SECURITIES AND EXCHANGE COMMISSION
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|Item 5.02|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(d) On May 12, 2022, the Board of Directors of Cabot, based on a recommendation of the Board’s Governance and Nominating Committee, elected Raffiq Nathoo a director of Cabot and appointed Mr. Nathoo to the Board’s Audit Committee, each effective immediately. Mr. Nathoo will serve as a director in the class whose term expires at the Annual Meeting in 2023.
There is no arrangement or understanding between Mr. Nathoo and any other person pursuant to which he was selected to become a member of the Board, nor are there any transactions between Mr. Nathoo and Cabot or any subsidiary of Cabot that are reportable under Item 404(a) of Regulation S-K.
Mr. Nathoo will receive compensation for his service as a non-employee director as described under the heading “Director Compensation” in Cabot’s Proxy Statement for the 2022 Annual Meeting of Stockholders, which description is incorporated herein by reference. As part of such compensation, on May 12, 2022, Mr. Nathoo received shares of Cabot common stock, par value $1.00 per share, having a value as close as possible to $84,375 on such date, which amount was calculated by prorating Cabot’s annual stock grant for non-employee directors of $135,000.
A copy of the press release announcing Mr. Nathoo’s election is attached as Exhibit 99.1 to this Current Report on Form 8-K.
|Item 9.01|| |
Financial Statements and Exhibits.
|99.1||Press Release issued by Cabot Corporation on May 12, 2022|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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.
|Name:||Sean D. Keohane|
|Title:||President and Chief Executive Officer|
Date: May 12, 2022
|Investor Contact:||Steve Delahunt|
CABOT CORPORATION ANNOUNCES ELECTION OF RAFFIQ NATHOO TO BOARD OF DIRECTORS
Boston - May 12, 2022 - Cabot Corporation (NYSE: CBT) announced today that Raffiq Nathoo has been elected to its Board of Directors, effective May 12, 2022. He was also appointed a member of the Audit Committee of the Board of Directors, effective May 12, 2022. Since August 2019, Mr. Nathoo has served as a Managing Partner of TX3 Sage Rock, a private investment management firm. Mr. Nathoo has 30 years of experience which spans the investment banking, private equity, and public equity businesses, including over 22 years at Blackstone where he was a Senior Managing Director for 14 years and led the firms advisory practice globally in the energy, power and utilities sectors, with New Mountain Capital where he served as an Executive-in-Residence, and with Salomon Brothers Inc. where he started his career. Mr. Nathoo received his Bachelor of Arts degree in Government from Dartmouth College, and a Master of Business Administration degree from Harvard University.
Sue H. Rataj, Non-Executive Chair of Cabots Board of Directors, said, We are very pleased to welcome
Raffiq to our Board. His significant leadership experience, international financial and capital markets expertise, both as an investor and as an M&A advisor, and his broad strategic perspective will further enhance the Boards depth and capabilities that are necessary to oversee the Companys Creating for Tomorrow strategy.
I am delighted and honored to join the Cabot Board of Directors. Cabot is a company with exceptional products and technologies and has many exciting opportunities for growth in the years ahead. I look forward to drawing on my experience to help Cabot achieve its growth objectives and further advance the Companys strategy, said Mr. Nathoo.
About Cabot Corporation
Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of carbon black, specialty carbons, engineered elastomer composites, inkjet colorants, masterbatches and conductive compounds, fumed silica and aerogel. For more information on Cabot, please visit the companys website at cabotcorp.com. The Company encourages investors and potential investors to consult the Cabot website regularly.