RB Global Inc. Files 8-K on Officer Changes and Compensation
Ticker: RBA · Form: 8-K · Filed: Aug 28, 2024 · CIK: 1046102
| Field | Detail |
|---|---|
| Company | Rb Global Inc. (RBA) |
| Form Type | 8-K |
| Filed Date | Aug 28, 2024 |
| Risk Level | low |
| Pages | 6 |
| Reading Time | 7 min |
| Key Dollar Amounts | $650,000, $1,625,000, $1,000,000, $500,000, $120,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, compensation
TL;DR
RB Global filed an 8-K detailing exec changes & comp. Watch for governance shifts.
AI Summary
RB Global, Inc. filed an 8-K on August 28, 2024, reporting changes related to its directors and officers, including elections and appointments, as well as details on compensatory arrangements for certain officers. The filing also includes financial statements and exhibits.
Why It Matters
This filing provides insight into the corporate governance and executive compensation structure of RB Global, Inc., which can influence investor confidence and strategic direction.
Risk Assessment
Risk Level: low — The filing is routine corporate disclosure and does not indicate any immediate financial distress or significant operational changes.
Key Players & Entities
- RB Global, Inc. (company) — Registrant
- August 28, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made regarding directors or officers?
The filing indicates updates concerning the election of directors and the appointment of certain officers, along with details on their compensatory arrangements.
What is the purpose of the financial statements and exhibits included in this filing?
The financial statements and exhibits are filed as part of the 8-K report, likely to provide supporting documentation for the reported events.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this filing occurred on August 28, 2024.
What is RB Global, Inc.'s former name?
RB Global, Inc.'s former name was Ritchie Bros. Auctioneers Inc.
What is the fiscal year end for RB Global, Inc.?
RB Global, Inc.'s fiscal year ends on December 31.
Filing Stats: 1,845 words · 7 min read · ~6 pages · Grade level 11.3 · Accepted 2024-08-28 08:52:22
Key Financial Figures
- $650,000 — ed to: (i) an annual base salary of USD $650,000; (ii) an annual bonus opportunity (an "
- $1,625,000 — 2024 will have an economic value of USD $1,625,000, with the actual number of performance
- $1,000,000 — n grant having an economic value of USD $1,000,000 consisting of (i) restricted stock unit
- $500,000 — ock units with an economic value of USD $500,000 vesting in equal one-third parts in Mar
- $120,000 — e Company involving an amount exceeding $120,000. 3 Item 9.01 Financial Statements an
Filing Documents
- tm2422721d1_8k.htm (8-K) — 44KB
- tm2422721d1_ex99-1.htm (EX-99.1) — 15KB
- tm2422721d1_ex99-1img001.jpg (GRAPHIC) — 4KB
- 0001104659-24-093774.txt ( ) — 291KB
- rba-20240828.xsd (EX-101.SCH) — 4KB
- rba-20240828_def.xml (EX-101.DEF) — 26KB
- rba-20240828_lab.xml (EX-101.LAB) — 36KB
- rba-20240828_pre.xml (EX-101.PRE) — 25KB
- tm2422721d1_8k_htm.xml (XML) — 5KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 28, 2024, RB Global, Inc. (the "Company") announced the appointment of M. Steve Lewis, 49, as the Company's Chief Operations Officer effective September 3, 2024. Mr. Lewis brings with him extensive senior leadership experience in operations and supply chain management, as well as a honed approach to driving business growth through operational excellence. Before joining RB Global, Mr. Lewis was Division President at GXO Logistics from 2023 to 2024, where he was responsible for the operational processes, technological capabilities and safety standards at more than 120 distribution centers – across numerous verticals and products, including industrial, manufacturing and automotive. Mr. Lewis served as SVP, Commercial at GXO Logistics from 2021 to 2023 and as VP, Solutions & Strategy at XPO Logistics, a leading provider of freight transportation services, from 2019 to 2021. Mr. Lewis also held leadership positions at Penn Power Group, a provider of fleet services for highway equipment, transport refrigeration and power generation. Mr. Lewis is a retired U.S. Naval Officer, with over 20 years of operations and supply chain experience in the areas of product development, continuous improvement and lifecycle logistics. Mr. Lewis is a member of the Supply Chain Advisory Board at the University of Kansas. He holds an undergraduate degree from Chaminade University and a Master of Managerial Economics from the University of Oklahoma. A copy of the press release announcing Mr. Lewis's appointment is attached as Exhibit 99.1 to this report. In connection with Mr. Lewis's appointment as Chief Operations Officer, Ritchie Bros. Auctioneers (Canada) Ltd. (the "Employer") and Mr. Lewis entered into an employment agreement (the "Employment Agreement") on July 19, 2024, with a commencement date of September 3, 2024.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated August 28, 2024. 104 Cover Page Interactive Data File. 4
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. RB GLOBAL, INC. By: /s/ Ryan Welsh Ryan Welsh VP Legal & Corporate Secretary Date: August 28, 2024