Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2023, CME Group Inc. ("CME Group" or the "Company") announced that
Sean Tully, Senior Managing Director Global Head Rates & OTC Products, will
retire from the Company as of June 2, 2023.
In connection with Mr. Tully's retirement, the Company and Mr. Tully entered
into a Retirement Agreement, effective as of March 29, 2023 (the "Retirement
Agreement").
Under the terms of the Retirement Agreement, Mr. Tully will retire from the
Company on June 2, 2023 (the "Retirement Date"). Under the Retirement Agreement,
Mr. Tully will receive his base salary through the Retirement Date and payment
of accrued and unused vacation. Additionally, upon the Retirement Date, all of
Mr. Tully's outstanding time-vesting restricted stock grants will become vested
and he will continue to be eligible to vest in 25% of each of his outstanding
unvested performance share awards based on actual Company performance. During
the twelve-month period following the Retirement Date, the Company will provide
paid healthcare coverage. The continued healthcare and the vesting of
Mr. Tully's equity awards, both time- and performance- vesting, are subject to
Mr. Tully's execution of a release of claims in favor of the Company.
The foregoing is a summary of the key terms of the Retirement Agreement, which
is attached to this report as Exhibit 10.1 and is incorporated herein by
reference as though it was fully set forth herein. The summary is qualified in
its entirety by the complete text of the agreement itself.
Item 9.01 Financial Statements and Exhibits.
Exhibit
Number Description
10.1 Retirement Agreement, effective as of March 29, 2023, between
Chicago Mercantile Exchange Inc. and Sean Tully.
99.1 Press Release dated March 30, 2023.
104 The cover page from CME Group Inc.'s Current Report on Form 8-K,
formatted in Inline XBRL.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses