Janus International Group Announces Board and Executive Changes
Ticker: JBI · Form: 8-K · Filed: Dec 17, 2024 · CIK: 1839839
| Field | Detail |
|---|---|
| Company | Janus International Group, Inc. (JBI) |
| Form Type | 8-K |
| Filed Date | Dec 17, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $2,000,000, $750,000, $500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
Board shakeup and exec comp changes at Janus International Group.
AI Summary
Janus International Group, Inc. announced on December 16, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company reported the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for its key executives.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, potentially impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in directors and executive compensation can indicate internal shifts that may affect future performance or strategy.
Key Players & Entities
- Janus International Group, Inc. (company) — Registrant
- December 16, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 001-40456 (filing_number) — SEC File Number
- 135 Janus International Blvd., Temple, GA 30179 (address) — Principal Executive Office Address
FAQ
What specific roles have been affected by the departure of certain officers?
The filing indicates the departure of certain officers but does not specify the exact roles in this section.
Who are the newly elected directors?
The filing mentions the election of directors but does not list their names in this section.
What are the key changes in the compensatory arrangements for certain officers?
The filing notes updates to compensatory arrangements but does not detail the specific changes in this section.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on December 16, 2024.
What is the principal executive office address of Janus International Group, Inc.?
The principal executive office address is 135 Janus International Blvd., Temple, GA 30179.
Filing Stats: 722 words · 3 min read · ~2 pages · Grade level 14 · Accepted 2024-12-17 17:24:44
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share JBI New York Stock Exchan
- $2,000,000 — ettie have a grant date target value of $2,000,000, $750,000, $500,000 and $500,000, respe
- $750,000 — grant date target value of $2,000,000, $750,000, $500,000 and $500,000, respectively. T
- $500,000 — e target value of $2,000,000, $750,000, $500,000 and $500,000, respectively. The Committ
Filing Documents
- tm2431211d1_8k.htm (8-K) — 26KB
- tm2431211d1_ex10-1.htm (EX-10.1) — 74KB
- 0001104659-24-129436.txt ( ) — 285KB
- jbi-20241216_lab.xml (EX-101.LAB) — 33KB
- jbi-20241216_pre.xml (EX-101.PRE) — 22KB
- jbi-20241216.xsd (EX-101.SCH) — 3KB
- tm2431211d1_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 16, 2024 (the "Grant Date"), the Compensation Committee (the "Committee") of the Board of Directors of Janus International Group, Inc. (the "Company") approved the grant of a special, one-time award of performance stock units to Ramey Jackson, Chief Executive Officer, Anselm Wong, Executive Vice President and Chief Financial Officer, Morgan Hodges, Executive Vice President, and Vic Nettie, Vice President of Manufacturing (and to certain other key employees) under the Company's 2021 Omnibus Incentive Plan (the "Plan") (the "Special PSU Awards"). The Special PSU Awards granted to Messrs. Jackson, Wong, Hodges and Nettie have a grant date target value of $2,000,000, $750,000, $500,000 and $500,000, respectively. The Committee approved the Special PSU Awards for the purposes of: (i) promoting the motivation, commitment, and focus of the grantees on achieving financial performance objectives that are important to the Company's success, (ii) providing retention incentives for the grantees, and (iii) increasing the alignment of the interests of the grantees with the interests of the Company's stockholders. Vesting of the Special PSU Awards is contingent upon the Company's level of achievement with respect to two equally-weighted performance metrics, cumulative adjusted EBITDA and cumulative revenue, measured over a two year performance period consisting of fiscal years 2025 and 2026, as well as the grantee's continued employment until the date of the Committee's certification of the achievement of those performance metrics. The number of performance stock units vesting pursuant to the Special PSU Awards, if any, may range from 0% to 200% of the target number of performance stock units, depending on the level of performance achieved. The foregoing description of the terms of the Special PSU Awards is a s
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. 10.1* Form of Performance Stock Unit Award Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Management compensatory plan or arrangement.
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. JANUS INTERNATIONAL GROUP, INC. Date: December 17, 2024 By: /s/ Ramey Jackson Name: Ramey Jackson Chief Executive Officer