PHINIA Reports Executive Changes and Compensation Arrangements

Ticker: PHIN · Form: 8-K · Filed: 2024-02-21T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, compensation, corporate-governance

TL;DR

**PHINIA just reported executive changes and new compensation plans, so keep an eye on leadership shifts!**

AI Summary

PHINIA INC. filed an 8-K on February 21, 2024, reporting events that occurred on February 16, 2024. The filing pertains to the departure or election of directors or certain officers, as well as compensatory arrangements for certain officers. This indicates potential changes in leadership or executive compensation structures at the company.

Why It Matters

Changes in executive leadership and compensation can signal strategic shifts or financial health, impacting investor confidence and future company performance.

Risk Assessment

Risk Level: medium — Changes in executive leadership can introduce uncertainty, but the specific details of the changes and their impact are not yet fully disclosed in this summary.

Key Players & Entities

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 16, 2024.

What is the full name of the registrant company?

The full name of the registrant company is PHINIA INC.

What items were reported in this 8-K filing?

The 8-K filing reported on the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, and Financial Statements and Exhibits.

When was this 8-K filed with the SEC?

This 8-K was filed with the SEC on February 21, 2024.

What is PHINIA INC.'s state of incorporation?

PHINIA INC.'s state of incorporation is Delaware.

From the Filing

0001140361-24-008678.txt : 20240221 0001140361-24-008678.hdr.sgml : 20240221 20240221074906 ACCESSION NUMBER: 0001140361-24-008678 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240216 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240221 DATE AS OF CHANGE: 20240221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PHINIA INC. CENTRAL INDEX KEY: 0001968915 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41708 FILM NUMBER: 24656408 BUSINESS ADDRESS: STREET 1: 3000 UNIVERSITY DRIVE CITY: AUBURN HILLS STATE: MI ZIP: 48326 BUSINESS PHONE: 947-262-8147 MAIL ADDRESS: STREET 1: 3000 UNIVERSITY DRIVE CITY: AUBURN HILLS STATE: MI ZIP: 48326 8-K 1 ef20022022_8k.htm 8-K false 0001968915 0001968915 2024-02-16 2024-02-16 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d)   of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): February 16, 2024 PHINIA INC. (Exact name of registrant as specified in its charter) Delaware 001-41708 92-2483604 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 3000 University Drive Auburn Hills , Michigan   48326 (Address of principal executive offices)   (Zip Code)   Registrant’s telephone number, including area code: ( 248 ) 732-1900   Not applicable (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share PHIN NYSE Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The Compensation Committee (the “Committee”) of the Board of Directors of PHINIA Inc. (the “Company”) approved 2024 incentive compensation for the Company’s executive officers that includes annual cash incentive compensation awards under the Management Incentive Bonus Plan (the “2024 Annual Bonus Program”) and 2024 long-term equity incentive compensation awards (the “2024 LTI Awards”). The Committee believes the 2024 incentive compensation supports the Company’s compensation philosophy and objectives,

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