UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 12, 2021 (
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Emerging growth company
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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.
On November 11, 2021, Sculptor Capital Management, Inc. (the “Company”) announced that its Board appointed Charmel Maynard to the Board, effective immediately, to serve as a Class II director for a term that coincides with the remainder of the three-year term of the existing Class II directors.
Mr. Maynard is Associate Vice President, Chief Investment Officer, and Treasurer for the University of Miami, where he leads the University’s efforts to invest assets, including endowment and pension funds, and is responsible for the University’s capital structure, treasury and cash management.
Prior to joining the University of Miami in 2016, Mr. Maynard was a Vice President in JP Morgan’s investment banking division, where he advised clients on capital structure solutions, deal structuring, and execution of syndicated revolving credit facilities, institutional term loans, and bond issuances.
Mr. Maynard currently serves on the Board of Directors and as Chair of the Budget Committee of the Mead Art Museum. Mr. Maynard is on the Board of Directors of Catalyst Miami and serves as a member of the Finance Committee. Mr. Maynard is also on the Board of Directors for Landed, Advisory Committee Board of the John S. and James L. Knight Foundation and Board of Directors of Black Angels Miami. Mr. Maynard holds a B.A. in Political Science from Amherst College.
Mr. Maynard’s extensive investment and asset management experience, and his deep understanding of the industry and financial markets, will bring relevant expertise to the Company’s Board.
The Board has determined that Mr. Maynard is an independent director for purposes of the NYSE listed company standards and the independence standards set forth in the Company’s Corporate Governance Guidelines. The Board appointed Mr. Maynard to serve on the Audit Committee, the Corporate Responsibility and Compliance Committee and the Nominating, Corporate Governance and Conflicts Committee.
As an independent director, Mr. Maynard will receive a $95,000 annual cash retainer for service on the Board and will be reimbursed for reasonable costs and expenses in attending meetings of the Board and committees thereof. For fiscal year 2021, the Board has approved a cash retainer of $23,750 to Mr. Maynard.
As an independent director, at the beginning of each year, Mr. Maynard will receive a grant of Class A Restricted Share Units (“RSUs”) with a value of $125,000. For fiscal year 2021, the Board has approved a grant of 1,194 Class A Restricted Share Units (“RSUs”) to Mr. Maynard. The RSUs will vest on January 1, 2022.
On November 6, 2021, Meghna Desai notified the Company of her decision to resign from the Board effective November 6, 2021 due to other professional obligations. The Company and the Board thank Ms. Desai for her excellent service.
SIGNATURES
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.
| SCULPTOR CAPITAL MANAGEMENT, INC. | ||
| (Registrant) | ||
| By: | /s/ Dava Ritchea | |
| Dava Ritchea | ||
| Chief Financial Officer and Executive Managing Director | ||
Date: November 12, 2021
Document and Entity Information |
Nov. 06, 2021 |
|---|---|
| Cover [Abstract] | |
| Amendment Flag | false |
| Entity Central Index Key | 0001403256 |
| Document Type | 8-K |
| Document Period End Date | Nov. 06, 2021 |
| Entity Registrant Name | SCULPTOR CAPITAL MANAGEMENT, INC. |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 001-33805 |
| Entity Tax Identification Number | 26-0354783 |
| Entity Address, Address Line One | 9 West 57th Street |
| Entity Address, City or Town | New York |
| Entity Address, State or Province | NY |
| Entity Address, Postal Zip Code | 10019 |
| City Area Code | 212 |
| Local Phone Number | 790-0000 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Class A Shares |
| Trading Symbol | SCU |
| Security Exchange Name | NYSE |
| Entity Emerging Growth Company | false |