Apogee Enterprises Names New Directors, Adjusts Exec Pay
Ticker: APOG · Form: 8-K · Filed: Aug 8, 2024 · CIK: 6845
Sentiment: neutral
Topics: executive-compensation, board-changes, appointment
TL;DR
Apogee adds 2 directors, names new CFO Schrock with $425k salary + bonus. Board shakeup!
AI Summary
On August 8, 2024, Apogee Enterprises, Inc. announced changes to its board of directors and executive compensation. The company elected two new directors, David R. Johnson and Michael J. Schrock, and appointed new committee members. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Michael J. Schrock, effective August 8, 2024, which includes a base salary of $425,000 and potential for a performance-based bonus.
Why It Matters
The appointment of new directors and changes in executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive appointments can indicate internal shifts or strategic realignments that may carry inherent risks.
Key Numbers
- $425,000 — CFO Base Salary (New employment agreement for Michael J. Schrock)
Key Players & Entities
- Apogee Enterprises, Inc. (company) — Registrant
- David R. Johnson (person) — Newly elected director
- Michael J. Schrock (person) — Newly elected director and Chief Financial Officer
- $425,000 (dollar_amount) — CFO's base salary
- August 8, 2024 (date) — Effective date of changes
FAQ
Who were the new directors elected to Apogee Enterprises' board?
David R. Johnson and Michael J. Schrock were elected as new directors.
What is the base salary for the new CFO, Michael J. Schrock?
Michael J. Schrock's base salary is $425,000.
When did these changes become effective?
The changes, including the new employment agreement for the CFO, became effective on August 8, 2024.
What other executive compensation details are mentioned for the CFO?
The filing mentions that Michael J. Schrock is eligible for a performance-based bonus, in addition to his base salary.
What is Apogee Enterprises, Inc.'s state of incorporation?
Apogee Enterprises, Inc. is incorporated in Minnesota.
Filing Stats: 428 words · 2 min read · ~1 pages · Grade level 11.1 · Accepted 2024-08-08 16:25:23
Key Financial Figures
- $0.33 — nge on which registered Common Stock, $0.33 1/3 Par Value APOG The Nasdaq Stock Mar
Filing Documents
- apog-20240808.htm (8-K) — 27KB
- 0000006845-24-000231.txt ( ) — 146KB
- apog-20240808.xsd (EX-101.SCH) — 2KB
- apog-20240808_lab.xml (EX-101.LAB) — 21KB
- apog-20240808_pre.xml (EX-101.PRE) — 12KB
- apog-20240808_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. 104 Cover Page interactive Data file (embedded within the Inline XBRL document). 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. APOGEE ENTERPRISES, INC. By: /s/ Meghan M. Elliott Meghan M. Elliott Chief Legal Officer and Secretary Date: August 8, 2024