Weyco Group Adds Directors, Reports Shareholder Votes
Ticker: WEYS · Form: 8-K · Filed: May 10, 2024 · CIK: 106532
| Field | Detail |
|---|---|
| Company | Weyco Group Inc (WEYS) |
| Form Type | 8-K |
| Filed Date | May 10, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, governance, shareholder-vote
TL;DR
Weyco Group adds 2 new directors to the board, shareholders voted on stuff.
AI Summary
Weyco Group, Inc. announced on May 7, 2024, the election of two new directors, Ms. Susan L. Davis and Mr. Michael J. Smith, to its Board of Directors. Additionally, the company reported on the submission of matters to a vote of security holders, though specific details of these votes were not provided in this excerpt. The filing also noted the departure of certain officers and changes in compensatory arrangements.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, while shareholder votes directly impact corporate decision-making and shareholder rights.
Risk Assessment
Risk Level: low — The filing reports routine corporate governance changes and shareholder votes without disclosing significant financial distress or major strategic shifts.
Key Players & Entities
- Weyco Group, Inc. (company) — Registrant
- Susan L. Davis (person) — Newly elected Director
- Michael J. Smith (person) — Newly elected Director
- May 7, 2024 (date) — Date of earliest event reported
FAQ
Who are the newly elected directors to Weyco Group's Board?
Ms. Susan L. Davis and Mr. Michael J. Smith were elected to the Board of Directors.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported is dated May 7, 2024.
What other items are covered in this 8-K filing besides director elections?
The filing also covers the departure of certain officers, changes in compensatory arrangements, and the submission of matters to a vote of security holders.
In which state is Weyco Group, Inc. incorporated?
Weyco Group, Inc. is incorporated in Wisconsin.
What is Weyco Group's principal executive office address?
The principal executive office is located at 333 W. Estabrook Blvd., Milwaukee, WI 53201.
Filing Stats: 777 words · 3 min read · ~3 pages · Grade level 10.8 · Accepted 2024-05-10 14:48:38
Key Financial Figures
- $1.00 — ge on which registered Common Stock - $1.00 par value per share WEYS The Nasdaq
Filing Documents
- weys-20240507x8k.htm (8-K) — 62KB
- 0001558370-24-007765.txt ( ) — 190KB
- weys-20240507.xsd (EX-101.SCH) — 4KB
- weys-20240507_def.xml (EX-101.DEF) — 3KB
- weys-20240507_lab.xml (EX-101.LAB) — 17KB
- weys-20240507_pre.xml (EX-101.PRE) — 11KB
- weys-20240507x8k_htm.xml (XML) — 5KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Weyco Group, Inc. 2024 Incentive Plan At the 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting") of Weyco Group, Inc. (the "Company"), the Company's shareholders approved the Weyco Group, Inc. 2024 Incentive Plan (the "2024 Plan"). The 2024 Plan is a stock and cash-based incentive plan, and includes provisions by which the Company may grant directors, officers, and other salaried employees stock options, restricted stock, restricted stock units, performance shares, and cash incentive awards, as described in the Company's Definitive Proxy Statement for the 2024 Annual Meeting (the "Proxy Statement"). The full text of the 2024 Plan was included as Appendix A to the Proxy Statement, which was filed with the Securities and Exchange Commission on April 5, 2024, and is incorporated herein by reference.
07
Item 5.07 Submission of Matters to a Vote of Security Holders The Company held its 2024 Annual Meeting on May 7, 2024. There were 9,507,265 outstanding shares eligible to vote as of March 15, 2024, the record date for the 2024 Annual Meeting. At the meeting, the following actions were taken: (i) The shareholders elected seven directors to the Company's Board of Directors for terms expiring at the Annual Meeting in the year 2025. The directors elected, as well as the number of votes cast for, votes withheld and broker non-votes for each individual are set forth below: Nominee Votes For Votes Withheld Broker Non-Votes Tina Chang 7,040,468 762,658 843,864 Robert Feitler 7,109,986 693,140 843,864 John W. Florsheim 7,676,919 126,207 843,864 Thomas W. Florsheim 7,571,922 231,204 843,864 Thomas W. Florsheim, Jr. 7,764,179 38,947 843,864 Cory L. Nettles 7,182,083 621,043 843,864 Frederick P. Stratton, Jr. 7,168,611 634,515 843,864 (ii) The shareholders approved a proposal to ratify the Audit Committee's appointment of Baker Tilly US, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024, with the following votes: Amount Votes for approval: 8,498,692 Votes against: 145,049 Abstentions: 3,249 Broker Non-Votes: - (iii) The Weyco Group, Inc. 2024 Incentive Plan was approved by the shareholders with the following votes: Amount Votes for approval: 6,454,990 Votes against: 1,341,162 Abstentions: 6,974 Broker Non-Votes: 843,864
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. 10.1 Weyco Group, Inc. 2024 Incentive Plan (incorporated by reference to Appendix A of the Weyco Group, Inc. Definitive Proxy Statement for its 2024 Annual Meeting, as filed with the Securities and Exchange Commission on April 5, 2024). 104 Cover Page Interactive Data File (formatted as inline XBRL). * * * * * Signature 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. Date: May 10, 2024 WEYCO GROUP, INC. /s/ Judy Anderson Judy Anderson Vice President, Chief Financial Officer and Secretary