Trimas Corp Appoints New CFO, Details Compensation
Ticker: TRS · Form: 8-K · Filed: Mar 20, 2024 · CIK: 842633
| Field | Detail |
|---|---|
| Company | Trimas Corp (TRS) |
| Form Type | 8-K |
| Filed Date | Mar 20, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
TL;DR
Trimas Corp names Steven Giampetroni new CFO, paying him $375k base + stock + bonus.
AI Summary
On March 18, 2024, Trimas Corporation announced the appointment of Steven J. Giampetroni as its new Chief Financial Officer, effective March 20, 2024. Giampetroni will receive an annual base salary of $375,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 restricted stock units, vesting over three years, and will receive a $50,000 signing bonus.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The disclosed compensation package provides insight into the company's valuation of key executive talent.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and compensation details, posing minimal immediate risk.
Key Numbers
- $375,000 — CFO Annual Base Salary (Represents the guaranteed cash compensation for the new Chief Financial Officer.)
- 100,000 — Restricted Stock Units (Equity award to incentivize the new CFO, vesting over three years.)
- $50,000 — CFO Signing Bonus (One-time payment to the new Chief Financial Officer upon commencement of employment.)
Key Players & Entities
- Trimas Corporation (company) — Registrant
- Steven J. Giampetroni (person) — Newly appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- March 18, 2024 (date) — Date of report
- March 20, 2024 (date) — Effective date of CFO appointment
- 100,000 (dollar_amount) — Number of restricted stock units granted to CFO
- $50,000 (dollar_amount) — Signing bonus for new CFO
FAQ
What is Steven J. Giampetroni's annual base salary as the new CFO?
Steven J. Giampetroni's annual base salary as the new Chief Financial Officer is $375,000.
When is Steven J. Giampetroni's appointment as CFO effective?
Steven J. Giampetroni's appointment as Chief Financial Officer is effective March 20, 2024.
How many restricted stock units will the new CFO receive?
The new CFO, Steven J. Giampetroni, will be granted 100,000 restricted stock units.
What is the vesting schedule for the CFO's restricted stock units?
The 100,000 restricted stock units granted to the new CFO will vest over three years.
Will the new CFO receive a signing bonus?
Yes, Steven J. Giampetroni will receive a $50,000 signing bonus.
Filing Stats: 570 words · 2 min read · ~2 pages · Grade level 10.8 · Accepted 2024-03-20 12:33:33
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value TRS The NASDAQ Stock Market L
Filing Documents
- trs-20240318.htm (8-K) — 29KB
- 0000842633-24-000049.txt ( ) — 153KB
- trs-20240318.xsd (EX-101.SCH) — 2KB
- trs-20240318_lab.xml (EX-101.LAB) — 22KB
- trs-20240318_pre.xml (EX-101.PRE) — 13KB
- trs-20240318_htm.xml (XML) — 3KB
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. TRIMAS CORPORATION Date: March 20, 2024 By: /s/ Jodi F. Robin Name: Jodi F. Robin Title: General Counsel and Secretary