Miller Industries Inc. Files Definitive Proxy Statement

TL;DR

<b>Miller Industries, Inc. has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023, detailing executive compensation and related matters.</b>

AI Summary

MILLER INDUSTRIES INC /TN/ (MLR) filed a Proxy Statement (DEF 14A) with the SEC on April 26, 2024. Miller Industries, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 26, 2024. The filing pertains to the fiscal year ending December 31, 2023. The company's principal executive offices are located at 8503 Hilltop Dr, Ste 100, Ooltewah, TN 37363. The filing includes information related to executive compensation and equity awards for PEO and Non-PEO NEO members. Key dates for executive compensation data include 2023-01-01 to 2023-12-31 and 2022-01-01 to 2022-12-31.

Why It Matters

For investors and stakeholders tracking MILLER INDUSTRIES INC /TN/, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation, equity awards, and other governance matters, enabling informed voting decisions at the upcoming shareholder meeting. As a DEF 14A filing, it represents the final proxy materials distributed to shareholders, indicating the company is proceeding with its annual meeting and associated proposals.

Risk Assessment

Risk Level: low — MILLER INDUSTRIES INC /TN/ shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not contain immediate financial performance data or significant strategic shifts, indicating a low level of immediate risk.

Analyst Insight

Review the executive compensation details and any shareholder proposals within the proxy statement to understand potential impacts on corporate governance and shareholder value.

Executive Compensation

Key Numbers

• 2023-12-31 — Fiscal Year End (Miller Industries Inc.)
• 2024-04-26 — Filing Date (DEF 14A)
• 2023-01-01 to 2023-12-31 — Compensation Period (PEO and Non-PEO NEO members)
• 2022-01-01 to 2022-12-31 — Compensation Period (PEO and Non-PEO NEO members)

Key Players & Entities

• MILLER INDUSTRIES INC /TN/ (company) — Registrant name
• William G. Miller II (person) — Executive compensation data
• Jeffrey I. Badgley (person) — Executive compensation data
• 8503 Hilltop Dr (company) — Business address
• Ooltewah, TN 37363 (company) — Business address
• 2023-12-31 (date) — Fiscal year end
• 2024-04-26 (date) — Filing date
• DEF 14A (filing_type) — Form type

FAQ

Key Dates

• 2024-04-26: Filing Date — Definitive Proxy Statement (DEF 14A) filed.
• 2023-12-31: Fiscal Year End — Period covered by the proxy statement's financial and compensation data.

Key Financial Figures

• $0.01 — holders of the Company's common stock, $0.01 par value per share (the "Common Stock"

Filing Documents

• mlr-20240621xdef14a.htm (DEF 14A) — 1155KB
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• mlr-20240621xdef14a_bg001.jpg (GRAPHIC) — 192KB
• mlr-20240621xdef14a_bg002.jpg (GRAPHIC) — 147KB
• 0001558370-24-005894.txt (&nbsp;) — 3329KB
• mlr-20240621.xsd (EX-101.SCH) — 6KB
• mlr-20240621_def.xml (EX-101.DEF) — 30KB
• mlr-20240621_lab.xml (EX-101.LAB) — 11KB
• mlr-20240621_pre.xml (EX-101.PRE) — 8KB
• mlr-20240621xdef14a_htm.xml (XML) — 137KB

Executive Compensation Objectives and Philosophy

Executive Compensation Objectives and Philosophy 28 Role of Compensation Consultant 29 Elements of Compensation for Executive Officers 30 Pay Governance Practices 30 Base Salary 31 2023 Executive Annual Bonus Program 31 2023 Executive Chairman Annual Bonus Program 33 Other Compensation and Benefits 33 Our Compensation Process 33 Compensation Peer Group 33 Role of Management 34 3 Table of Contents PROXY STATEMENT TABLE OF CONTENTS Stock Ownership Guidelines 34 Change in Control Provisions 34 Clawback Policy 35 Employment and Severance Agreements 35 Compensation Related Risk Assessment 35 Tax Considerations 35 Report of the Compensation Committee 36 Compensation Committee Interlocks and Insider Participation 37

Executive Compensation Tables

Executive Compensation Tables 38 2023 Summary Compensation Table 38 Outstanding Equity Awards at Fiscal Year-End 2023 39 Stock Vested in Fiscal Year 2023 39 Equity Compensation Plan Information 40 Potential Payment upon Termination of Change in Control 40 CEO Pay Ratio 41 Pay Versus Performance 42

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 46 PROPOSAL 3 Ratification of Independent Public Accounting Firm 48 Report of the Audit Committee 49 Independent Registered Public Accountant's Fees and Services 50 Policy Regarding the Approval of Independent Registered Public Accountant 50 Voting Information 51 Notice Regarding the Availability of Proxy Materials 51 Shareholders Entitled to Vote 51 Quorum for the Annual Meeting 51 Shares Registered to Vote 51 Shares Held in Street Name 51 Revoking a Proxy or Voting Instructions 51 Other Business 52 Other Information 53 Proxy Solicitation Costs 53 Annual Report 53 Deadline for Shareholder Proposals for 2025 Annual Meeting 53 4 | 2024 PROXY STATEMENT Table of Contents PROXY STATEMENT Proxy Summary PROXY STATEMENT FOR ANNUAL MEETING OF SHAREHOLDERS TO BE HELD June 21, 2024 PROXY SUMMARY This proxy statement is being furnished in connection with the solicitation of proxies by the Board of Directors (the "Board" or the "Board of Directors") of Miller Industries, Inc. (the "Company" or "Miller Industries") for use at the Company's 2024 annual meeting of shareholders (the "Annual Meeting") to be held at the Hilton Garden Inn Hotel, 879 College Drive, Dalton, Georgia 30720, on Friday, June 21, 2024, at 9:00 a.m. (Eastern Time), and any adjournments or postponements thereof. It is anticipated that this proxy statement and the accompanying proxy card will first be mailed to shareholders on or about May 13, 2024. Only holders of the Company's common stock, $0.01 par value per share (the "Common Stock"), at the close of business on May 6, 2024 (the "Record Date"), are entitled to notice of and to vote at the Annual Meeting. Once the Record Date has passed, the Company intends to supplement this proxy statement with the number of shares of Common Stock issued and outstanding at the close of business on the Record Date, which shares will be entitled

View Full Filing

View this DEF 14A filing on SEC EDGAR