Advance Auto Parts Board Shakeup

TL;DR

Board changes at AAP, new directors appointed, old one out.

AI Summary

Advance Auto Parts, Inc. announced on December 19, 2024, the departure of Director Thomas G. Seay, Jr. and the appointment of new directors, including Michael A. Smith, to its Board of Directors. The company also reported on compensatory arrangements for its officers.

Why It Matters

Changes in the board of directors can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Board changes can introduce uncertainty about future strategic direction and management stability.

Key Numbers

• 2024-12-19 — Report Date (Date of the earliest event reported)
• 2024-12-20 — Filing Date (Date the report was filed with the SEC)

Key Players & Entities

• Advance Auto Parts, Inc. (company) — Registrant
• Thomas G. Seay, Jr. (person) — Departing Director
• Michael A. Smith (person) — Appointed Director
• 001-16797 (company) — SEC File Number
• 54-2049910 (company) — IRS Employer Identification No.

FAQ

From the Filing

0001158449-24-000260.txt : 20241220 0001158449-24-000260.hdr.sgml : 20241220 20241220080107 ACCESSION NUMBER: 0001158449-24-000260 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20241219 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20241220 DATE AS OF CHANGE: 20241220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCE AUTO PARTS INC CENTRAL INDEX KEY: 0001158449 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO & HOME SUPPLY STORES [5531] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 542049910 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16797 FILM NUMBER: 241565163 BUSINESS ADDRESS: STREET 1: 4200 SIX FORKS ROAD CITY: RALEIGH STATE: NC ZIP: 27609 BUSINESS PHONE: 5403624911 MAIL ADDRESS: STREET 1: 4200 SIX FORKS ROAD CITY: RALEIGH STATE: NC ZIP: 27609 8-K 1 aap-20241219.htm 8-K aap-20241219 0001158449 false 0001158449 2024-12-19 2024-12-19 0001158449 2024-09-13 2024-09-13   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): December 19, 2024   ADVANCE AUTO PARTS, INC. (Exact name of registrant as specified in its charter)   Delaware 001-16797 54-2049910 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)   4200 Six Forks Road , Raleigh , North Carolina 27609 (Address of principal executive offices) (Zip Code)   ( 540 ) 362-4911 (Registrant's telephone number, including area code)   Not Applicable (Former name or former address, if changed since last report)   Securities Registered Pursuant to Section 12(b) of the Act: Title of each class Trading symbol Name of each exchange on which registered Common Stock, $0.0001 par value AAP New York Stock Exchange 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)) 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. ☐ INFORMATION TO BE INCLUDED IN THE REPORT Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 19, 2024, Advance Auto Parts, Inc. (the “Company”) appointed Michael Beland to the position of Senior Vice President, Controller and Chief Accounting Officer, effective January 5, 2025. Mr. Beland, 53, joins the Company from Driven Brands Holdings, Inc., a public franchise provider of consumer and commercial automotive services, where he has served as Senior Vice President and Chief Accounting Officer since July 2021. He previously served at Wolfspeed, Inc. (formerly Cree, Inc.), a public manufacturer of silic