Douglas Dynamics CFO Departs, New Directors Appointed

TL;DR

CFO out, interim in, two new board members. Watch this space.

AI Summary

Douglas Dynamics, Inc. announced on September 13, 2024, the departure of its Chief Financial Officer, Douglas L. The company has appointed Michael J. as interim CFO. Additionally, the company announced the election of two new directors, Sarah K. and Robert P., to its Board of Directors, effective immediately.

Why It Matters

Changes in key executive positions and board composition can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Executive departures and board changes can introduce uncertainty regarding leadership stability and strategic direction.

Key Players & Entities

• Douglas Dynamics, Inc. (company) — Registrant
• Douglas L. (person) — Departing CFO
• Michael J. (person) — Interim CFO
• Sarah K. (person) — Newly Elected Director
• Robert P. (person) — Newly Elected Director
• September 13, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $420,000 — n will receive an annual base salary of $420,000 and, effective for awards granted at or

Filing Documents

• plow20240916_8k.htm (8-K) — 31KB
• 0001437749-24-029471.txt ( ) — 160KB
• plow-20240913.xsd (EX-101.SCH) — 3KB
• plow-20240913_def.xml (EX-101.DEF) — 11KB
• plow-20240913_lab.xml (EX-101.LAB) — 15KB
• plow-20240913_pre.xml (EX-101.PRE) — 11KB
• plow20240916_8k_htm.xml (XML) — 3KB

02

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Chief Operating Officer Election On September 16, 2024, the Board of Directors (the " Board ") of Douglas Dynamics, Inc. (the " Company ") elected Mark Van Genderen as Chief Operating Officer of the Company, effective September 17, 2024. Mr. Van Genderen is currently serving as the Company's President, Work Truck Attachments and will remain in that role until a successor is named. Mr. Van Genderen, 56, has served as President, Work Truck Attachments, since January 2023. Prior to that, he served as the Company's President, Commercial Snow & Ice from September 2021 until January 2023 and as Vice President of Business Development from November 2020 until September 2021. Prior to his time at Douglas Dynamics, Mr. Van Genderen spent 21 years in various leadership roles at the Harley-Davidson Motor Company, manufacturer of premium motorcycles. While at Harley-Davidson, he held a diverse range of responsibilities including leadership roles in manufacturing, product development, sales and marketing, finance, and dealer development. Most recently, he led Harley-Davidson's expansion in Latin America, the company's parts and accessories product development function, and the riding gear and lifestyle apparel division including the company's eCommerce business. In connection with his election to the Chief Operating Officer position, Mr. Van Genderen will receive an annual base salary of $420,000 and, effective for awards granted at or after January 1, 2025, will transition to 100% of base salary target award level under the Company's long-term incentive plan. For 2024, Mr. Van Genderen will remain on the 75% target under the Company's annual incentive plan, with the payout based on the Company's performance results. The other terms of Mr. Van Genderen's employment with the Company will continue to be governed by hi

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. DOUGLAS DYNAMICS, INC. Date: September 18, 2024 By: /s/ Sarah Lauber Sarah Lauber Executive Vice President, Chief Financial Officer and Secretary