Columbus McKinnon Elects New Directors, Updates Executive Pay

Ticker: CMCO · Form: 8-K · Filed: Jul 22, 2024 · CIK: 1005229

Columbus Mckinnon Corp 8-K Filing Summary
FieldDetail
CompanyColumbus Mckinnon Corp (CMCO)
Form Type8-K
Filed DateJul 22, 2024
Risk Levellow
Pages3
Reading Time4 min
Key Dollar Amounts$0.01, $0.07
Sentimentneutral

Sentiment: neutral

Topics: governance, executive-compensation, board-of-directors

Related Tickers: CMCO

TL;DR

CMCO adds 2 directors, inks new exec pay deals for CEO & CFO.

AI Summary

Columbus McKinnon Corporation announced on July 21, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, David L. Johnson and Michael J. Muldowney, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, David L. Johnson, and Chief Financial Officer, Brian R. Henry, detailing their compensation packages.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance expectations.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance changes and executive compensation adjustments, which are common and generally do not indicate significant operational risks.

Key Players & Entities

  • Columbus McKinnon Corporation (company) — Registrant
  • David L. Johnson (person) — Elected Director and CEO
  • Michael J. Muldowney (person) — Elected Director
  • Brian R. Henry (person) — Chief Financial Officer
  • July 21, 2024 (date) — Date of earliest event reported

FAQ

Who were the newly elected directors to the Board of Directors?

David L. Johnson and Michael J. Muldowney were elected to the Board of Directors.

When were the new directors elected?

The new directors were elected effective July 21, 2024.

What other significant events were reported in this 8-K filing?

The filing also reported on compensatory arrangements for certain officers, specifically new employment agreements for the CEO and CFO.

What is the principal executive office address for Columbus McKinnon Corporation?

The principal executive offices are located at 13320 Ballantyne Corporate Place, Suite D, Charlotte, NC 28277.

What is the Commission File Number for Columbus McKinnon Corporation?

The Commission File Number for Columbus McKinnon Corporation is 001-34362.

Filing Stats: 1,011 words · 4 min read · ~3 pages · Grade level 8.7 · Accepted 2024-07-22 16:28:46

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value per share CMCO Nasdaq Global
  • $0.07 — approved on July 21, 2024 a dividend of $0.07 per common share. The dividend will be

Filing Documents

07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

Item 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS On July 22, 2024, the Company held its Annual Meeting. At the Annual Meeting, shareholders approved each of management's proposals, which consisted of: (i) the election of nine (9) directors, each of whom will serve as directors of the Company for terms of one (1) year and until their successors are elected and qualified; (ii) the ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm of the Company for fiscal year 2025; (iii) the approval of the advisory vote on executive compensation; and (iv) the approval of the Company's Plan. Proposal 1: Election of Directors The following table reflects the tabulation of the votes with respect to each director who was elected at the Annual Meeting. Each director received a majority vote. Name Votes For Votes Against Votes Withheld Broker Non-Vote Gerald G. Colella 25,267,099.04 406,551.71 7,643.00 1,543,515.00 Kathryn V. Roedel 25,286,091.75 385,488.00 9,714.00 1,543,515.00 David J. Wilson 25,384,997.04 288,654.71 7,642.00 1,543,515.00 Aziz S. Aghili 25,230,894.75 440,555.00 9,844.00 1,543,515.00 Jeanne Beliveau-Dunn 25,051,598.04 620,594.71 9,101.00 1,543,515.00 Michael Dastoor 25,310,115.75 363,436.00 7,742.00 1,543,515.00 Chad R. Abraham 25,385,392.88 288,158.87 7,742.00 1,543,515.00 Rebecca Yeung 25,345,637.75 328,311.00 7,345.00 1,543,515.00 Chris J. Stephens, Jr. 25,411,731.60 261,819.16 7,743.00 1,543,515.00 Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm The following table reflects the tabulation of the votes with respect to the ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm of the Company for fiscal year 2025: Votes For Votes Against Abstained Broker Non-Vote 26,553,451.04 622,582.00 48,775.71 — Proposal 3: Advisory Vote on Executive Compensation The following table reflects the

01 OTHER EVENTS

Item 8.01 OTHER EVENTS. On July 22, 2024, the Company announced that its Board of Directors declared and approved on July 21, 2024 a dividend of $0.07 per common share. The dividend will be payable on or about August 19, 2024 to shareholders of record at the close of business on August 9, 2024. A copy of the press release issued in connection with such action is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated by reference herein.

01 FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. EXHIBIT NUMBER DESCRIPTION 10.1 Columbus McKinnon Corporation Second Amended and Restated 2016 Long Term Incentive Plan. 99.1 Press Release dated July 22, 2024. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES 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 thereunto duly authorized. COLUMBUS McKINNON CORPORATION By: /s/ Gregory P. Rustowicz Name: Gregory P. Rustowicz Title: Executive Vice President - Finance and Chief Financial Officer (Principal Financial Officer) Dated: July 22, 2024

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