Magnera Corp: Director Changes and Officer Compensation
Ticker: MAGN · Form: 8-K · Filed: Dec 20, 2024 · CIK: 41719
| Field | Detail |
|---|---|
| Company | Magnera CORP (MAGN) |
| Form Type | 8-K |
| Filed Date | Dec 20, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01, $1,000,000, $4,600,000, $1,500,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: director-change, officer-compensation, governance
TL;DR
Magnera Corp swapped a director and is updating exec pay. Board shakeup incoming?
AI Summary
Magnera Corp announced on December 16, 2024, the departure of director David L. Schippers and the election of new director David M. Schippers. The company also reported on compensatory arrangements for certain officers. No specific dollar amounts or new financial statements were detailed in this filing.
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.
Risk Assessment
Risk Level: low — This filing primarily concerns director changes and officer compensation, which are routine corporate governance events and do not immediately indicate significant financial risk.
Key Players & Entities
- Magnera Corp (company) — Registrant
- David L. Schippers (person) — Departing Director
- David M. Schippers (person) — Newly Elected Director
- Pennsylvania (location) — State of Incorporation
FAQ
Who is the new director elected to the Magnera Corp board?
David M. Schippers was elected as a new director to the Magnera Corp board.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on December 16, 2024.
What was the previous name of Magnera Corp?
The filing mentions former names Glatfelter Corp and GLATFELTER P H CO, with name change dates of 20200930 and 19920703 respectively, indicating a history of name changes prior to the current Magnera Corp.
What is Magnera Corp's Standard Industrial Classification (SIC) code?
Magnera Corp's SIC code is 2621, which corresponds to PAPER MILLS.
What is the business address of Magnera Corp?
Magnera Corp's business address is 9335 Harris Corners Pkwy, Suite 300, Charlotte, NC 28269.
Filing Stats: 1,104 words · 4 min read · ~4 pages · Grade level 12.8 · Accepted 2024-12-20 16:01:37
Key Financial Figures
- $0.01 — e on which registered Common Stock, $0.01 par value per share MAGN New York S
- $1,000,000 — ent Agreement, Mr. Begle is entitled to $1,000,000 in annual base salary and a target annu
- $4,600,000 — ual long-term incentive grants equal to $4,600,000 and a one-time special award equal to $
- $1,500,000 — 0 and a one-time special award equal to $1,500,000 under the Magnera Corporation 2024 Omni
Filing Documents
- tm2431679d1_8k.htm (8-K) — 39KB
- tm2431679d1_ex10-1.htm (EX-10.1) — 119KB
- tm2431679d1_ex10-2.htm (EX-10.2) — 97KB
- tm2431679d1_ex10-3.htm (EX-10.3) — 39KB
- 0001104659-24-130796.txt ( ) — 575KB
- glt-20241216.xsd (EX-101.SCH) — 3KB
- glt-20241216_def.xml (EX-101.DEF) — 26KB
- glt-20241216_lab.xml (EX-101.LAB) — 36KB
- glt-20241216_pre.xml (EX-101.PRE) — 25KB
- tm2431679d1_8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Number Description 10.1 Employment Agreement, dated as of December 20, 2024, by and between Magnera Corporation and Curtis L. Begle 10.2 Magnera Corporation Executive Severance Plan 10.3 Form of Performance Share Award Agreement 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. Magnera Corporation December 20, 2024 By: /s/ Jill L. Urey Name: Jill L. Urey Title: Executive Vice President, General Counsel and Corporate Secretary