Methode Electronics Reports Director Changes and Compensation Details
Ticker: MEI · Form: 8-K · Filed: Aug 28, 2024 · CIK: 65270
| Field | Detail |
|---|---|
| Company | Methode Electronics Inc (MEI) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.50, $600,000, $1,000,000, $390,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Board shakeup at Methode Electronics: Moran out, Johnson & Glick in, plus exec comp updates.
AI Summary
On August 28, 2024, Methode Electronics, Inc. filed an 8-K report detailing the departure of Director John D. Moran and the election of new directors, including David M. Johnson and David J. R. Glick. The filing also addresses compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Director departures and new appointments, along with changes in compensatory arrangements, can introduce uncertainty regarding future strategic direction and executive leadership.
Key Players & Entities
- Methode Electronics, Inc. (company) — Registrant
- John D. Moran (person) — Departing Director
- David M. Johnson (person) — Elected Director
- David J. R. Glick (person) — Elected Director
- August 28, 2024 (date) — Report Date
FAQ
Who has departed from Methode Electronics' board of directors?
John D. Moran has departed from the board of directors.
Who has been elected as new directors to Methode Electronics' board?
David M. Johnson and David J. R. Glick have been elected as new directors.
What is the exact date of this 8-K filing?
The filing date is August 28, 2024.
What are the main items covered in this 8-K filing?
The filing covers the departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers.
What is Methode Electronics' principal executive office address?
The principal executive office is located at 8750 West Bryn Mawr Avenue, Suite 1000, Chicago, Illinois 60631-3518.
Filing Stats: 1,303 words · 5 min read · ~4 pages · Grade level 14 · Accepted 2024-08-28 17:00:10
Key Financial Figures
- $0.50 — nge on which registered Common Stock, $0.50 Par Value MEI New York Stock Exchan
- $600,000 — lowing compensation: a base salary of $600,000 annually; eligibility for an annual b
- $1,000,000 — ong-term incentive plan award valued at $1,000,000 , beginning with fiscal 2025, 50% of wh
- $390,000 — ard date, and (b) cash in the amount of $390,000 in order to compensate Ms. Kowalchik fo
Filing Documents
- mei-20240828.htm (8-K) — 50KB
- mei-ex10_1.htm (EX-10.1) — 50KB
- 0000950170-24-101451.txt ( ) — 220KB
- mei-20240828.xsd (EX-101.SCH) — 23KB
- mei-20240828_htm.xml (XML) — 4KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. d) Exhibits: Exhibit Number Description 10.1 Offer Letter dated August 27, 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 thereunto duly authorized. Methode Electronics, Inc. Date: August 28, 2024 By: /s/ David Rawden David Rawden Interim Chief Financial Officer