Hamilton Beach Brands Elects New Directors, Updates Exec Comp

Ticker: HBB · Form: 8-K · Filed: 2024-11-25T00:00:00.000Z

Sentiment: neutral

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

Related Tickers: HBB

TL;DR

HBB adds two directors, updates exec pay packages.

AI Summary

Hamilton Beach Brands Holding Company announced on November 21, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. Gabel and David J. Schorr, to its Board, effective immediately. Additionally, the company entered into new employment agreements with its named executive officers, including Steven L. Shaffer (President and CEO) and Gregory H. Trepp (CFO), detailing their compensation and severance packages.

Why It Matters

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

Risk Assessment

Risk Level: low — The filing reports routine corporate governance changes and executive compensation adjustments, which are common and typically do not indicate significant operational risks.

Key Players & Entities

FAQ

Who were the newly elected directors to Hamilton Beach Brands Holding Company's Board?

Michael J. Gabel and David J. Schorr were elected as new directors to the Board.

When was the earliest event reported in this 8-K filing?

The earliest event reported was on November 21, 2024.

What is the principal executive office address for Hamilton Beach Brands Holding Company?

The principal executive offices are located at 4421 Waterfront Dr, Glen Allen, VA 23060.

What type of SEC filing is this and what items does it cover?

This is a Form 8-K, covering the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.

What is the IRS Employer Identification Number for Hamilton Beach Brands Holding Company?

The IRS Employer Identification Number is 31-1236686.

From the Filing

0001709164-24-000052.txt : 20241125 0001709164-24-000052.hdr.sgml : 20241125 20241125162756 ACCESSION NUMBER: 0001709164-24-000052 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241121 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241125 DATE AS OF CHANGE: 20241125 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: 241496290 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-20241121.htm 8-K hbb-20241121 0001709164 false 0001709164 2024-11-25 2024-11-25 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): November 21, 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 November 21, 2024, Hamilton Beach Brands Holding Company (the “Company”) determined that Lawrence K. Workman, Jr., the Senior Vice President, General Counsel and Secretary of the Company, would cease serving in those roles and as an employee of the Company and its affiliates, effective immediately. SIGNATURES      Pursuant to the requirements of the Securities Exchange Act of 1934, the registr

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