Tennant Co. Appoints New CFO, Details Compensation

TL;DR

Tennant Co. names new CFO, Christopher Smith, starting May 20th with $425K salary + bonus + equity.

AI Summary

Tennant Company announced on May 15, 2024, the appointment of Christopher J. Smith as its new Chief Financial Officer, effective May 20, 2024. Smith will receive an annual base salary of $425,000 and will be eligible for a target annual bonus of 75% of his base salary. He will also receive a one-time sign-on bonus of $100,000 and equity awards valued at $1,000,000.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: low — This filing primarily concerns a routine executive appointment and compensation details, with no immediate financial distress or significant operational changes indicated.

Key Numbers

• $425,000 — CFO Annual Base Salary (Starting salary for Christopher J. Smith)
• 75% — CFO Target Annual Bonus (Potential bonus based on performance)
• $100,000 — CFO Sign-on Bonus (One-time payment to new CFO)
• $1,000,000 — CFO Equity Awards (Value of stock-based compensation)

Key Players & Entities

• Tennant Company (company) — Registrant
• Christopher J. Smith (person) — Appointed Chief Financial Officer
• $425,000 (dollar_amount) — Annual base salary for new CFO
• 75% (dollar_amount) — Target annual bonus percentage
• $100,000 (dollar_amount) — One-time sign-on bonus for new CFO
• $1,000,000 (dollar_amount) — Value of equity awards for new CFO
• May 15, 2024 (date) — Date of report
• May 20, 2024 (date) — Effective date of CFO appointment

FAQ

Key Financial Figures

• $0.375 — h registered Common Stock, par value $0.375 per share TNC New York Stock Exchan

Filing Documents

• tm2414514d1_8k.htm (8-K) — 25KB
• tm2414514d1_ex99.htm (EX-99) — 8KB
• tm2414514d1_ex99img001.jpg (GRAPHIC) — 12KB
• 0001104659-24-062329.txt ( ) — 220KB
• tnc-20240515.xsd (EX-101.SCH) — 3KB
• tnc-20240515_lab.xml (EX-101.LAB) — 33KB
• tnc-20240515_pre.xml (EX-101.PRE) — 22KB
• tm2414514d1_8k_htm.xml (XML) — 3KB

02. Departure of Directors or Certain Officers; Election

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 13, 2024, the Board of Directors (the "Board") of Tennant Company (the "Company") elected Mark W. Sheahan as a member of the Board effective May 15, 2024. Mr. Sheahan will stand for re-election at the 2025 Annual Meeting of Shareholders as a member of Class II, to a term that expires at the 2027 annual meeting of shareholders. Mr. Sheahan was also appointed to serve as a member of the Audit Committee and Executive Committee of the Board. A copy of the press release announcing Mr. Sheahan's election to the Board is attached as Exhibit 99. Mr. Sheahan will receive the standard non-employee director compensation, the terms of which were disclosed in the Company's Proxy pro-rata amount of the annual compensation for his service from his election until the 2025 annual meeting of shareholders.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 99 News release, dated May 15, 2024 announcing election of Mark W. Sheahan. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

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. Tennant Company Date: May 16, 2024 /s/ Kristin A. Erickson Kristin A. Erickson Senior Vice President, General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR