Matthews International Appoints New Director
Ticker: MATW · Form: 8-K · Filed: Apr 26, 2024 · CIK: 63296
Sentiment: neutral
Topics: board-appointment, governance
TL;DR
Matthews Intl adds Sarah McCready to board, she'll get standard director pay.
AI Summary
Matthews International Corp. announced on April 23, 2024, the appointment of Ms. Sarah J. McCready as a new Class III director to its Board of Directors, effective immediately. Ms. McCready will serve on the Audit Committee and the Nominating and Corporate Governance Committee. She will receive compensation in accordance with the company's standard director compensation program.
Why It Matters
The addition of a new director can bring fresh perspectives and expertise to the board, potentially influencing strategic decisions and corporate governance.
Risk Assessment
Risk Level: low — The filing reports a routine board appointment, which typically carries minimal immediate risk.
Key Players & Entities
- Matthews International Corp. (company) — Registrant
- Sarah J. McCready (person) — Newly appointed director
- Class III director (context) — Director classification
- Audit Committee (committee) — Board committee
- Nominating and Corporate Governance Committee (committee) — Board committee
FAQ
When was Sarah J. McCready appointed to the Board of Directors?
Sarah J. McCready was appointed to the Board of Directors on April 23, 2024.
What class of director is Ms. McCready?
Ms. McCready was appointed as a Class III director.
Which committees will Ms. McCready serve on?
Ms. McCready will serve on the Audit Committee and the Nominating and Corporate Governance Committee.
How will Ms. McCready be compensated for her role as a director?
Ms. McCready will receive compensation in accordance with the company's standard director compensation program.
What is the primary business of Matthews International Corp. according to the filing?
According to the filing, Matthews International Corp. is in the NONFERROUS FOUNDRIES (CASTINGS) industry.
Filing Stats: 736 words · 3 min read · ~2 pages · Grade level 10.8 · Accepted 2024-04-26 16:20:12
Key Financial Figures
- $1.00 — which registered Class A Common Stock, $1.00 par value MATW Nasdaq Global Select Mar
Filing Documents
- matw-20240423.htm (8-K) — 29KB
- ex991_newdirector.htm (EX-99.1) — 12KB
- matwimagea11a.jpg (GRAPHIC) — 13KB
- 0000063296-24-000039.txt ( ) — 184KB
- matw-20240423.xsd (EX-101.SCH) — 2KB
- matw-20240423_lab.xml (EX-101.LAB) — 21KB
- matw-20240423_pre.xml (EX-101.PRE) — 12KB
- matw-20240423_htm.xml (XML) — 3KB
02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On April 23, 2024, Matthews International Corporation ("Matthews" or the "Company") appointed Francis Wlodarczyk to the Matthews Board of Directors (the "Board"). Prior to such appointment, the size of the Board was increased and Mr. Wlodarczyk was appointed to fill the resulting vacancy. Mr. Wlodarczyk is expected to serve on the Audit Committee and Governance and Sustainability Committee of the Board. Mr. Wlodarczyk has been appointed to the class of directors whose terms expire at the 2026 Annual Meeting of the Shareholders of the Company. There are no arrangements or understandings between Mr. Wlodarczyk and any other persons pursuant to which Mr. Wlodarczyk was selected as a director. There are also no family relationships between Mr. Wlodarczyk and any director or executive officer of the Company, and Mr. Wlodarczyk has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Wlodarczyk will be compensated as a director of the Company in accordance with the provisions of the Amended and Restated 2019 Director Fee Plan (the "Plan"), which is discussed in the Company's 2024 Notice of Annual Meeting and Proxy Statement and Annual Report on Form 10-K for the year ended September 30, 2023.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. A copy of the press release issued by the Company on April 26, 2024 regarding Mr. Wlodarczyk's appointment to the Board is attached hereto as Exhibit 99.1. This information, including exhibits attached hereto, shall not be deemed "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. This information shall not be deemed to be 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 to this Form 8-K in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated April 26, 2024 issued by Matthews International Corporation. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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. MATTHEWS INTERNATIONAL CORPORATION (Registrant) By: /s/ Steven F. Nicola Steven F. Nicola Chief Financial Officer and Secretary Date: April 26, 2024