RBC Bearings Files Proxy Statement for Annual Meeting
Ticker: RBC · Form: DEF 14A · Filed: Jul 26, 2024 · CIK: 1324948
| Field | Detail |
|---|---|
| Company | Rbc Bearings Inc (RBC) |
| Form Type | DEF 14A |
| Filed Date | Jul 26, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $7.8 billion, $1,560.3 m, $209.9 m, $482.1 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: proxy-statement, governance, executive-compensation
TL;DR
RBC Bearings DEF 14A filed. Vote on directors & exec pay for Sept 5 meeting.
AI Summary
RBC Bearings Inc. filed its definitive proxy statement (DEF 14A) on July 26, 2024, for its annual meeting on September 5, 2024. The filing outlines the company's governance and executive compensation details for the fiscal year ending April 2, 2024. Shareholders will vote on matters including the election of directors and executive compensation.
Why It Matters
This filing provides shareholders with crucial information to make informed voting decisions on company leadership and executive pay, impacting the company's strategic direction and financial performance.
Risk Assessment
Risk Level: low — This is a routine proxy filing providing information to shareholders and does not contain new material financial events.
Key Players & Entities
- RBC Bearings Inc. (company) — Registrant
- 0001140361-24-034358 (dollar_amount) — Accession Number
- 20240726 (dollar_amount) — Filing Date
- 20240905 (dollar_amount) — Annual Meeting Date
FAQ
What is the purpose of this DEF 14A filing?
The purpose of this DEF 14A filing is to provide shareholders with information regarding the company's annual meeting, including the election of directors and executive compensation, to enable informed voting.
When is the scheduled date for RBC Bearings Inc.'s annual meeting?
The annual meeting for RBC Bearings Inc. is scheduled for September 5, 2024.
Who is the filer of this proxy statement?
The filer of this proxy statement is RBC Bearings Incorporated, the Registrant.
What is the fiscal year end for RBC Bearings Inc. as indicated in the filing?
The fiscal year end for RBC Bearings Inc. is April 2.
What is the SEC file number for this filing?
The SEC file number for this filing is 001-40840.
Filing Stats: 4,726 words · 19 min read · ~16 pages · Grade level 12.8 · Accepted 2024-07-26 14:17:07
Key Financial Figures
- $7.8 billion — ce 2005 and is now traded on the NYSE. $7.8 billion Market Capitalization (as of July 1,
- $1,560.3 m — EBITDA. In fiscal 2024 Net sales were $1,560.3 million, a 6.2% increase over fiscal 2023
- $209.9 m — 41.2% for fiscal 2023 Net income was $209.9 million, a 25.9% increase over fiscal 202
- $482.1 m — over fiscal 2023 Adjusted EBITDA was $482.1 million, an 11.1% increase over fiscal 20
Filing Documents
- ny20031841x2_def14a.htm (DEF 14A) — 1515KB
- logo_rbc.jpg (GRAPHIC) — 24KB
- logo_rbcfooter.jpg (GRAPHIC) — 7KB
- ny20031841x1_tick.jpg (GRAPHIC) — 6KB
- ny20031841x2_graph02a.jpg (GRAPHIC) — 80KB
- ny20031841x2_graph02b.jpg (GRAPHIC) — 69KB
- ny20031841x2_graph03.jpg (GRAPHIC) — 148KB
- ny20031841x2_graph04a.jpg (GRAPHIC) — 149KB
- ny20031841x2_graph04b.jpg (GRAPHIC) — 142KB
- ny20031841x2_graph05a.jpg (GRAPHIC) — 141KB
- ny20031841x2_graph05b.jpg (GRAPHIC) — 135KB
- ny20031841x2_graph06.jpg (GRAPHIC) — 138KB
- ny20031841x2_graph1.jpg (GRAPHIC) — 171KB
- ny20031841x2_pc1.jpg (GRAPHIC) — 660KB
- ny20031841x2_pc2.jpg (GRAPHIC) — 701KB
- ny20031841x2_piechart01.jpg (GRAPHIC) — 71KB
- sig_michaelhartnett.jpg (GRAPHIC) — 18KB
- 0001140361-24-034358.txt ( ) — 9459KB
- rbc-20240905.xsd (EX-101.SCH) — 7KB
- rbc-20240905_def.xml (EX-101.DEF) — 8KB
- rbc-20240905_lab.xml (EX-101.LAB) — 18KB
- rbc-20240905_pre.xml (EX-101.PRE) — 7KB
- ny20031841x2_def14a_htm.xml (XML) — 435KB
Executive Compensation
Executive Compensation 32 Compensation Program Components and Pay Outcomes for Fiscal 2024 32 Benefits and Perquisites 37 Employment Agreements and Change-in-Control and Severance Arrangements 38 Compensation Tables 40 Pay Versus Performance 44 Equity Incentive Plans 50 CEO Pay Ratio 51 Principal Accountant Fees and Services 52 Audit Committee Report 52 Stockholder Proposals and Director Nominations 53 Additional Information 54 Appendix A 55 Appendix B 56 2024 Proxy Statement 03 TABLE OF CONTENTS Proxy Statement for 2024 Annual Meeting of Stockholders The Board of Directors (the "Board") of RBC Bearings Incorporated (the "Company") is soliciting proxies from our stockholders to be used at the annual meeting of stockholders to be held on Thursday, September 5, 2024, beginning at 9:00 a.m., local time, in Building B at our principal executive offices, located at One Tribology Center, 102 Willenbrock Road, Oxford, Connecticut 06478, and at any postponements or adjournments thereof. This proxy statement, a proxy card and the Company's Annual Report on Form 10-K for fiscal 2024 are being mailed, or made available via the internet as described below, to stockholders on or about July 26, 2024. Our fiscal years end on the Saturday closest to March 31 each year. Fiscal 2024 ended on March 30, 2024 and fiscal 2025 will end on March 29, 2025. As used in this proxy statement, the terms "we," "us," "our," "RBC" and "the Company" mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. The Company is furnishing proxy materials to stockholders via the internet. If you received a Notice of Internet Availability of Proxy Materials (the "Notice") by mail, you will not receive a printed copy of the proxy materials unless you specifically request one. The Notice instructs you on how to access and review all of the important information contained in this proxy statement and our annual report