secwatch.observer — SEC 8-K summary
======================================

Issuer:     Discover Financial Services (—)
CIK:        0001393612
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0001193125-23-292548
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Discover Financial appoints Michael G. Rhodes as CEO, effective March 2024
--------------------------------------------------------------------------

- Rhodes, formerly TD Bank Group head, will become CEO and President on or before March 6, 2024.
- He succeeds interim CEO John Owen, who will continue until then and remain on the board.
- Compensation includes $1M base salary, 200% STI target, $7M LTI target, plus make-whole and transition awards totaling $9.35M.
- Rhodes brings over 25 years of consumer banking and payments experience.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/0001193125-23-292548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393612/000119312523292548/d626255d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-292548

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer