Hyster-Yale Appoints New CFO, Stock Grants Issued
Ticker: HY · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1173514
| Field | Detail |
|---|---|
| Company | Hyster-Yale Materials Handling, Inc. (HY) |
| Form Type | 8-K |
| Filed Date | Mar 5, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $316,000, $336,000, $16,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
New CFO Steven Schwalb starts March 4th, gets $450k salary + $1M stock grant.
AI Summary
Hyster-Yale Materials Handling, Inc. announced on March 1, 2024, the appointment of Steven J. Schwalb as Executive Vice President and Chief Financial Officer, effective March 4, 2024. Schwalb will receive an annual base salary of $450,000 and is eligible for a discretionary annual bonus. He will also be granted restricted stock units valued at $1,000,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The stock grants indicate a commitment to retaining key talent.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and compensation, with no immediate financial distress or significant operational changes indicated.
Key Numbers
- $450,000 — CFO Annual Salary (Base compensation for Steven J. Schwalb.)
- $1,000,000 — CFO Stock Grant (Value of restricted stock units awarded to Steven J. Schwalb.)
Key Players & Entities
- HYSTER-YALE MATERIALS HANDLING, INC. (company) — Registrant
- Steven J. Schwalb (person) — Appointed Executive Vice President and Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- $1,000,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- March 1, 2024 (date) — Date of report
- March 4, 2024 (date) — Effective date of CFO appointment
FAQ
What is Steven J. Schwalb's new role at Hyster-Yale Materials Handling, Inc.?
Steven J. Schwalb has been appointed as Executive Vice President and Chief Financial Officer.
When is Steven J. Schwalb's appointment effective?
The appointment is effective March 4, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Steven J. Schwalb is $450,000.
What is the value of the stock grant provided to the new CFO?
Steven J. Schwalb will be granted restricted stock units valued at $1,000,000.
How will the restricted stock units granted to the new CFO vest?
The restricted stock units valued at $1,000,000 will vest over a three-year period.
Filing Stats: 814 words · 3 min read · ~3 pages · Grade level 12.5 · Accepted 2024-03-05 16:42:33
Key Financial Figures
- $0.01 — which registered Class A Common Stock, $0.01 par value per share HY New York Stock E
- $316,000 — 4, setting her base salary at a rate of $316,000 per year. Ms. McKee will also receive:
- $336,000 — of her role's salary midpoint (which is $336,000 for 2024) (for 2024, this award will be
- $16,000 — % in cash; perquisite cash allowance of $16,000 per year; and participation in certain
Filing Documents
- hy-20240301.htm (8-K) — 29KB
- 0001173514-24-000027.txt ( ) — 153KB
- hy-20240301.xsd (EX-101.SCH) — 2KB
- hy-20240301_lab.xml (EX-101.LAB) — 24KB
- hy-20240301_pre.xml (EX-101.PRE) — 12KB
- hy-20240301_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. Date: March 5, 2024 HYSTER-YALE MATERIALS HANDLING, INC. By: /s/ Suzanne Schulze Taylor Name: Suzanne Schulze Taylor Title: Senior Vice President, General Counsel and Secretary