Quaker Chemical Elects New Directors, Adjusts Executive Pay
Ticker: KWR · Form: 8-K · Filed: Jul 31, 2024 · CIK: 81362
| Field | Detail |
|---|---|
| Company | Quaker Chemical CORP (KWR) |
| Form Type | 8-K |
| Filed Date | Jul 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
Quaker Chemical adds two directors and updates exec pay packages.
AI Summary
Quaker Chemical Corporation announced on July 31, 2024, changes in its board of directors and executive compensation arrangements. Specifically, the company elected two new directors, Ms. Mary Henderson and Mr. David Schanzer, to its Board of Directors. Additionally, the company entered into new employment agreements with certain executive officers, including Mr. Michael L. Keown, President and Chief Executive Officer, and Mr. Patrick J. Schmalz, Executive Vice President and Chief Financial Officer, effective July 31, 2024.
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 primarily concerns routine board and compensation changes, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Quaker Chemical Corporation (company) — Registrant
- Mary Henderson (person) — Newly elected Director
- David Schanzer (person) — Newly elected Director
- Michael L. Keown (person) — President and Chief Executive Officer
- Patrick J. Schmalz (person) — Executive Vice President and Chief Financial Officer
- July 31, 2024 (date) — Effective date of changes
FAQ
Who were the new directors elected to Quaker Chemical's Board?
Ms. Mary Henderson and Mr. David Schanzer were elected to the Board of Directors.
What is the effective date of the reported changes?
The changes reported in the 8-K filing are effective as of July 31, 2024.
Which executive officers entered into new employment agreements?
New employment agreements were entered into with certain executive officers, including Mr. Michael L. Keown and Mr. Patrick J. Schmalz.
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's state of incorporation and IRS number?
Quaker Chemical Corporation is incorporated in Pennsylvania and has an IRS Employer Identification Number of 23-0993790.
Filing Stats: 740 words · 3 min read · ~2 pages · Grade level 10.6 · Accepted 2024-07-31 17:00:39
Key Financial Figures
- $1 — ange on which registered Common Stock, $1 par value KWR New York Stock Exchange
Filing Documents
- kwr-20240731.htm (8-K) — 27KB
- kwr8-kxjuly2024exx991.htm (EX-99.1) — 8KB
- qhlogos.jpg (GRAPHIC) — 55KB
- 0000081362-24-000106.txt ( ) — 234KB
- kwr-20240731.xsd (EX-101.SCH) — 2KB
- kwr-20240731_lab.xml (EX-101.LAB) — 21KB
- kwr-20240731_pre.xml (EX-101.PRE) — 12KB
- kwr-20240731_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. A copy of the press release announcing the appointment of Meses. Bakhshi and Foufopoulos-De Ridder to the Company's Board is attached as Exhibit 99.1 to this Current Report on Form 8-K. Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), 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 shall be expressly set forth by specific reference in such filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. The following exhibits are included as part of this report: Exhibit No. Description 99.1 Press Release of Quaker Chemical Corporation dated July 31 , 202 4 (furnished herewith). 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. QUAKER CHEMICAL CORPORATION Date: July 31, 2024 By: /s/ Robert T. Traub Robert T. Traub Senior Vice President, General Counsel and Corporate Secretary 3