AGCO Corp Announces Executive and Director Changes

Ticker: AGCO · Form: 8-K · Filed: 2024-12-06T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, board-changes, governance

TL;DR

AGCO's board and execs are shuffling; new faces and comp changes filed.

AI Summary

AGCO Corporation announced on December 5, 2024, changes in its executive team and board of directors. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory arrangements for key executives. Specific details regarding the individuals involved and the financial implications of these changes are outlined within the report.

Why It Matters

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

Risk Assessment

Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.

Key Players & Entities

FAQ

What specific items are being reported in this Form 8-K?

This Form 8-K reports on the Departure of Directors or Certain Officers, Election of Directors, Appointment of Certain Officers, and Compensatory Arrangements of Certain Officers, as well as Financial Statements and Exhibits.

What is the exact date of the earliest event reported in this filing?

The date of the earliest event reported is December 5, 2024.

Under which section of the Securities Exchange Act of 1934 is this report filed?

This Current Report is filed Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

What is AGCO Corporation's Standard Industrial Classification code?

AGCO Corporation's Standard Industrial Classification code is FARM MACHINERY & EQUIPMENT [3523].

Where are AGCO Corporation's principal executive offices located?

AGCO Corporation's principal executive offices are located at 4205 River Green Parkway, Duluth, Georgia 30096.

From the Filing

0000880266-24-000061.txt : 20241206 0000880266-24-000061.hdr.sgml : 20241206 20241206172923 ACCESSION NUMBER: 0000880266-24-000061 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20241205 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241206 DATE AS OF CHANGE: 20241206 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AGCO CORP /DE CENTRAL INDEX KEY: 0000880266 STANDARD INDUSTRIAL CLASSIFICATION: FARM MACHINERY & EQUIPMENT [3523] ORGANIZATION NAME: 06 Technology IRS NUMBER: 581960019 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12930 FILM NUMBER: 241533325 BUSINESS ADDRESS: STREET 1: 4205 RIVER GREEN PKWAY CITY: DULUTH STATE: GA ZIP: 30096 BUSINESS PHONE: 7708139200 MAIL ADDRESS: STREET 1: 4205 RIVER GREEN PARKWAY CITY: DULUTH STATE: GA ZIP: 30096 8-K 1 agco-20241205.htm 8-K agco-20241205 0000880266 false AGCO CORP /DE 0000880266 2024-12-05 2024-12-05 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 December 5, 2024 Date of Report (Date of earliest event reported) AGCO CORPORATION (Exact name of Registrant as specified in its charter) Delaware 001-12930 58-1960019 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 4205 River Green Parkway Duluth , Georgia 30096 (Address of principal executive offices, including Zip Code) 770 813-9200 (Registrant’s telephone number, including area code) 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: ☐ 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 Class Trading Symbol Name of exchange on which registered Common stock AGCO 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 December 5, 2024, the Talent and Compensation Committee of the Board of Directors of AGCO Corporation (the “Company”) approved an amendment to the Company’s Executive Non-Qualified Defined Contribution Plan (the “Plan”), which will be effective as of January 1, 2025. The amendment provides that individuals who are employed in the U.S. as Vice Presidents, Senior Vice Presidents, or a higher designation will be eligible to participate in the Plan. It also provides that participants in the Company’s Executive Nonqualified Pension Plan (“ENPP”) who are employed in the U.S. will become participants in the Plan after the ENPP is frozen on December 31, 2024. The amendment sets

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