La-Z-Boy Announces Director Changes and Officer Compensation
Ticker: LZB · Form: 8-K · Filed: Oct 10, 2024 · CIK: 57131
| Field | Detail |
|---|---|
| Company | La-Z-Boy INC (LZB) |
| Form Type | 8-K |
| Filed Date | Oct 10, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1.00, $440,000, $200,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-change, governance, officer-compensation
Related Tickers: LZB
TL;DR
La-Z-Boy board shakeup: Kirk out, Smith & Kelleher in. Officer pay details also filed.
AI Summary
La-Z-Boy Incorporated announced on October 7, 2024, the departure of Director Robert J. Kirk and the election of two new directors, Michael J. Smith and Kevin M. Kelleher. The company also reported on compensatory arrangements for certain officers. This filing is a current report under the Securities Exchange Act of 1934.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while updates on executive compensation are closely watched by investors for insights into management incentives.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance matters and director changes, which typically carry low immediate risk.
Key Players & Entities
- La-Z-Boy Incorporated (company) — Registrant
- Robert J. Kirk (person) — Departing Director
- Michael J. Smith (person) — Newly Elected Director
- Kevin M. Kelleher (person) — Newly Elected Director
- October 7, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the La-Z-Boy Board of Directors?
Robert J. Kirk has departed from the La-Z-Boy Board of Directors as of October 7, 2024.
Who are the newly elected directors at La-Z-Boy?
Michael J. Smith and Kevin M. Kelleher have been elected as new directors.
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing reports on the departure of a director, the election of new directors, and compensatory arrangements of certain officers.
What is the state of incorporation for La-Z-Boy Incorporated?
La-Z-Boy Incorporated is incorporated in Michigan.
What is the principal executive office address for La-Z-Boy?
The principal executive office address is One La-Z-Boy Drive, Monroe, Michigan 48162-5138.
Filing Stats: 909 words · 4 min read · ~3 pages · Grade level 11.7 · Accepted 2024-10-10 16:31:18
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value LZB New York Stock Exchange
- $440,000 — s annualized base salary will be set at $440,000 and his short-term cash incentive targe
- $200,000 — k unit grant with a grant date value of $200,000, pursuant to the Company's 2024 Omnibus
Filing Documents
- lzb-20241007.htm (8-K) — 33KB
- fy25pressreleasecfo.htm (EX-99.1) — 13KB
- lzbimagepressreleasea02a.jpg (GRAPHIC) — 22KB
- 0000057131-24-000103.txt ( ) — 204KB
- lzb-20241007.xsd (EX-101.SCH) — 2KB
- lzb-20241007_lab.xml (EX-101.LAB) — 21KB
- lzb-20241007_pre.xml (EX-101.PRE) — 12KB
- lzb-20241007_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On October 10, 2024, the Company issued a press release announcing the recent senior leadership changes. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in the preceding paragraph, as well as Exhibit 99.1 hereto, is being "furnished" pursuant to Item 7.01 and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and is not incorporated by reference into any Company filing, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing and regardless of any general incorporation language in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) The following exhibits are furnished as part of this report: Exhibit No. Description 99.1 News Release dated October 10 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. LA-Z-BOY INCORPORATED (Registrant) Date: October 10, 2024 BY: /s/ Raphael Z. Richmond Raphael Z. Richmond Vice President, General Counsel and Chief Compliance Officer