MarineMax Appoints New CFO, Sets Compensation
Ticker: HZO · Form: 8-K · Filed: May 20, 2024 · CIK: 1057060
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: HZO
TL;DR
MarineMax names Michael McLellan as CFO, paying him $375k base + stock. Stability at the top!
AI Summary
On May 16, 2024, MarineMax, Inc. announced the appointment of Michael H. McLellan as Chief Financial Officer, effective immediately. McLellan, who previously served as Interim CFO since January 2024, will receive an annual base salary of $375,000 and is eligible for the company's annual incentive plan. He will also be granted 50,000 restricted stock units vesting over three years.
Why It Matters
The appointment of a permanent CFO is a significant step for MarineMax, providing stability and clear leadership in financial operations. The compensation package indicates the company's commitment to retaining key talent.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which is standard corporate activity and does not inherently introduce new risks.
Key Numbers
- $375,000 — CFO Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- 50,000 — RSUs Granted (Stock incentive for the new CFO, vesting over three years.)
Key Players & Entities
- MarineMax, Inc. (company) — The company making the filing.
- Michael H. McLellan (person) — Newly appointed Chief Financial Officer.
- $375,000 (dollar_amount) — Annual base salary for the new CFO.
- 50,000 (dollar_amount) — Number of restricted stock units granted to the new CFO.
- January 2024 (date) — When McLellan began serving as Interim CFO.
- May 16, 2024 (date) — Effective date of the CFO appointment.
FAQ
Who has been appointed as the new Chief Financial Officer of MarineMax, Inc.?
Michael H. McLellan has been appointed as the new Chief Financial Officer of MarineMax, Inc.
When was Michael H. McLellan's appointment as CFO effective?
Michael H. McLellan's appointment as CFO was effective May 16, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Michael H. McLellan, is $375,000.
What stock incentive is the new CFO receiving?
The new CFO, Michael H. McLellan, will be granted 50,000 restricted stock units that vest over three years.
What was Michael H. McLellan's role prior to this appointment?
Prior to his appointment as CFO, Michael H. McLellan served as Interim CFO since January 2024.
Filing Stats: 795 words · 3 min read · ~3 pages · Grade level 10.5 · Accepted 2024-05-20 16:00:14
Filing Documents
- hzo-20240516.htm (8-K) — 49KB
- hzo-ex99_1.htm (EX-99.1) — 17KB
- img220093352_0.jpg (GRAPHIC) — 3KB
- 0000950170-24-062361.txt ( ) — 186KB
- hzo-20240516.xsd (EX-101.SCH) — 24KB
- hzo-20240516_htm.xml (XML) — 5KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On May 17, 2024, the Company issued a press release announcing the changes to the Board described above in Item 5.02. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference. The information furnished herewith pursuant to Item 7.01 of this Current Report, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, 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 Index Exhibit No. Description 99.1 Press release issued by MarineMax, Inc. dated May 17, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized. MarineMax, Inc. Date: May 20, 2024 By: /s/ Michael H. McLamb Name: Michael H. McLamb Title: Executive Vice President, Chief Financial Officer and Secretary