Global Industrial Co. Elects New Directors, Adjusts Executive Pay
Ticker: GIC · Form: 8-K · Filed: Mar 5, 2024 · CIK: 945114
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Board shakeup at Global Industrial: new directors in, exec pay adjusted.
AI Summary
Global Industrial Company announced on February 28, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael E. Daniels and David R. Johnson, and appointed new officers. The filing also details compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, and future performance.
Risk Assessment
Risk Level: medium — Changes in board and executive roles can indicate internal shifts that may impact future company performance and strategy.
Key Players & Entities
- Global Industrial Company (company) — Registrant
- Michael E. Daniels (person) — Newly Elected Director
- David R. Johnson (person) — Newly Elected Director
- February 28, 2024 (date) — Date of earliest event reported
- 11 Harbor Park Drive, Port Washington, New York 11050 (address) — Principal Executive Offices
FAQ
Who are the newly elected directors for Global Industrial Company?
Michael E. Daniels and David R. Johnson were elected as new directors.
What is the principal executive office address for Global Industrial Company?
The principal executive offices are located at 11 Harbor Park Drive, Port Washington, New York 11050.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated February 28, 2024.
What is the SIC code for Global Industrial Company?
The Standard Industrial Classification code is 5084, Wholesale-Industrial Machinery & Equipment.
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: 486 words · 2 min read · ~2 pages · Grade level 13.5 · Accepted 2024-03-05 16:42:57
Key Financial Figures
- $187,500 — of Global Industrial Company approved a $187,500 special award of performance-based rest
Filing Documents
- gic-20240228.htm (8-K) — 27KB
- 0000945114-24-000012.txt ( ) — 147KB
- gic-20240228.xsd (EX-101.SCH) — 2KB
- gic-20240228_lab.xml (EX-101.LAB) — 21KB
- gic-20240228_pre.xml (EX-101.PRE) — 12KB
- gic-20240228_htm.xml (XML) — 3KB
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. GLOBAL INDUSTRIAL COMPANY Date: March 5, 2024 By: /s/ Thomas Clark Name: Thomas Clark Title: Senior Vice President and Chief Financial Officer