Quaker Chemical Elects New Directors, Amends Compensation Plan
Ticker: KWR · Form: 8-K · Filed: May 9, 2024 · CIK: 81362
| Field | Detail |
|---|---|
| Company | Quaker Chemical CORP (KWR) |
| Form Type | 8-K |
| Filed Date | May 9, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: KWR
TL;DR
Quaker Chemical adds two directors and tweaks exec pay. Board changes are in.
AI Summary
Quaker Chemical Corporation announced on May 8, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Mary Henderson and Mr. David Schanzer, to its Board, effective immediately. Additionally, the company's Compensation Committee approved amendments to the 2023 Long-Term Incentive Plan, impacting executive compensation arrangements.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and generally do not indicate significant new risks.
Key Players & Entities
- Quaker Chemical Corporation (company) — Registrant
- Mary Henderson (person) — Newly elected director
- David Schanzer (person) — Newly elected director
- 2023 Long-Term Incentive Plan (document) — Executive compensation plan
FAQ
Who are the newly elected directors to Quaker Chemical's Board?
Ms. Mary Henderson and Mr. David Schanzer were elected as new directors to the Board.
When were the new directors elected?
The new directors were elected effective immediately as of May 8, 2024.
What specific compensation plan was amended?
The Compensation Committee approved amendments to the 2023 Long-Term Incentive Plan.
What is Quaker Chemical Corporation's principal executive office address?
The principal executive offices are located at 901 E. Hector Street, Conshohocken, Pennsylvania 19428.
What is Quaker Chemical Corporation's IRS Employer Identification No.?
The IRS Employer Identification No. is 23-0993790.
Filing Stats: 836 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-05-09 16:02:01
Key Financial Figures
- $1 — ange on which registered Common Stock, $1 par value KWR New York Stock Exchange
Filing Documents
- kwr-20240508.htm (8-K) — 44KB
- kwr-202405xproxyresultsxex.htm (EX-10.1) — 215KB
- 0000081362-24-000061.txt ( ) — 413KB
- kwr-20240508.xsd (EX-101.SCH) — 2KB
- kwr-20240508_lab.xml (EX-101.LAB) — 21KB
- kwr-20240508_pre.xml (EX-101.PRE) — 12KB
- kwr-20240508_htm.xml (XML) — 3KB
07. Submission of Matters to a Vote of Security Holders
Item 5.07. Submission of Matters to a Vote of Security Holders. As of March 1, 2024, the record date for the 2024 Annual Meeting, 17,991,778 shares of the Company's common stock were outstanding, and the holders of those shares were entitled to cast one vote for each share held. Set forth below are the matters acted upon by the shareholders at the 2024 Annual Meeting and the final voting results of each such proposal. Proposal No.1 – Election of Directors. The shareholders elected three directors to serve a three-year term until the 2027 annual meeting of shareholders and until their respective successors are duly elected and qualified. The results of the vote were as follows: Directors For Against Abstain Broker Non-Votes Michael F. Barry 15,465,074 1,105,533 22,263 447,458 Jeffry D. Frisby 15,125,665 1,438,118 29,087 447,458 Russell R. Shaller 15,948,517 598,302 46,051 447,458 Proposal No. 2 – Advisory Vote on Compensation of the Company's Named Executive Officers The Company's shareholders approved, on a non-binding basis, the Company's compensation of its named executive officers as described in the Compensation Discussion and Analysis section and the accompanying compensation tables and narrative disclosures contained in the Company's Proxy Statement for the 2024 Annual Meeting (the "2024 Proxy Statement"). The results of the vote were as follows: For Against Abstain Broker Non-Votes 16,103,454 446,002 43,414 447,458 Proposal No. 3 – Approval of the Quaker Houghton 2024 Long-Term Performance Incentive Plan The Company's shareholders approved the Restated Plan. The results of the vote were as follows: For Against Abstain Broker Non-Votes 12,844,880 3,301,645 446,345 447,458 Proposal No. 4 – Ratification of Appointment of Independent Registered Public Accounting Firm for Fiscal Year 2024 The shareholders voted to ratify the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for the fisc
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. The following exhibits are included as part of this Current Report on Form 8-K. Exhibit Number Description of Exhibit 10.1 Quaker Houghton 2024 Long-Term Performance Incentive Plan (filed herewith) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) -3- 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. QUAKER CHEMICAL CORPORATION Date: May 9, 2024 By: /s/ Robert T. Traub Robert T. Traub Senior Vice President, General Counsel and Corporate Secretary 3