Enpro Inc. Reports Executive Changes and Compensation Arrangements
Ticker: NPO · Form: 8-K · Filed: Feb 29, 2024 · CIK: 1164863
| Field | Detail |
|---|---|
| Company | Enpro INC. (NPO) |
| Form Type | 8-K |
| Filed Date | Feb 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, compensation, 8-K
TL;DR
**Enpro Inc. just dropped an 8-K about executive changes and compensation, so keep an eye on leadership and pay.**
AI Summary
Enpro Inc. filed an 8-K on February 29, 2024, reporting events from February 27, 2024. The filing primarily concerns the departure or election of directors or certain officers and compensatory arrangements for certain officers. It also includes information on financial statements and exhibits, indicating potential changes in leadership or executive compensation at the company.
Why It Matters
Changes in executive leadership and compensation can signal strategic shifts or financial health, impacting investor confidence and future company performance.
Risk Assessment
Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty, but the specific details are not provided in this excerpt to fully assess the impact.
Key Players & Entities
- Enpro Inc. (company) — Registrant
- February 27, 2024 (date) — Date of earliest event reported
- February 29, 2024 (date) — Filing date
- North Carolina (company) — State of incorporation
- 001-31225 (dollar_amount) — Commission file number
- 01-0573945 (dollar_amount) — I.R.S. Employer Identification No.
- 5605 Carnegie Boulevard , Suite 500 Charlotte , North Carolina 28209 (company) — Address of principal executive offices
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 27, 2024.
What is the exact name of the Registrant as specified in its charter?
The exact name of the Registrant is ENPRO INC.
What is the Commission file number for Enpro Inc.?
The Commission file number for Enpro Inc. is 001-31225.
What items of information are included in this 8-K filing?
This 8-K filing includes information regarding the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, and Financial Statements and Exhibits.
Where are Enpro Inc.'s principal executive offices located?
Enpro Inc.'s principal executive offices are located at 5605 Carnegie Boulevard, Suite 500, Charlotte, North Carolina 28209.
Filing Stats: 678 words · 3 min read · ~2 pages · Grade level 11.2 · Accepted 2024-02-29 14:59:28
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value NPO New York Stock Exchan
Filing Documents
- ef20022729_8k.htm (8-K) — 33KB
- ef20022729_ex10-1.htm (EX-10.1) — 13KB
- 0001140361-24-010386.txt ( ) — 184KB
- npo-20240227.xsd (EX-101.SCH) — 4KB
- npo-20240227_lab.xml (EX-101.LAB) — 21KB
- npo-20240227_pre.xml (EX-101.PRE) — 16KB
- ef20022729_8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 27, 2024, Enpro Inc. (the "Company") and J. Milton Childress II, Executive Vice President and Chief Financial Officer of the Company, entered into an Amendment to Management Continuity Agreement dated as of February 27, 2024 (the "Amendment") to amend the Management Continuity Agreement dated as of January 30, 2006 (the "Agreement") between the Company and Mr. Childress. The Agreement provides for the payment of certain sums to Mr. Childress if, within two years after a "change in control" of the Company, his employment is terminated without "cause" or he terminates his employment for "good reason" (as such terms are defined in the Agreement). The Amendment amends the Agreement to eliminate provisions providing for a tax gross-up payment to be made to Mr. Childress with respect to any excise tax due under the federal tax code as a result of the payments and benefits under the Agreement and to include, in lieu thereof, a scale-back provision consistent with the form of such agreements entered into by the Company with its officers since 2012. Such provision scales back payments under the Agreement in the event that the payments otherwise would be subject to the federal excise tax and such reduction would result in Mr. Childress retaining a larger amount on an after-tax basis. As a result of the entry into the Amendment, the Company is no longer party to any agreement providing for federal excise tax gross-up payments with respect to employment termination payments to an officer or other employee following a change in control of the Company.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Amendment to Management Continuity Agreement dated as of February 27, 2024 between Enpro Inc. and J. Milton Childress II 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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 hereunto duly authorized. Date: February 29, 2024 ENPRO INC. By: /s/ Robert S. McLean Robert S. McLean Executive Vice President, General Counsel and Secretary 3