Compass Minerals Appoints New CFO and COO

TL;DR

Compass Minerals just swapped out their CFO and COO, effective immediately.

AI Summary

Compass Minerals International, Inc. announced on January 27, 2025, changes in its executive team. The company appointed a new Chief Financial Officer and a new Chief Operating Officer. These appointments are effective immediately and are part of the company's ongoing strategic realignment.

Why It Matters

Changes in key executive positions like CFO and COO can signal shifts in financial strategy and operational focus, potentially impacting the company's future performance and investor confidence.

Risk Assessment

Risk Level: medium — Executive changes, especially in critical roles like CFO and COO, can introduce uncertainty regarding future strategy and execution, warranting a medium risk assessment.

Key Players & Entities

• Compass Minerals International, Inc. (company) — Registrant
• January 27, 2025 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 001-31921 (commission_file_number) — SEC File Number
• 36-3972986 (irs_number) — I.R.S. Employer Identification No.
• 9900 West 109th Street Suite 100 Overland Park , KS 66210 (address) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common stock, $0.01 par value CMP The New York Stock Ex
• $575,000 — etter, Mr. Merrin's base salary will be $575,000 per year. Mr. Merrin's targeted cash bo
• $1,150,000 — "), with a target equity award value of $1,150,000. Mr. Merrin will receive a prorated LTI
• $150,000 — restricted stock units with a value of $150,000, vesting ratably over two years, and (i
• $280,000 — e a one-time cash payment consisting of $280,000. Mr. Merrin will be eligible to partic
• $15,500 — e Company for three months at a rate of $15,500 per month and contains customary confid
• $525,000 — er, Mr. Fjellman 's base salary will be $525,000 per year. Mr. Fjellman 's targeted cash
• $892,500 — IP, with a target equity award value of $892,500. Mr. Fjellman will receive a prorated L
• $100,000 — an inducement cash award consisting of $100,000. Mr. Fjellman will be eligible to part

Filing Documents

• tm254526d1_8k.htm (8-K) — 38KB
• tm254526d1_ex10-1.htm (EX-10.1) — 16KB
• tm254526d1_ex10-2.htm (EX-10.2) — 40KB
• tm254526d1_ex10-3.htm (EX-10.3) — 14KB
• tm254526d1_ex99-1.htm (EX-99.1) — 13KB
• tm254526d1_8kimg001.jpg (GRAPHIC) — 3KB
• tm254526d1_ex10-1img001.jpg (GRAPHIC) — 23KB
• tm254526d1_ex10-3img001.jpg (GRAPHIC) — 28KB
• tm254526d1_ex99-1img001.jpg (GRAPHIC) — 18KB
• 0001104659-25-006529.txt ( ) — 422KB
• cmp-20250127.xsd (EX-101.SCH) — 3KB
• cmp-20250127_lab.xml (EX-101.LAB) — 33KB
• cmp-20250127_pre.xml (EX-101.PRE) — 22KB
• tm254526d1_8k_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers; Election

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment and Compensation of Chief Operations Officer On January 27, 2025, the Board of Directors (the "Board") of Compass Minerals International, Inc . (the "Company") appointed Patrick Merrin as the Company's new Chief Operations Officer, effective as of the date he begins employment with the Company, which is expected to be March 3, 2025. Mr. Merrin, age 54, has three decades of experience in the mining industry. He joins the Company from Lundin Mining Corporation, a diversified Canadian base metals miner, where he served as executive vice president of technical services since January 2024. In April 2023, Mr. Merrin was appointed Chief Executive Officer of Copper Mountain Mining, a copper mining company, but did not assume the role due to its acquisition in June 2023. From March 2022 to April 2023 he worked at Newcrest Mining, first as Vice President of Planning and Development and later as Senior Vice President of Canadian Operations. From November 2020 to March 2022 he was an independent consultant. From January 2020 to October 2020 he was Chief Operations Officer of Mining at Washington Companies, a diversified holding company in the transportation, mining, construction, and shipbuilding industries. The Company entered into a letter agreement, signed January 17, 2025, with Mr. Merrin (the "COO Offer Letter"), establishing his compensation as Chief Operations Officer. Pursuant to the COO Offer Letter, Mr. Merrin's base salary will be $575,000 per year. Mr. Merrin's targeted cash bonus under the Company's Management Annual Incentive Program ("MAIP") will be calculated at 100% of his base salary, with any bonus payments dependent on the Company's pre-established performance goals. Mr. Merrin will be eligible to receive equity awards as part of the Company's Long-Term Incentive Program ("LTIP"), wit

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 10.1 Offer Letter, signed January 17, 2025, between Compass Minerals International, Inc. and Patrick Merrin. 10.2 Services Agreement, effective January 28, 2025, between Compass Minerals International, Inc. and Jeffrey Cathey. 10.3 Offer Letter, signed January 17, 2025, between Compass Minerals International, Inc. and Peter Fjellman. 99.1 Press Release issued by Compass Minerals International, Inc. on January 28, 2025. 104 Cover Page Interactive Data File (embedded within the XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMPASS MINERALS INTERNATIONAL, INC. Date: January 28, 2025 By: /s/ Mary L. Frontczak Name: Mary L. Frontczak Title: Chief Legal and Administrative Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR