FORM 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) June 12, 2013

 

 

VISTEON CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-15827   38-3519512

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

One Village Center Drive, Van Buren Township, Michigan   48111
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code (800)-VISTEON

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT

 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 12, 2013, the Organization and Compensation Committee of the Board of Directors of Visteon Corporation (the “Company”) approved merit-based increases in the annual base salaries for certain officers of the Company effective July 1, 2013, including the following named executive officers:

 

Name and Position

   Current Annual
Base Salary Rate
     Revised Annual
Base Salary Rate
 

Timothy D. Leuliette
President and Chief Executive Officer

   $ 1,150,000       $ 1,184,500   

Jeffrey M. Stafeil
Executive Vice President
and Chief Financial Officer

   $ 650,000       $ 669,500   

Robert C. Pallash
Senior Vice President and President,
Global Customer Group

   £ 276,900       £ 285,207   

 

Item 5.07. Submission of Matters to a Vote of Security Holders.

(a) The annual meeting of stockholders of the Company was held on June 13, 2013.

(b) At the annual meeting, the stockholders elected the Company’s eight nominees for director to serve for a one-year term beginning at the 2013 annual meeting and expiring at the 2014 annual meeting of stockholders. The stockholders also ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal year 2013, approved the Company’s executive compensation and approved an amendment to the Visteon Corporation Non-Employee Director Stock Unit Plan. The final voting results are set forth below.

(1) Election of directors (majority voting):

 

Nominee

   Shares For      Shares Against      Shares Abstain      Broker Non-Votes  

Duncan H. Cocroft

     39,437,937         1,746,162         3,454         2,752,463   

Jeffrey D. Jones

     39,779,844         1,404,167         3,542         2,752,463   

Timothy D. Leuliette

     41,129,296         55,075         3,182         2,752,463   

Robert J. Manzo

     41,071,139         112,926         3,488         2,752,463   

Francis M. Scricco

     41,147,792         36,130         3,631         2,752,463   

David L. Treadwell

     40,191,574         992,580         3,399         2,752,463   

Harry J. Wilson

     40,820,374         363,683         3,496         2,752,463   

Yuen Kam Ho, George

     41,124,699         59,604         3,250         2,752,463   

(2) Ratification of the appointment of Ernst & Young LLP:

 

Shares For

 

Shares Against

 

Shares Abstain

 

Broker Non-Votes

43,558,985   380,444   587   N/A

(3) Provide advisory approval of the Company’s executive compensation:

 

Shares For

 

Shares Against

 

Shares Abstain

 

Broker Non-Votes

29,832,290   11,349,547   5,716   2,752,463

(4) Approve an amendment to the Visteon Corporation Non-Employee Director Stock Unit Plan:

 

Shares For

 

Shares Against

 

Shares Abstain

 

Broker Non-Votes

40,147,903   1,036,632   3,018   2,752,463

 

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SECTION 8 – OTHER EVENTS

 

Item 8.01. Other Events.

On June 13, 2013, the Board of Directors of the Company re-appointed Mr. David Treadwell as the non-executive Chairman of the Board and made the following committee assignments.

Audit Committee: Duncan H. Cocroft (Chair), Robert J. Manzo and David L. Treadwell.

Organization and Compensation Committee: David L. Treadwell (Chair), Duncan H. Cocroft and Yuen Kam Ho, George.

Corporate Governance and Nominating Committee: Robert J. Manzo (Chair), Jeffrey D. Jones and Harry J. Wilson.

Finance and Corporate Strategy Committee: Harry J. Wilson (Chair), Jeffrey D. Jones and Yuen Kam Ho, George.

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

     

VISTEON CORPORATION

Date: June 17, 2013     By:  

/s/ Michael K. Sharnas

     

     Michael K. Sharnas

     

     Senior Vice President and General Counsel

 

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