Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On January 5, 2022, AXIS Capital Holdings Limited, a Bermuda company (the
"Company"), announced that Peter Wilson, Chief Executive Officer of AXIS
Insurance, will be leaving the Company effective December 31, 2022 timed to the
completion of his employment agreement. Mr. Wilson will serve in his current
role until May 31, 2022 and will serve in a transitional role from June 1 until
December 31, 2022. Vincent Tizzio will succeed Mr. Wilson as Chief Executive
Officer of AXIS Insurance effective June 1, 2022.
Under Mr. Wilson's employment agreement, a non-renewal of the agreement
constitutes a termination without cause. Accordingly, upon completion of his
contract and in connection with Mr. Wilson's execution of a general release of
claims and continued compliance with the restrictive covenants in his employment
agreement, Mr. Wilson will receive the payments and benefits required in
connection with the Company's non-renewal of the employment agreement, including
the continued vesting of his outstanding equity awards that remain unvested as
of his separation date.
Item 7.01 Regulation FD Disclosure
On January 5, 2022, the Company issued a press release announcing the leadership
transition within the Insurance segment as described in this Form 8-K. A copy of
the press release is furnished herewith as Exhibit 99.1.
The information set forth under this Item 7.01, including Exhibit 99.1, shall
not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as
amended, or incorporated by reference in any filing under the Securities Act of
1933, as amended, regardless of any general incorporation language in such
filing, unless expressly incorporated by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number Description of Document
99.1 Press release dated January 5, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
© Edgar Online, source Glimpses