Mattel Files 8-K on Officer Changes and Compensation

TL;DR

Mattel's 8-K signals executive changes and compensation updates.

AI Summary

Mattel, Inc. filed an 8-K on September 13, 2024, reporting events as of September 11, 2024. The filing pertains to the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for certain officers. It also includes financial statements and exhibits.

Why It Matters

This filing indicates potential shifts in Mattel's leadership and executive compensation structure, which could impact the company's strategic direction and financial performance.

Risk Assessment

Risk Level: medium — Changes in key officers and directors, along with compensation adjustments, can signal internal shifts that may affect future company performance and strategy.

Key Players & Entities

• MATTEL INC (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• 333 Continental Boulevard (location) — Principal executive offices address
• El Segundo (location) — City of principal executive offices
• California (location) — State of principal executive offices
• September 11, 2024 (date) — Date of earliest event reported
• September 13, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $1.00 — ge on which registered Common Stock, $1.00 per share MAT The Nasdaq Global Sel
• $1.3 billion — d cost savings programs, achieving over $1.3 billion of savings Achieved an investment grad
• $1 billion — hare repurchases, including approving a $1 billion dollar share repurchase program in earl
• $15 m — Performance Grant has a target value of $15 million, with the target number of units
• $27.00 — ge of Target Performance Units Earned $27.00 0% $33.50 50% $40.00 100% 3
• $33.50 — erformance Units Earned $27.00 0% $33.50 50% $40.00 100% 3 A stock pri
• $40.00 — s Earned $27.00 0% $33.50 50% $40.00 100% 3 A stock price hurdle will

Filing Documents

• mat-20240911.htm (8-K) — 134KB
• exhibit101-formofgrantagre.htm (EX-10.1) — 101KB
• 0001628280-24-040348.txt ( ) — 400KB
• mat-20240911.xsd (EX-101.SCH) — 2KB
• mat-20240911_def.xml (EX-101.DEF) — 3KB
• mat-20240911_lab.xml (EX-101.LAB) — 24KB
• mat-20240911_pre.xml (EX-101.PRE) — 15KB
• mat-20240911_htm.xml (XML) — 3KB

02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 11, 2024, the Compensation Committee (the "Committee") of the Board of Directors of Mattel, Inc. (the "Company"), in order to incentivize retention and drive significant Company stock price performance and market outperformance, approved a one-time retention award of performance-based restricted stock units (the "Retention Performance Grant") to Ynon Kreiz, the Company's Chief Executive Officer ("CEO"), under the Company's Amended and Restated 2010 Equity and Long-Term Compensation Plan (the "Plan"), to be granted on September 30, 2024. The Retention Performance Grant is intended to incentivize Mr. Kreiz's continued leadership of the Company and execution of key growth initiatives and further align his incentive opportunity to the execution of our strategy and stockholder value creation by conditioning any vesting on the achievement of rigorous performance metrics tied to significant Company stock price performance and the Company's relative total stockholder return ("relative TSR") as compared to the companies comprising the S&P 500 as of the date of grant. In designing the Retention Performance Grant, the Committee considered Mr. Kreiz's track record of strong performance as the Company's CEO and the importance of his continued leadership at the Company. The Committee believes that Mr. Kreiz's leadership is a key factor for the Company's ongoing success and growth potential and that Mr. Kreiz has been and continues to be the driving force behind the Company's transformation to become an IP-driven toy business with an expanding entertainment offering. Highlights of Mr. Kreiz's tenure include: Strong improvement in financial results across key metrics, including revenue, gross margin, and earnings per share Significantly increased market share in the major categories Dolls and Veh

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Exhibit Description 10.1 Form of Grant Agreement for Performance-Based Restricted Stock Units for Ynon Kreiz under the Mattel, Inc. Amended and Restated 2010 Equity and Long-Term Compensation Plan 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL 5

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. MATTEL, INC. Registrant By: /s/ Jonathan Anschell Name: Jonathan Anschell Title: Executive Vice President, Chief Legal Officer, and Secretary Date: September 13, 2024