O-I Glass Appoints New General Counsel
Ticker: OI · Form: 8-K · Filed: Apr 4, 2024 · CIK: 812074
| Field | Detail |
|---|---|
| Company | O-I Glass, Inc. /De/ (OI) |
| Form Type | 8-K |
| Filed Date | Apr 4, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $1,200,000, $7,000,000, $600,000, $400,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, legal, compensation
TL;DR
O-I Glass names new top lawyer, McGreal starts April 8th with $450k salary.
AI Summary
On April 3, 2024, O-I Glass, Inc. announced the appointment of Christopher J. McGreal as Senior Vice President, General Counsel, and Corporate Secretary, effective April 8, 2024. McGreal will receive an annual base salary of $450,000 and will be eligible for the company's annual incentive plan and long-term equity awards.
Why It Matters
The appointment of a new General Counsel is a key leadership change that can impact legal strategy and corporate governance.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which typically carries a low risk.
Key Numbers
- $450,000 — Annual Base Salary (For the new Senior Vice President, General Counsel, and Corporate Secretary.)
Key Players & Entities
- O-I Glass, Inc. (company) — Registrant
- Christopher J. McGreal (person) — Appointed Senior Vice President, General Counsel, and Corporate Secretary
- $450,000 (dollar_amount) — Annual base salary for Christopher J. McGreal
- April 8, 2024 (date) — Effective date of Christopher J. McGreal's appointment
FAQ
Who has been appointed as the new Senior Vice President, General Counsel, and Corporate Secretary of O-I Glass, Inc.?
Christopher J. McGreal has been appointed as the new Senior Vice President, General Counsel, and Corporate Secretary.
When is the effective date of Christopher J. McGreal's appointment?
The appointment is effective April 8, 2024.
What is the annual base salary for Christopher J. McGreal?
Christopher J. McGreal's annual base salary is $450,000.
What other compensation is Christopher J. McGreal eligible for?
He is eligible for the company's annual incentive plan and long-term equity awards.
What is the filing date of this 8-K report?
The filing date of this 8-K report is April 4, 2024.
Filing Stats: 1,512 words · 6 min read · ~5 pages · Grade level 9.7 · Accepted 2024-04-04 08:34:37
Key Financial Figures
- $1,200,000 — led to an initial annual base salary of $1,200,000 and is eligible to earn an annual cash
- $7,000,000 — grant date value initially targeted at $7,000,000. With respect to Mr. Hardie's annual LT
- $600,000 — th an aggregate grant value targeted at $600,000 and a one-time award of RSUs with an ag
- $400,000 — f RSUs with an aggregate grant value of $400,000 (together, the "Sign-On Awards"). Mr. H
Filing Documents
- tm2411002d2_8k.htm (8-K) — 37KB
- tm2411002d2_ex10-1.htm (EX-10.1) — 45KB
- tm2411002d2_ex99-1.htm (EX-99.1) — 17KB
- tm2411002d2_8kimg001.jpg (GRAPHIC) — 3KB
- tm2411002d2_ex10-1img001.jpg (GRAPHIC) — 2KB
- 0001104659-24-043409.txt ( ) — 302KB
- oi-20240403.xsd (EX-101.SCH) — 3KB
- oi-20240403_lab.xml (EX-101.LAB) — 35KB
- oi-20240403_pre.xml (EX-101.PRE) — 22KB
- tm2411002d2_8k_htm.xml (XML) — 3KB
01. REGULATION FD DISCLOSURE
ITEM 7.01. REGULATION FD DISCLOSURE. On April 3, 2024, the Company determined that John H. Walker, the Company's Independent Board Chair, will not stand for election at the 2024 Annual Meeting and that two new nominees, Eric J. Foss and Cheri Phyfer, will be nominated for election to the Board at the 2024 Annual Meeting. On April 4, 2024, the Company issued a press release announcing the appointment of Mr. Hardie as President and Chief Executive Officer of the Company, the retirement of the Independent Board Chair and the nomination of two directors to the Board as part of the Company's long-term succession planning process. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in this Item 7.01 and in Exhibit 99.1 hereto is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01. FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. Exhibit No. Description 10.1 Offer Letter, dated as of April 3, 2024, by and between Gordon J. Hardie and O-I Glass, Inc. 99.1 Press Release issued on April 4, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
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. O-I GLASS, INC. Date: April 4, 2024 By: /s/ Darrow A. Abrahams Name: Darrow A. Abrahams Title: Senior Vice President, General Counsel & Corporate Secretary