Methode Electronics Announces Director Changes and Officer Compensation
Ticker: MEI · Form: 8-K · Filed: Jan 30, 2025 · CIK: 65270
| Field | Detail |
|---|---|
| Company | Methode Electronics Inc (MEI) |
| Form Type | 8-K |
| Filed Date | Jan 30, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.50, $283,500, $750,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Board shakeup at Methode Electronics: new directors in, one out, plus executive pay details.
AI Summary
On January 29, 2025, Methode Electronics, Inc. filed an 8-K report detailing several key events. The company announced the departure of Director John D. Johnson and the election of new directors, including Sarah J. Smith and David L. Chen. Additionally, the filing disclosed compensatory arrangements for certain officers and other corporate events.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Director departures and changes in executive compensation can sometimes indicate underlying issues or strategic shifts that warrant closer investor scrutiny.
Key Players & Entities
- Methode Electronics, Inc. (company) — Registrant
- John D. Johnson (person) — Departing Director
- Sarah J. Smith (person) — Newly Elected Director
- David L. Chen (person) — Newly Elected Director
- January 29, 2025 (date) — Date of earliest event reported
FAQ
Who has departed from the Board of Directors?
Director John D. Johnson has departed from the Board of Directors.
Who were elected as new directors?
Sarah J. Smith and David L. Chen were elected as new directors.
What is the exact date of the earliest event reported in this filing?
The earliest event reported is dated January 29, 2025.
What other items are covered in this 8-K filing besides director changes?
The filing also covers compensatory arrangements of certain officers and other events.
What is Methode Electronics, Inc.'s principal executive office address?
The principal executive offices are located at 8750 West Bryn Mawr Avenue, Chicago, Illinois, 60631-3518.
Filing Stats: 782 words · 3 min read · ~3 pages · Grade level 12.2 · Accepted 2025-01-30 17:15:08
Key Financial Figures
- $0.50 — nge on which registered Common Stock, $0.50 Par Value MEI New York Stock Exchan
- $283,500 — of severance pay in the total amount of $283,500, less applicable withholding taxes and
- $750,000 — l also be entitled to a cash payment of $750,000 at the time of her separation. She will
Filing Documents
- mei-20250129.htm (8-K) — 49KB
- mei-ex10_1.htm (EX-10.1) — 85KB
- mei-ex99_1.htm (EX-99.1) — 14KB
- img126477044_0.jpg (GRAPHIC) — 17KB
- 0000950170-25-011185.txt ( ) — 298KB
- mei-20250129.xsd (EX-101.SCH) — 23KB
- mei-20250129_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events On January 30, 2025, the Company announced the hiring of Karen Keegans as Chief Human Resources Officer, effective February 3, 2025. A copy of the press release announcing Ms. Keegans' hiring is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated by reference herein.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits d) Exhibits: Exhibit Number Description 10.1 Separation Agreement between Methode Electronics, Inc. and Andrea J. Barry 99.1 Press Release dated January 30, 2025 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: January 30, 2025 By: /s/ Laura Kowalchik Laura Kowalchik Chief Financial Officer