Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 11, 2019, FGL Holdings (the “Company”) appointed Bonnie Wasgatt as Chief Operating Officer, effective May 20, 2019.
Bonnie Wasgatt, age 61, most recently served as a Senior Advisor at The Blackstone Group L.P. since January 2019, where she worked in insurance vertical growth opportunities. Prior to joining Blackstone, Ms. Wasgatt served as the Chief Information Officer at Jackson National Life Insurance Company from 2013 to 2018, where she was responsible for all aspects of systems development, production support, vendor management, project management and execution as well as firmwide organizational and transformational change, and also served as Executive IT Strategist from 2012 to 2013. Before joining Jackson National Life Insurance Company, she worked in a variety of roles for both insurance carriers and software firms, including as President of Insurance Solutions at DST Corporation from 2010 to 2012, as a Senior Vice President of Swiss Re – Global Admin Re from 2002 to 2010, as an Executive Vice President at Computer Sciences Corporation (now DXC Technology Company) and as a Project Director at Vantage Computer Systems. Ms. Wasgatt brings over 35 years of experience in the life insurance and annuity product manufacturing and software development arenas.
In connection with her appointment, Ms. Wasgatt will be eligible to receive a base salary of $335,000 and a target bonus opportunity equal to 50% of her base salary, subject to the achievement of criteria to be established by the Company. She will be eligible to participate in the Company’s employee benefit plans, subject to plan terms. On May 20, 2019, Ms. Wasgatt will also be granted a stock option award under the Company’s 2017 Omnibus Incentive Plan consisting of an award of 425,000 stock options, of whichone-third is subject to time based vesting,one-third is subject to time and performance based vesting andone-third is subject to time based vesting and achievement of stock price targets, and a stretch award of 75,000 stock options, 50% of which is subject to performance based vesting and 50% of which vests based on achievement of stock price targets.
There are no familial relationships between Ms. Wasgatt and any other executive officer or director of the Company. There are no transactions in which Ms. Wasgatt has an interest requiring disclosure under Item 404(a) of RegulationS-K.
