Sturm Ruger Appoints New CEO and CFO

TL;DR

Ruger's CEO & CFO are out, new execs in. Big changes at the gunmaker.

AI Summary

Sturm, Ruger & Company, Inc. announced on November 25, 2024, changes in its executive team. Christopher J. Killoy has been appointed as the new Chief Executive Officer, succeeding Michael O. Fifer. Additionally, Kevin B. Tanner has been appointed as the new Chief Financial Officer, replacing Thomas R. Ragaini. These appointments are effective immediately.

Why It Matters

Changes in top leadership positions like CEO and CFO can signal shifts in company strategy, financial management, and future performance.

Risk Assessment

Risk Level: medium — Executive leadership changes can introduce uncertainty regarding future strategy and operational execution.

Key Players & Entities

• Sturm, Ruger & Company, Inc. (company) — Registrant
• Christopher J. Killoy (person) — Appointed Chief Executive Officer
• Michael O. Fifer (person) — Outgoing Chief Executive Officer
• Kevin B. Tanner (person) — Appointed Chief Financial Officer
• Thomas R. Ragaini (person) — Outgoing Chief Financial Officer
• November 25, 2024 (date) — Effective date of appointments

FAQ

Filing Documents

• tm2429341d1_8k.htm (8-K) — 34KB
• tm2429341d1_ex99-1.htm (EX-99.1) — 76KB
• tm2429341d1_ex99-2.htm (EX-99.2) — 83KB
• tm2429341d1_ex99-3.htm (EX-99.3) — 76KB
• tm2429341d1_ex99-1img01.jpg (GRAPHIC) — 6KB
• 0001104659-24-123672.txt ( ) — 500KB
• rgr-20241125.xsd (EX-101.SCH) — 3KB
• rgr-20241125_lab.xml (EX-101.LAB) — 33KB
• rgr-20241125_pre.xml (EX-101.PRE) — 22KB
• tm2429341d1_8k_htm.xml (XML) — 3KB

02 Departure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On November 25, 2024, Sturm, Ruger & Company, Inc. (the "Company") entered into Severance Agreements (each, a "Severance Agreement") with the following named executive officers of the Company that amended, restated, and replaced, in their entirety, the existing severance agreements that such named executive officers had with the Company: Thomas A. Dineen, Kevin B. Reid, Sr., and Shawn C. Leska. The Severance Agreements are not employment contracts and do not specify an employment term, compensation levels or other terms or conditions of employment. Each Severance Agreement provides for severance benefits, if, during the term of such Severance Agreement: (i) prior to the occurrence of a Change in Control (as defined therein), the Company terminates the employment of such named executive officer without Cause (as defined therein) or such named executive officer terminates his employment for Good Reason (as defined therein); or (ii) within 24 months after the effective date of a Change in Control, the Company terminates the employment of such named executive officer without Cause or such named executive officer terminates his employment for Good Reason. Each Severance Agreement provides for severance benefits consisting of the following primary components: if, prior to the occurrence of a Change in Control, the Company terminates the employment of such named executive officer without Cause or such named executive officer terminates his employment for Good Reason, (i) such named executive officer shall be entitled to a lump sum cash payment equal to 18 months of Base Annual Salary (as defined therein); (ii) the prorated portion of such named executive officer's then-outstanding Retention Restricted Stock Unit Awards and Performance Restricted Stock Unit Awards shall vest and be paid in accordance with the

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. Exhibit No . Description 99.1 Severance Agreement, dated as of November 25, 2024, by and between Sturm, Ruger & Company, Inc. and Thomas A. Dineen 99.2 Severance Agreement, dated as of November 25, 2024, by and between Sturm, Ruger & Company, Inc. and Kevin B. Reid, Sr. 99.3 Severance Agreement, dated as of November 25, 2024, by and between Sturm, Ruger & Company, Inc. and Shawn C. Leska 3

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. STURM, RUGER & COMPANY, INC. By: /S/ THOMAS A. DINEEN Name: Thomas A. Dineen Title: Principal Financial Officer, Principal Accounting Officer, Senior Vice President, Treasurer and Chief Financial Officer Dated: November 27, 2024 4

View Full Filing

View this 8-K filing on SEC EDGAR