Hamilton Beach Brands: Director Changes & Executive Comp Update

Ticker: HBB · Form: 8-K · Filed: 2024-09-24T00:00:00.000Z

Sentiment: neutral

Topics: governance, executive-compensation, board-of-directors

TL;DR

HBB shakes up board, adjusts exec pay - watch for new director impact.

AI Summary

Hamilton Beach Brands Holding Co. announced on September 20, 2024, changes related to its board of directors and executive compensation. The filing details the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers. Specific details regarding the individuals involved and the financial implications of these arrangements are outlined within the report.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy, governance, or financial outlook, impacting investor confidence and stock performance.

Risk Assessment

Risk Level: low — This filing primarily concerns corporate governance and executive compensation, which typically have a low direct risk impact unless specific financial improprieties or significant strategic shifts are revealed.

Key Numbers

Key Players & Entities

FAQ

Who is the departing director and what is the reason for their departure?

The filing indicates the departure of a director, but specific names and reasons are detailed within the full report, not in this summary.

Who is the newly elected director?

The filing mentions the election of a new director, with their name and qualifications to be found in the complete document.

What specific changes were made to executive compensatory arrangements?

The report details updates to compensatory arrangements for certain officers, with the precise nature of these changes elaborated in the full filing.

What is the effective date of these board and compensation changes?

The earliest event reported is September 20, 2024.

Are there any financial implications disclosed regarding the executive compensation changes?

While the filing mentions compensatory arrangements, specific dollar amounts or financial impacts are detailed within the full report.

From the Filing

0001709164-24-000037.txt : 20240924 0001709164-24-000037.hdr.sgml : 20240924 20240924163012 ACCESSION NUMBER: 0001709164-24-000037 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240920 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240924 DATE AS OF CHANGE: 20240924 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Hamilton Beach Brands Holding Co CENTRAL INDEX KEY: 0001709164 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC HOUSEWARES & FANS [3634] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 311236686 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38214 FILM NUMBER: 241320505 BUSINESS ADDRESS: STREET 1: 4421 WATERFRONT DRIVE CITY: GLEN ALLEN STATE: VA ZIP: 23060 BUSINESS PHONE: 804-273-9777 MAIL ADDRESS: STREET 1: 4421 WATERFRONT DRIVE CITY: GLEN ALLEN STATE: VA ZIP: 23060 8-K 1 hbb-20240920.htm 8-K hbb-20240920 0001709164 false 0001709164 2024-09-20 2024-09-20 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): September 20, 2024 HAMILTON BEACH BRANDS HOLDING COMPANY (Exact name of registrant as specified in its charter) Delaware 001-38214 31-1236686 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 4421 WATERFRONT DR GLEN ALLEN VA 23060 (Address of principal executive offices) (Zip code) (804) 273-9777 (Registrant's telephone number, including area code) 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 Class A Common Stock, Par Value $0.01 Per Share HBB New York Stock Exchange 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. On September 20, 2024, Gregory H. Trepp, the Chief Executive Officer and a member of the Board of Directors (the “Board”) of Hamilton Beach Brands Holding Company (the “Company”), informed the Company of his intention to retire on December 31, 2024, indicating that he has decided to resign as Chief Executive O

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