Owens & Minor Appoints New CFO, Andrew Wilson
Ticker: ACH · Form: 8-K · Filed: Apr 22, 2024 · CIK: 75252
| Field | Detail |
|---|---|
| Company | Owens & Minor INC/Va/ (ACH) |
| Form Type | 8-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $2 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: OMI
TL;DR
New CFO Andrew Wilson joins OMI with $500K salary + $1M stock grant.
AI Summary
Owens & Minor, Inc. announced on April 16, 2024, the appointment of Andrew R. Wilson as the new Executive Vice President and Chief Financial Officer, effective April 22, 2024. Wilson will receive an annual base salary of $500,000 and will be eligible for an annual cash incentive target of 75% of his base salary. He will also receive a one-time grant of restricted stock units valued at $1,000,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $500,000 — Annual Base Salary (For new CFO Andrew R. Wilson)
- 75% — Annual Cash Incentive Target (For new CFO Andrew R. Wilson)
- $1,000,000 — Restricted Stock Unit Grant Value (One-time grant for new CFO Andrew R. Wilson)
Key Players & Entities
- Owens & Minor, Inc. (company) — Registrant
- Andrew R. Wilson (person) — Newly appointed Executive Vice President and Chief Financial Officer
- $500,000 (dollar_amount) — Annual base salary for Andrew R. Wilson
- 75% (dollar_amount) — Annual cash incentive target for Andrew R. Wilson
- $1,000,000 (dollar_amount) — Value of one-time restricted stock unit grant for Andrew R. Wilson
- April 16, 2024 (date) — Date of the announcement
- April 22, 2024 (date) — Effective date of Andrew R. Wilson's appointment
FAQ
Who has been appointed as the new Executive Vice President and Chief Financial Officer of Owens & Minor, Inc.?
Andrew R. Wilson has been appointed as the new Executive Vice President and Chief Financial Officer.
When is Andrew R. Wilson's appointment as CFO effective?
Andrew R. Wilson's appointment is effective April 22, 2024.
What is Andrew R. Wilson's annual base salary?
Andrew R. Wilson's annual base salary is $500,000.
What is the target percentage for Andrew R. Wilson's annual cash incentive?
The annual cash incentive target for Andrew R. Wilson is 75% of his base salary.
What is the value of the one-time restricted stock unit grant awarded to Andrew R. Wilson?
The one-time grant of restricted stock units awarded to Andrew R. Wilson is valued at $1,000,000.
Filing Stats: 428 words · 2 min read · ~1 pages · Grade level 11.3 · Accepted 2024-04-22 08:01:03
Key Financial Figures
- $2 — ange on which registered Common Stock, $2 par value per share OMI New York St
Filing Documents
- d830519d8k.htm (8-K) — 22KB
- 0001193125-24-103827.txt ( ) — 137KB
- omi-20240416.xsd (EX-101.SCH) — 3KB
- omi-20240416_lab.xml (EX-101.LAB) — 17KB
- omi-20240416_pre.xml (EX-101.PRE) — 11KB
- d830519d8k_htm.xml (XML) — 3KB
From the Filing
8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): April 16, 2024 OWENS & MINOR, INC. (Exact name of Registrant as specified in charter) Virginia 001-09810 54-1701843 (State or other jurisdiction of incorporation) (Commission file number) (I.R.S. employer identification no.) 9120 Lockwood Blvd ., Mechanicsville , Virginia 23116 (Address of principal executive offices) (Zip code) Post Office Box 27626, Richmond, Virginia 23261-7626 (Mailing address of principal executive offices) (Zip code) Registrant's telephone number, including area code (804) 723-7000 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $2 par value per share OMI New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On April 16, 2024, Dan J. Starck, Executive Vice President, Business Excellence of Owens & Minor, Inc. (the "Company"), informed the Company that he was retiring from his position at the Company, effective May 17, 2024. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 22, 2024 OWENS & MINOR, INC. By: /s/ Heath H. Galloway Name: Heath H. Galloway Title: EVP, General Counsel & Corporate Secretary