Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b) On
(the "Board") ofDaily Journal Corporation (the "Company"). He remains the Company's Chief Executive Officer, President, Chief Financial Officer and Treasurer. Also onDecember 29, 2021 ,Peter D. Kaufman informed the Company that he will not stand for re-election at the Company's 2022 Annual Meeting of Shareholders.
(d) On
the vacancy created withMr. Salzman's resignation.Ms. Rodriguez is the Vice President and Chief Operating Officer ofJournal Technologies, Inc. , a subsidiary of the Company. She was paid a salary, bonus and incentive compensation amount totaling$465,000 in fiscal 2021. She also received an incentive compensation grant of units entitling her to receive .83% of the Company's earnings for the current and the next nine years under the Management Incentive Plan in fiscal 2021, bringing her aggregate grant to 2.21% of the Company's income before taxes and certain other items on a consolidated basis.Ms. Rodriguez will not receive any additional compensation for serving on the Board, and she is not expected to join any Board committees. For more information on the slate of director candidates for the 2022 Annual Meeting of Shareholders and the Company's efforts to comply withCalifornia law regarding the demographic composition of the Board, please see the "Election of Directors" and "Corporate Governance" sections on pages 3 through 6 of the Company' definitive proxy statement on Schedule 14A for the 2022 Annual Meeting of Shareholders, filed with theSecurities and Exchange Commission onDecember 29, 2021 . [SIGNATUREPAGE FOLLOWS ]
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