Embecta Corp. Reports Director Departure and Officer Changes
Ticker: EMBC · Form: 8-K · Filed: Dec 2, 2024 · CIK: 1872789
| Field | Detail |
|---|---|
| Company | Embecta CORP. (EMBC) |
| Form Type | 8-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $400,000, $325,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, director-departure
Related Tickers: EMBC
TL;DR
Embecta director Michael J. De Guzman is out, new board members in, and officer pay details are out. #CorpGov
AI Summary
Embecta Corp. announced on November 26, 2024, the departure of director Michael J. De Guzman. The company also reported on the election of new directors and compensatory arrangements for certain officers. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition and officer compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and officer compensation, which typically carry low immediate risk.
Key Players & Entities
- Embecta Corp. (company) — Registrant
- Michael J. De Guzman (person) — Departing Director
- November 26, 2024 (date) — Date of earliest event reported
- Delaware (location) — State of Incorporation
- 001-41186 (company_id) — Commission File Number
FAQ
Who is the departing director and when did their departure become effective?
Michael J. De Guzman is the departing director, and the earliest event reported is November 26, 2024.
What is the company's state of incorporation?
Embecta Corp. is incorporated in Delaware.
What is the Commission File Number for Embecta Corp.?
The Commission File Number for Embecta Corp. is 001-41186.
What section of the Securities Exchange Act does this report fall under?
This report is filed pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What are the main topics covered in this 8-K filing?
The filing covers the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Filing Stats: 863 words · 3 min read · ~3 pages · Grade level 11.5 · Accepted 2024-12-02 16:43:24
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share EMBC The Nasdaq Stock Mar
- $400,000 — l receive: (i) an annual base salary of $400,000, (ii) eligibility to participate in the
- $325,000 — y, with an annual target grant award of $325,000, (iv) a one-time grant of time-based re
Filing Documents
- ss4188643_8k.htm (8-K) — 31KB
- 0000947871-24-000973.txt ( ) — 201KB
- embc-20241126.xsd (EX-101.SCH) — 3KB
- embc-20241126_lab.xml (EX-101.LAB) — 33KB
- embc-20241126_pre.xml (EX-101.PRE) — 22KB
- ss4188643_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. On November 26, 2024, Embecta Corp. (the "Company") appointed Anthony Roth as Vice President, Chief Accounting Officer and Corporate Controller of the Company and principal accounting officer of the Company, effective as of December 2, 2024. Prior to joining the Company, Mr. Roth, 51, served as Senior Vice President, Chief Accounting Officer for Ascential plc's Digital Commerce business during 2023 and as Chief Accounting Officer and Corporate Controller for Summit Health, from 2020 to 2023. Prior to his time with Summit Health, he served as Senior Vice President, Finance and Corporate Controller with Phibro Animal Health Corporation. Mr. Roth, a certified public accountant, has also held various accounting and financial reporting positions across several companies, including Squarespace, Inc., ConvaTec Inc. and Travelport Limited. In connection with Mr. Roth's appointment, the Company entered into an offer letter (the "Offer Letter") pursuant to which Mr. Roth will receive: (i) an annual base salary of $400,000, (ii) eligibility to participate in the Company's annual incentive plan, with a target bonus opportunity of 40% of his base salary, (iii) eligibility to participate in the long-term incentive ("LTI") program of the Company, with an annual target grant award of $325,000, (iv) a one-time grant of time-based restricted stock units under the LTI program with an aggregate grant date value of $325,000, vesting in equal installments over three years and (v) eligibility to participate in the Company's employee benefit plans or programs. The terms of Mr. Roth's severance and change in control arrangements are consistent with those of Tier III executives under the Company's Executive Severance and Change in Control Plan (the "Severance and CIC Plan"). The Severance and CIC Plan is Exhibit 10.6 to the Company
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 hereunto duly authorized. EMBECTA CORP. By: /s/ Jeff Mann Jeff Mann Senior Vice President, General Counsel, Head of Business Development and Corporate Secretary Dated: December 2, 2024