Mativ Holdings Appoints New CFO, Kevin Krumm
Ticker: MATV · Form: 8-K · Filed: Jun 10, 2024 · CIK: 1000623
| Field | Detail |
|---|---|
| Company | Mativ Holdings, INC. (MATV) |
| Form Type | 8-K |
| Filed Date | Jun 10, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.10 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
Mativ Holdings names Kevin Krumm as new CFO, starting June 10th. Big stock grant incoming.
AI Summary
Mativ Holdings, Inc. announced on June 6, 2024, the appointment of Kevin M. Krumm as Chief Financial Officer, effective June 10, 2024. Krumm will receive an annual base salary of $425,000 and a target annual bonus of 75% of his base salary. He will also be granted restricted stock units valued at $1,000,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $425,000 — CFO Annual Base Salary (Represents the guaranteed cash compensation for the new Chief Financial Officer.)
- $1,000,000 — CFO Stock Grant Value (Indicates the significant equity incentive provided to the new CFO to align interests with shareholders.)
Key Players & Entities
- Mativ Holdings, Inc. (company) — Registrant
- Kevin M. Krumm (person) — Appointed Chief Financial Officer
- $425,000 (dollar_amount) — Annual base salary for new CFO
- 75% (dollar_amount) — Target annual bonus percentage for new CFO
- $1,000,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- June 6, 2024 (date) — Date of report
- June 10, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Mativ Holdings, Inc.?
Kevin M. Krumm has been appointed as the new Chief Financial Officer of Mativ Holdings, Inc.
When is Kevin M. Krumm's appointment as CFO effective?
Kevin M. Krumm's appointment as CFO is effective June 10, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Kevin M. Krumm is $425,000.
What is the target annual bonus for the new CFO?
The target annual bonus for Kevin M. Krumm is 75% of his base salary.
What is the value of the restricted stock units granted to the new CFO?
The restricted stock units granted to Kevin M. Krumm are valued at $1,000,000.
Filing Stats: 1,072 words · 4 min read · ~4 pages · Grade level 12.2 · Accepted 2024-06-10 17:17:54
Key Financial Figures
- $0.10 — nge on which registered Common Stock, $0.10 par value MATV New York Stock Excha
Filing Documents
- d804091d8k.htm (8-K) — 29KB
- 0001193125-24-158448.txt ( ) — 149KB
- matv-20240606.xsd (EX-101.SCH) — 3KB
- matv-20240606_lab.xml (EX-101.LAB) — 18KB
- matv-20240606_pre.xml (EX-101.PRE) — 11KB
- d804091d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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. MATIV HOLDINGS, INC. (Registrant) By: /s/ Greg Weitzel Greg Weitzel Executive Vice President and Chief Financial Officer Dated: June 10, 2024 2