LSB Industries Appoints Interim CFO

TL;DR

LSB Industries names Mark Smith interim CFO, paying him $350k/year while they look for a permanent hire.

AI Summary

LSB Industries, Inc. announced on August 7, 2024, the appointment of Mark L. Smith as Interim Chief Financial Officer, effective immediately. Smith, who has served as Senior Vice President, Corporate Controller, and Chief Accounting Officer since 2019, will assume these new duties while the company conducts a search for a permanent CFO. He will receive an annual base salary of $350,000 for his expanded role.

Why It Matters

The appointment of an interim CFO signals a transition period for the company's financial leadership, which could impact investor confidence and strategic financial decisions.

Risk Assessment

Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding the company's financial strategy and stability.

Key Numbers

• $350,000 — Annual Base Salary (Compensation for Mark L. Smith as Interim CFO.)

Key Players & Entities

• LSB Industries, Inc. (company) — Registrant
• Mark L. Smith (person) — Interim Chief Financial Officer
• $350,000 (dollar_amount) — Annual base salary for Interim CFO
• August 7, 2024 (date) — Effective date of appointment

FAQ

Filing Documents

• lxu-20240807.htm (8-K) — 56KB
• lxu-ex99_1.htm (EX-99.1) — 14KB
• img96032092_0.jpg (GRAPHIC) — 29KB
• 0000950170-24-095454.txt ( ) — 266KB
• lxu-20240807.xsd (EX-101.SCH) — 53KB
• lxu-20240807_htm.xml (XML) — 6KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 7, 2024, Richard W. Roedel informed LSB Industries, Inc. (the "Company") that he intends to resign from the Board of Directors of the Company but that in order to ensure an orderly and effective transaction he will remain a director until such time as a successor director is identified and elected. In connection with Mr. Roedel's announcement of retirement from the Company's Board of Directors, he has resigned his position as Chairman of the Board of Directors of the Company effective immediately and the Board has elected Mark Behrman, the Company's President and Chief Executive Officer, to serve as Chairman of the Board and Lynn F. White to serve as Lead Independent Director. Mr. Roedel's decision to resign from the Board is the result of personal health reasons and not the result of any disagreement with the Company's operations, policies or practices.

01

Item 7.01 Regulation FD Disclosure. On August 12, 2024, the Company issued a press release announcing the retirement of Mr. Roedel to the Board. The press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.The information furnished under Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "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 to be incorporated by reference into any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release of LSB Industries, Inc. dated August 12, 2024, entitled "LSB Industries, Inc. Announces the Retirement of Richard W. Roedel as Chariman of the Board of Directors." 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 12, 2024 LSB INDUSTRIES, INC. By: /s/ Michael J. Foster Name: Michael J. Foster Title: Executive Vice President, General Counsel and Secretary 3

View Full Filing

View this 8-K filing on SEC EDGAR