Hertz Names Joseph Hinrichs To Board, Puts Him On Audit And Risk Committee
The board seated Hinrichs as a Class I director on Friday, with $275,000 in annual pay listed in the filing.
Hertz's board appointed Joseph R. Hinrichs as a Class I director on Friday, effective immediately, according to an 8-K filed Tuesday. He will serve on the Audit and Risk Committee.
What the 8-K says
The filing, signed Tuesday by Piero Bussani, Hertz's executive vice president, chief legal officer and corporate secretary, reports the appointment under Item 5.02, the section covering director and officer changes. The board acted on October 9, 2026, and the company filed the report on October 13, 2026.
Hinrichs joins as a non-employee director, so he gets the standard package under the company's Amended and Restated Directors' Compensation Policy, dated January 31, 2024. That means an annual grant of restricted stock units valued at $175,000, plus an annual cash retainer of $100,000. Together the two come to $275,000 a year, and both depend on his continued service as a director.
He has also signed an indemnification agreement with the company. It uses the form filed as Exhibit 10.10 to the annual report on Form 10-K filed on February 23, 2022.
What it changes
The board gains a member, and the Audit and Risk Committee gains a seat holder. The filing does not change the share count or the company's financing. The restricted stock units are part of ordinary director pay.
The filing says no arrangement or understanding between Hinrichs and any other person led to his election. It also says he has not entered into, or proposed, any transaction that must be reported under Item 404(a) of Regulation S-K, the rule on dealings between a company and its directors.
In Tuesday trading, Hertz shares closed at $1.92. They traded at $1.93 in Tuesday after-hours trading, up about 0.5%, as the filing became public.
The pay terms and the committee seat are the filing's own specifics: $175,000 in restricted stock units, a $100,000 retainer and a place on Audit and Risk.
Sources
- 8-K Filing — HERTZ GLOBAL HOLDINGS, INC (HTZ) — SEC EDGAR
