Knife River Corp Appoints New CFO, David R. Harris
Ticker: KNF · Form: 8-K · Filed: Jun 27, 2024 · CIK: 1955520
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
New CFO David R. Harris starts July 1st with $375k salary + stock.
AI Summary
Knife River Corporation announced on June 27, 2024, the appointment of David R. Harris as its new Chief Financial Officer, effective July 1, 2024. Harris will receive an annual base salary of $375,000 and will be eligible for a discretionary annual bonus. He will also be granted 15,000 restricted stock units vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and compensation, with no immediate financial distress or major strategic shifts indicated.
Key Numbers
- $375,000 — CFO Base Salary (Annual compensation for David R. Harris.)
- 15,000 — RSUs Granted (Stock incentive for the new CFO, vesting over three years.)
Key Players & Entities
- Knife River Corporation (company) — Registrant
- David R. Harris (person) — Appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- 15,000 (dollar_amount) — Restricted stock units granted to new CFO
- July 1, 2024 (date) — Effective date for new CFO
- June 27, 2024 (date) — Date of report
FAQ
Who has been appointed as the new Chief Financial Officer of Knife River Corporation?
David R. Harris has been appointed as the new Chief Financial Officer of Knife River Corporation.
When is David R. Harris's appointment as CFO effective?
David R. Harris's appointment as CFO is effective July 1, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, David R. Harris, is $375,000.
What stock-based compensation will David R. Harris receive?
David R. Harris will be granted 15,000 restricted stock units that vest over three years.
What other compensation is the new CFO eligible for?
David R. Harris will be eligible for a discretionary annual bonus.
Filing Stats: 760 words · 3 min read · ~3 pages · Grade level 10.4 · Accepted 2024-06-27 16:53:59
Key Financial Figures
- $0.01 — nge on which registered) Common Stock, $0.01 par value KNF New York Stock Exchange
Filing Documents
- knf-20240627.htm (8-K) — 26KB
- exhibit991-chiodoappointme.htm (EX-99.1) — 7KB
- pressrelease.jpg (GRAPHIC) — 20KB
- 0001955520-24-000034.txt ( ) — 214KB
- knf-20240627.xsd (EX-101.SCH) — 2KB
- knf-20240627_def.xml (EX-101.DEF) — 14KB
- knf-20240627_lab.xml (EX-101.LAB) — 26KB
- knf-20240627_pre.xml (EX-101.PRE) — 15KB
- knf-20240627_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On June 27, 2024, the Company issued a press release announcing the appointment of Ms. Chiodo. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01 and Exhibit 99.1 furnished hereto shall not be deemed "filed" for 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 it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The following exhibits are being furnished as part of this report. Exhibit Number Description 99.1 Press release of Knife River Corporation, dated June 27, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2 SIGNATURE 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. Knife River Corporation Date June 27, 2024 By /s/ Karl A. Liepitz Karl A. Liepitz Vice President, Chief Legal Officer and Secretary 3