Enerpac Tool Group Names Interim CFO, CEO Employment Agreement

TL;DR

Enerpac names interim CFO, Paul Sandeen, also Chairman. CEO Paul Stern signs new employment deal.

AI Summary

Enerpac Tool Group Corp. announced on October 11, 2024, the appointment of Paul R. Sandeen as Interim Chief Financial Officer, effective immediately. Sandeen, who previously served as a director, will also continue his role as Chairman of the Board. The company also disclosed that it has entered into a new employment agreement with its President and CEO, Paul L. Stern, effective October 11, 2024.

Why It Matters

The appointment of an interim CFO and the new employment agreement for the CEO indicate potential leadership transitions or strategic realignments within the company.

Risk Assessment

Risk Level: medium — Changes in key financial and executive roles can signal underlying business challenges or strategic shifts that may impact future performance.

Key Players & Entities

• Enerpac Tool Group Corp. (company) — Registrant
• Paul R. Sandeen (person) — Interim Chief Financial Officer and Chairman of the Board
• Paul L. Stern (person) — President and CEO
• October 11, 2024 (date) — Effective date of appointments and agreements

FAQ

Key Financial Figures

• $0.20 — stered Class A Common Stock, par value $0.20 per share EPAC New York Stock Exchange
• $485,000 — receive annual base salary at a rate of $485,000. He will participate in the Company's a
• $225,000 — RSUs having a grant date fair value of $225,000 vesting, subject to his continued emplo
• $250,000 — RSUs having a grant date fair value of $250,000 vesting, subject to his continued emplo
• $500,000 — cted aggregate grant date fair value of $500,000 allocated equally between RSUs and perf
• $318,000 — . Kozik will receive a signing bonus of $318,000. He will be required to repay all or so

Filing Documents

• f8k_101524.htm (8-K) — 21KB
• exh_101.htm (EX-10.1) — 25KB
• exh_991.htm (EX-99.1) — 4KB
• hdr.jpg (GRAPHIC) — 20KB
• 0001171843-24-005633.txt ( ) — 283KB
• gnw-20190101.xsd (EX-101.SCH) — 3KB
• gnw-20190101_def.xml (EX-101.DEF) — 25KB
• gnw-20190101_lab.xml (EX-101.LAB) — 33KB
• gnw-20190101_pre.xml (EX-101.PRE) — 22KB
• f8k_101524_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On October 15, 2024, the Company issued a press release, which is furnished as Exhibit 99.1 hereto and is incorporated by reference herein. The information set forth in this Item 7.01 and in Exhibit 99.1 is "furnished" under Item 7.01 of Form 8-K. Such information shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Letter agreement dated September 23, 2024 between Darren M. Kozik and Enerpac Tool Group Corp. 99.1 Press Release dated October 15, 2024 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. ENERPAC TOOL GROUP CORP. Date: October 15, 2024 By: /s/ James Denis James Denis Executive Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR