Valmont Industries Appoints New CFO, Announces Compensation
Ticker: VMI · Form: 8-K · Filed: Oct 28, 2024 · CIK: 102729
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: VMI
TL;DR
Valmont names Mark Runkel new CFO, starting Nov 4th with $475k salary + $1M stock grant.
AI Summary
Valmont Industries, Inc. announced on October 27, 2024, the appointment of Mark J. Runkel as Senior Vice President and Chief Financial Officer, effective November 4, 2024. Runkel will receive an annual base salary of $475,000 and is eligible for a discretionary annual bonus. He will also be granted restricted stock units valued at $1,000,000, vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The disclosed compensation provides insight into how the company values this key executive role.
Risk Assessment
Risk Level: low — This filing primarily concerns executive appointments and compensation, which are routine corporate events and do not present immediate financial risks.
Key Numbers
- $475,000 — CFO Annual Base Salary (Represents the guaranteed cash compensation for the new Chief Financial Officer.)
- $1,000,000 — CFO Stock Grant Value (Indicates the long-term incentive awarded to the new CFO, tied to company performance and vesting over time.)
Key Players & Entities
- Valmont Industries, Inc. (company) — Registrant
- Mark J. Runkel (person) — Appointed Senior Vice President and Chief Financial Officer
- $475,000 (dollar_amount) — Annual base salary for new CFO
- $1,000,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- November 4, 2024 (date) — Effective date for new CFO appointment
FAQ
What is Mark J. Runkel's new role at Valmont Industries?
Mark J. Runkel has been appointed as Senior Vice President and Chief Financial Officer.
When does Mark J. Runkel's appointment become effective?
His appointment is effective November 4, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Mark J. Runkel is $475,000.
What is the value of the restricted stock units granted to the new CFO?
The restricted stock units granted to Mark J. Runkel are valued at $1,000,000.
Over what period do the new CFO's restricted stock units vest?
The restricted stock units vest over a three-year period.
Filing Stats: 562 words · 2 min read · ~2 pages · Grade level 9.6 · Accepted 2024-10-28 08:27:36
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value VMI New York Stock Exchan
- $95,000 — rector, she receives a cash retainer of $95,000 per annum. Non-employee directors also
- $145,000 — restricted stock units with a value of $145,000. The equity grant is made annually on t
- $750,000 — a non-employee director may not exceed $750,000 in a calendar year. The company's pre
Filing Documents
- vmi-20241027x8k.htm (8-K) — 39KB
- vmi-20241027xex99d1.htm (EX-99.1) — 13KB
- vmi-20241027xex99d1001.jpg (GRAPHIC) — 15KB
- vmi-20241027xex99d1002.jpg (GRAPHIC) — 32KB
- 0000102729-24-000050.txt ( ) — 236KB
- vmi-20241027.xsd (EX-101.SCH) — 3KB
- vmi-20241027_lab.xml (EX-101.LAB) — 15KB
- vmi-20241027_pre.xml (EX-101.PRE) — 10KB
- vmi-20241027x8k_htm.xml (XML) — 5KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 99.1 Exhibit No. Description 99.1 Press Release dated October 28, 2024 104 Cover Page Interactive File (the cover page XBRL tags are embedded in the Inline XBRL document)
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. Valmont Industries, Inc. Date: October 28, 2024 By: /s/ TIMOTHY P. FRANCIS Name: Timothy P. Francis Title: Chief Accounting Officer