Summary by Moomoo AI
Cisco Systems has appointed Ekta Singh-Bushell, former Deputy to the First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, to its Board of Directors effective June 14, 2024. The Board has determined Singh-Bushell meets independence standards and assigned her to both the Audit Committee and Environmental, Social, and Public Policy Committee.As a non-employee director, Singh-Bushell will receive pro-rated compensation including a $105,000 annual cash retainer and committee member fees. She has also been granted an initial equity award with a pro-rata portion of $245,000 grant date fair value under Cisco's 2005 Stock Incentive Plan. Directors may elect to receive compensation in cash, stock, or deferred units.The appointment includes participation in Cisco's charitable matching gifts program with a $25,000 maximum match for 2024, and Singh-Bushell has entered into Cisco's standard form of Indemnity Agreement providing maximum legal indemnification protection.
