Kennametal Appoints New CFO, Patrick Watson
Ticker: KMT · Form: 8-K · Filed: Mar 14, 2024 · CIK: 55242
| Field | Detail |
|---|---|
| Company | Kennametal Inc (KMT) |
| Form Type | 8-K |
| Filed Date | Mar 14, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1.25, $925,000, $3,850,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, leadership-change
Related Tickers: KMT
TL;DR
Kennametal names Patrick Watson as new CFO, starting March 11th.
AI Summary
On March 8, 2024, Kennametal Inc. announced the appointment of Patrick Watson as its new Chief Financial Officer, effective March 11, 2024. Watson will receive an annual base salary of $475,000 and will be eligible for the company's annual incentive plan and long-term equity awards. He previously served as CFO at Axalta Coating Systems.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $475,000 — CFO Annual Base Salary (This is the starting base compensation for the new Chief Financial Officer.)
Key Players & Entities
- Kennametal Inc. (company) — Company making the announcement
- Patrick Watson (person) — Newly appointed Chief Financial Officer
- $475,000 (dollar_amount) — Annual base salary for the new CFO
- March 11, 2024 (date) — Effective date of the new CFO's appointment
- Axalta Coating Systems (company) — Previous employer of the new CFO
FAQ
Who is the new Chief Financial Officer of Kennametal Inc.?
Patrick Watson has been appointed as the new Chief Financial Officer of Kennametal Inc.
When does Patrick Watson's appointment as CFO become effective?
Patrick Watson's appointment as CFO is effective March 11, 2024.
What is Patrick Watson's annual base salary?
Patrick Watson's annual base salary is $475,000.
What was Patrick Watson's previous role?
Patrick Watson previously served as CFO at Axalta Coating Systems.
What other compensation will Patrick Watson be eligible for?
Patrick Watson will be eligible for the company's annual incentive plan and long-term equity awards.
Filing Stats: 1,371 words · 5 min read · ~5 pages · Grade level 10.7 · Accepted 2024-03-14 16:08:06
Key Financial Figures
- $1.25 — ch registered Capital Stock, par value $1.25 per share KMT New York Stock Exchange
- $925,000 — o the following: Annual base salary of $925,000. Participation in the Company's Annual
- $3,850,000 — receive a long-term incentive grant of $3,850,000, consisting of 60% Performance Stock Un
Filing Documents
- kmt-20240308.htm (8-K) — 45KB
- exhibit101officersemployme.htm (EX-10.1) — 89KB
- kmt3142024exhibit991.htm (EX-99.1) — 12KB
- new2022prheadera.jpg (GRAPHIC) — 36KB
- 0000055242-24-000015.txt ( ) — 412KB
- kmt-20240308.xsd (EX-101.SCH) — 3KB
- kmt-20240308_def.xml (EX-101.DEF) — 19KB
- kmt-20240308_lab.xml (EX-101.LAB) — 33KB
- kmt-20240308_pre.xml (EX-101.PRE) — 19KB
- kmt-20240308_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events. On March 14, 2024, the Company issued a press release announcing the appointment of Sanjay Chowbey as President and Chief Executive Officer and the retirement of Christopher Rossi. A copy of this press release is attached hereto as Exhibit 99.1.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits 10.1 Form of President and CEO Executive Officer Agreement (Filed Herewith) 10.2 Form of Indemnification Agreement for Named Executive Officers (Exhibit 10.2 of the Form 8-K filed March 22, 2005 is incorporated herein by reference) 99.1 Press Release dated March 14, 202 4 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. KENNAMETAL INC. Date: March 14, 2024 By: /s/ Michelle R. Keating Michelle R. Keating Vice President, Secretary and General Counsel 4