Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
(d) On November 25, 2020, the Board of Directors of Principal Financial
Group, Inc. (the "Company") elected Alfredo Rivera as a new director of the
Company and of Principal Life Insurance Company, effective November 25, 2020.
There is no arrangement or understanding between Mr. Rivera and any other person
pursuant to which Mr. Rivera was selected as a director. Mr. Rivera has no
material interest in any prior, existing or proposed transaction or series of
transactions with the Company or its management.
Mr. Rivera will serve as a member of the Audit and Human Resources committees of
the Board of Directors. Mr. Rivera's compensation as a non-employee director
will be consistent with that provided to all Company non-employee directors, as
described in the Company's most recent proxy statement filed with the Securities
and Exchange Commission on April 6, 2020. Pursuant to the established
compensation program for non-employee directors, Mr. Rivera will receive a
pro-rated grant of Company restricted stock units which will be determined based
upon the closing price of Company stock on November 25, 2020, the last trading
date prior to the effective date of the grant.
A press release announcing Mr. Rivera's election is included herewith as
Item 9.01 Financial Statements and Exhibits
99 Press Release Concerning Election of Alfredo Rivera, dated November 25,
104 Cover Page Interactive Data File. The cover page XBRL tags are embedded
within the inline XBRL document (contained in Exhibit 101).
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