LKQ Corp Appoints New CFO, Joseph Doolan

TL;DR

LKQ Corp names Joseph Doolan new CFO, starting March 8th. He gets $550k salary + $1.5M in stock.

AI Summary

LKQ Corporation announced on March 4, 2024, the appointment of Joseph B. Doolan as its new Chief Financial Officer, effective March 8, 2024. Doolan will receive an annual base salary of $550,000 and will be eligible for a discretionary annual bonus. He will also receive a grant of restricted stock units valued at $1,500,000, vesting over three years.

Why It Matters

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

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $550,000 — CFO Annual Salary (Joseph Doolan's base compensation)
• $1,500,000 — CFO Stock Grant (Value of restricted stock units awarded to Joseph Doolan)

Key Players & Entities

• LKQ Corporation (company) — Registrant
• Joseph B. Doolan (person) — Appointed Chief Financial Officer
• $550,000 (dollar_amount) — Annual base salary for new CFO
• $1,500,000 (dollar_amount) — Value of restricted stock units granted to new CFO
• March 8, 2024 (date) — Effective date of CFO appointment

FAQ

Filing Documents

• lkq-20240304.htm (8-K) — 27KB
• 0001065696-24-000032.txt ( ) — 151KB
• lkq-20240304.xsd (EX-101.SCH) — 2KB
• lkq-20240304_lab.xml (EX-101.LAB) — 22KB
• lkq-20240304_pre.xml (EX-101.PRE) — 13KB
• lkq-20240304_htm.xml (XML) — 3KB

From the Filing

lkq-20240304 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): March 4, 2024 ________________________ LKQ CORPORATION (Exact name of registrant as specified in its charter) _______________________ Delaware 000-50404 36-4215970 (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.) 500 West Madison Street , Suite 2800 Chicago , Illinois 60661 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: ( 312 ) 621-1950 N/A (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 $.01 per share LKQ The Nasdaq Global Select Market 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. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. In connection with the previously scheduled March 4, 2024 meeting of the Board of Directors (the "Board") of LKQ Corporation (the "Company"), Joseph M. Holsten informed the Company of his intention to retire from his position as a member of the Board and to not stand for re-election at the Company's 2024 annual meeting of stockholders, which is expected to take place on May 7, 2024 (the "Annual Meeting"). Mr. Holsten will continue to serve as a member of the Board and on the Board's Regulatory Advisory Committee until the Annual Meeting. In recognition of Mr. Holsten's service to the Company and in order to continue to benefit from his counsel, the Board has designated Mr. Holsten as a Board observer, effective immediately following his retirement. As a Board observer, Mr. Holsten will not be a voting member of the Board and will not have fiduciary responsibilities associated with being a member of the Board; however, Mr. Holsten may attend Board and committee meetings in an advisory capacity. The decision of Mr. Holsten to retire and to not stand for re-election was not due to any disagreement with the Company regarding any matter related to its operations, policies or practices. 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. Dated: March 8, 2024 LKQ CORPORATION By: /s/ Matthew J. McKay Matthew J. McKay Senior Vice President, General Counsel and Corporate Secretary

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View this 8-K filing on SEC EDGAR