Summary by Futu AI
Cisco Systems, Inc. announced the appointment of Ekta Singh-Bushell to its Board of Directors, effective June 14, 2024. Singh-Bushell, previously serving as Deputy to the First Vice President and Chief Operating Officer at the Federal Reserve Bank of New York, has been deemed independent according to The Nasdaq Stock Market LLC's listing standards. Alongside her board membership, she will join the Audit Committee and the Environmental, Social, and Public Policy Committee. Singh-Bushell will receive standard non-employee director compensation, including a pro rata portion of the annual cash retainer and committee fees, with the option to receive these in stock or deferred compensation forms. Additionally, she received a pro rata initial equity award valued at a portion of $245,000 upon her appointment. She is also eligible for Cisco's charitable matching gifts program and has entered into an indemnity agreement with the company.