of a new compensation package forMr. Simonds . EffectiveFebruary 1, 2020 , his base salary will increase to$700,000 and his annual and long-term incentive targets will be set at 130% and 250% of base salary, respectively, for annual targeted total compensation of$3,360,000 . For the 2020 performance year,Mr. Simonds' incentive compensation (payable in 2021) will be prorated based on the time he spends in each position during the year. As previously disclosed pursuant to Item 404(a) of Regulation S-K, the Company employsCharlene Glidden , who currently serves as Vice President, Customer Operations for Colonial Life and is a sister-in-law ofMr. Simonds . In 2019, she received compensation of approximately$450,121 and participated in compensation and benefit arrangements generally applicable to similarly situated employees. BeginningFebruary 1, 2020 , she will be included inMr. Simonds' organization and will have an indirect reporting relationship to him, but he will not be involved in decisions concerning her compensation. A copy of the news release issued by the Company to announceMr. Simonds' appointment is filed herewith as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description 99.1 News Release ofUnum Group datedJanuary 16, 2020 , announcing the appointment ofMichael Q. Simonds as Chief Operating Officer. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
--------------------------------------------------------------------------------
© Edgar Online, source