MSA Safety Inc. Amends 8-K Filing on Officer and Director Changes

TL;DR

MSA Safety filed an amendment to its 8-K, updating info on exec departures and appointments.

AI Summary

MSA Safety Incorporated filed an 8-K/A on March 5, 2024, to amend a previous filing. The amendment pertains to the departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, and Compensatory Arrangements of Certain Officers, with the date of the earliest event reported being February 28, 2024.

Why It Matters

This amendment provides updated information regarding changes in the company's leadership and executive compensation, which can impact investor confidence and strategic direction.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous report and primarily concerns administrative updates regarding officer and director changes, not significant financial events.

Key Players & Entities

• MSA Safety Inc. (company) — Registrant
• February 28, 2024 (date) — Date of earliest event reported
• March 5, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $41,258 b — crued but untaken, CHF 36,496 gross (or $41,258 based on the exchange rate at February 28
• $473,248 b — s of base salary, CHF 418,626 gross (or $473,248 based on the exchange rate at February 28
• $364,247 b — on with his separation, CHF 322,206 (or $364,247 based on the exchange rate at February 28
• $225,248 b — on with his separation, CHF 199,250 (or $225,248 based on the exchange rate at February 28

Filing Documents

• msa-20240228.htm (8-K/A) — 31KB
• msa-20240228_g1.jpg (GRAPHIC) — 8KB
• 0000066570-24-000016.txt ( ) — 173KB
• msa-20240228.xsd (EX-101.SCH) — 2KB
• msa-20240228_lab.xml (EX-101.LAB) — 21KB
• msa-20240228_pre.xml (EX-101.PRE) — 12KB
• msa-20240228_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers In a Current Report on Form 8-K filed on February 9, 2024 (the "Prior 8-K"), MSA Safety Incorporated (the "Company") previously reported the departure of Bob W. Leenen, Former Senior Vice President and President, MSA International. This Amendment to the Prior 8-K is being filed to disclose the terms of Mr. Leenen's separation from service with the Company, pursuant to a termination agreement between MSA Europe GmbH and Mr. Leenen, effective as of February 28, 2024 (the "Termination Agreement"). Under the Termination Agreement, Mr. Leenen will receive six months of garden leave during which he will, pursuant to existing contractual obligations, receive his base salary and other employee benefits. During that notice period he will receive vesting for equity awards otherwise scheduled to vest through August 31, 2024, and he remains eligible to participate in the 2023 International Management Incentive Plan, which amount will be calculated and paid out in accordance with Company policies and practices. He will also receive payment for vacation days accrued but untaken, CHF 36,496 gross (or $41,258 based on the exchange rate at February 28, 2024). Following the end of the notice period Mr. Leenen will receive, subject to his execution of a waiver and release of claims in favor of the Company and its affiliates, a payment which is equivalent to nine months of base salary, CHF 418,626 gross (or $473,248 based on the exchange rate at February 28, 2024); a payment which is the cash equivalent of 2/3 of the 2022 Performance Stock Unit grant that was forfeited in connection with his separation, CHF 322,206 (or $364,247 based on the exchange rate at February 28, 2024); and a payment which is the cash equivalent of 1/3 of the 2023 Performance Stock Unit grant that was forfeited in connection with his separation, CHF 19

View Full Filing

View this 8-K/A filing on SEC EDGAR