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HATTERAS FINANCIAL CORP FILES (8-K) Disclosing Change in Directors or Principal Officers

May 20, 2014

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain


On May 14, 2014, upon the recommendation of the compensation and governance committee, Vicki W. McElreath was appointed to the board of directors of Hatteras Financial Corp. (the "Company"), effective June 1, 2014, subject to re-election at the next annual meeting of the shareholders to be held in 2015. Ms. McElreath will also serve on the Company's audit committee as an independent director.

Ms. McElreath served as a managing partner of PricewaterhouseCoopers LLP ("PwC") from 1999 until her retirement in June 2006. She joined Price Waterhouse, one of the predecessor firms of PwC, in 1979 and was admitted to the partnership in 1990. Ms. McElreath has served as a director of Piedmont Natural Gas Company, Inc. (NYSE:PNY) since 2006 and as chair of its audit committee since 2008. She also has served as a director of RBC Bank (USA), a subsidiary of The Royal Bank of Canada, since 2012, and serves as chair of its audit and risk committees. In addition, she previously served as a director of RBC Bank, Inc., where she chaired its audit committee and served on its trust and compliance committees. Ms. McElreath is a Certified Public Accountant (inactive) and holds a bachelor's degree in business administration from Georgia State University with a major in accounting.

Effective on June 1, 2014, Ms. McElreath will receive an initial grant of shares of restricted stock and will become eligible to receive the standard compensation provided by the Company to its other non-employee directors for services as a director. Additionally, in connection with Ms. McElreath's appointment to the board of directors, the Company and Ms. McElreath will enter into an indemnification agreement in substantially the same form as the Company has entered into with each of the Company's existing directors. Ms. McElreath is not a party to any arrangement or understanding with any person pursuant to which she was appointed as a director nor is she a party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries.


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Source: Edgar Glimpses

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