Gorman Rupp Co. Files Definitive Proxy Statement

Ticker: GRC · Form: DEF 14A · Filed: Mar 25, 2024 · CIK: 42682

Gorman Rupp CO DEF 14A Filing Summary
FieldDetail
CompanyGorman Rupp CO (GRC)
Form TypeDEF 14A
Filed DateMar 25, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$55,000, $5,000, $10,000, $15,000, $60,000
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Executive Compensation, Shareholder Meeting, Gorman Rupp, DEF 14A

TL;DR

<b>The Gorman Rupp Company has filed its Definitive Proxy Statement for the period ending April 25, 2024.</b>

AI Summary

GORMAN RUPP CO (GRC) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. The filing is a Definitive Proxy Statement (DEF 14A) for The Gorman Rupp Company. The report covers the period ending April 25, 2024, with a filing date of March 25, 2024. The company's fiscal year ends on December 31. The filing includes data related to executive compensation, specifically grants and changes in pension values for PEO and Non-PEO members across multiple years (2020-2023). The company is incorporated in Ohio and operates in the Pumps & Pump Equipment industry.

Why It Matters

For investors and stakeholders tracking GORMAN RUPP CO, this filing contains several important signals. This filing provides crucial details on executive compensation, including stock grants and pension adjustments, which can influence investor perception of management alignment and company financial health. As a DEF 14A, it signals upcoming shareholder meetings and votes, making it important for investors to understand the proposals and executive remuneration before participating.

Risk Assessment

Risk Level: low — GORMAN RUPP CO shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or significant operational changes, indicating a low level of immediate risk.

Analyst Insight

Review the executive compensation details and any shareholder proposals within the proxy statement to assess management incentives and potential governance changes.

Key Numbers

Key Players & Entities

FAQ

When did GORMAN RUPP CO file this DEF 14A?

GORMAN RUPP CO filed this Proxy Statement (DEF 14A) with the SEC on March 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by GORMAN RUPP CO (GRC).

Where can I read the original DEF 14A filing from GORMAN RUPP CO?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by GORMAN RUPP CO.

What are the key takeaways from GORMAN RUPP CO's DEF 14A?

GORMAN RUPP CO filed this DEF 14A on March 25, 2024. Key takeaways: The filing is a Definitive Proxy Statement (DEF 14A) for The Gorman Rupp Company.. The report covers the period ending April 25, 2024, with a filing date of March 25, 2024.. The company's fiscal year ends on December 31..

Is GORMAN RUPP CO a risky investment based on this filing?

Based on this DEF 14A, GORMAN RUPP CO presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial performance data or significant operational changes, indicating a low level of immediate risk.

What should investors do after reading GORMAN RUPP CO's DEF 14A?

Review the executive compensation details and any shareholder proposals within the proxy statement to assess management incentives and potential governance changes. The overall sentiment from this filing is neutral.

How does GORMAN RUPP CO compare to its industry peers?

The Gorman Rupp Company operates in the Pumps & Pump Equipment industry, classified under SIC code 3561.

Are there regulatory concerns for GORMAN RUPP CO?

The filing is a DEF 14A, a type of proxy statement required by the SEC for public companies.

Industry Context

The Gorman Rupp Company operates in the Pumps & Pump Equipment industry, classified under SIC code 3561.

Regulatory Implications

The filing is a DEF 14A, a type of proxy statement required by the SEC for public companies.

What Investors Should Do

  1. Analyze executive compensation data for potential red flags or positive indicators.
  2. Review any proposed shareholder resolutions and the company's recommendations.
  3. Note the dates for the upcoming shareholder meeting and voting deadlines.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure for upcoming shareholder meetings and executive compensation, rather than a report on financial performance compared to a previous period.

Filing Stats: 4,574 words · 18 min read · ~15 pages · Grade level 12 · Accepted 2024-03-25 09:03:19

Key Financial Figures

Filing Documents

From the Filing

DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 The Gorman-Rupp Company (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. Notice of 2024 Annual Meeting of Shareholders Place Live via the internet at www.proxydocs.com/GRC Date and Time April 25, 2024 10:00 a.m. Eastern Time Record Date Close of business on February 26, 2024 Items of Business Board Recommendation Page 1. Fix the number of Directors of the Company at eight and to elect eight Directors to hold office until the next Annual Meeting of Shareholders and until their successors are elected and qualified; FOR each of the nominees 3 2. Approve, on an advisory basis, the compensation of the Company's named Executive Officers; FOR 30 3. Approve and adopt The Gorman-Rupp Company 2024 Omnibus Incentive Plan; FOR 31 4. Ratify the appointment of Ernst & Young LLP as the independent registered public accounting firm for the Company for the year ending December 31, 2024; and FOR 40 5. Conduct any other business that may properly come before the Annual Meeting or any adjournment or postponement thereof. Important Notice Regarding the Annual Meeting of Shareholders to be held on April 25, 2024. The Company will hold the 2024 Annual Meeting of Shareholders of The Gorman-Rupp Company in a virtual meeting format only, via webcast. The Annual Meeting will be held on Thursday, April 25, 2024 at 10:00 a.m. (EDT). To participate in and/or vote at the virtual Annual Meeting shareholders must pre-register at www.proxydocs.com/GRC by entering their control number found on their enclosed proxy card prior to the deadline specified thereon. Upon completing your pre-registration, you will receive further instructions via email, including your unique link that will allow you access to the Annual Meeting and will also permit you to submit questions prior to the Annual Meeting. Important Notice Regarding the Internet Availability of Proxy Materials for the Annual Meeting of Shareholders to be held on April 25, 2024 — This Notice of Annual Meeting of Shareholders, Proxy Statement and related Proxy Card and the Company's 2023 Annual Report to Shareholders are available at http://www.proxypush.com/GRC . To cast your vote, you will need to enter the 12-digit control number located on the proxy card. Your vote is important. Even if you plan to participate in the 2024 Annual Meeting of Shareholders, please cast your vote at your earliest convenience before the Annual Meeting in case you are unable to attend. You may vote by telephone or internet by following the instructions on the enclosed proxy card, or by signing and submitting your enclosed proxy card and returning it in the enclosed envelope (which requires no postage if mailed in the United States), regardless of whether you plan to participate in the Annual Meeting. By Order of the Board of Directors BRIGETTE A. BURNELL Executive Vice President, General Counsel and Corporate Secretary March 25, 2024 To Our Shareholders Dear Shareholders: Letter from the Executive Chairman It's a pleasure to invite you to our 2024 Annual Meeting of Shareholders. I hope you can join us virtually on the webcast Thursday, April 25, 2024, at 10:00 a.m. (EDT). 2023 was an historic year for Gorman-Rupp as we celebrated our 90 th anniversary. We are proud of our long history of delivering quality products and taking care of our customers. During the meeting, we will provide an update on the performance of the Company in 2023 and the first quarter of 2024. Your vote is important. Even if you are unable to participate, it is important that your shares be represented and voted. Please refer to the voting instructions in the Notice of 2024 Annual Meeting of Shareholders on the preceding page. On behalf of the Board and all of our employees, thank you for your continued support. Sincerely, Jeffrey S. Gorman Dear Shareholders: Letter from the Lead Independent Director It is an honor to serve on the Gorman-Rupp Board as your Lead Independent Director. Our Board is committed to high standards of corporate governance and delivering long-term value for our shareholders. We celebrate the memory of Jim Gorman and his contributions to the Company for

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on Read The Filing