Methode Electronics Inc. filed SEC Form 8-K: Leadership Update, Other Events, Financial Statements and Exhibits

$MEI
Electrical Products
Technology
Get the next $MEI alert in real time by email
8-K
false000006527000000652702025-01-292025-01-29

 

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): January 29, 2025

 

 

METHODE ELECTRONICS, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-33731

36-2090085

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

8750 West Bryn Mawr Avenue

 

Chicago, Illinois

 

60631-3518

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (708) 867-6777

 

 

 

(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:

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

Common Stock, $0.50 Par Value

 

MEI

 

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 January 30, 2025, Methode Electronics, Inc. (“Methode” or the “Company”) announced that Andrea J. Barry, Chief Administrative Officer and Chief Human Resources Officer of the Company, will step down from those positions effective January 31, 2025. Ms. Barry will remain an employee of the Company through May 3, 2025 (the “Separation Date”) as a special advisor to the Company’s General Counsel. In connection with her separation from the Company, the Company and Ms. Barry have entered into a Separation Agreement dated as of January 29, 2025 (the “Separation Agreement”).

Subject to the terms and conditions of the Separation Agreement, following the Separation Date, Ms. Barry will be entitled to six months of severance pay in the total amount of $283,500‎, less applicable withholding taxes and deductions, as well as COBRA premiums for twelve months following the separation. Under the terms of her September 2023 Retention Award Agreement (described in the Company’s Current Report on Form 8-K filed September 18, 2023), Ms. Barry will also be entitled to a cash payment of $750,000 at the time of her separation. She will remain eligible for any vesting under the Restricted Stock Unit Award Agreement dated July 25, 2024 (described in the Company’s Current Report on Form 8-K filed July 29, 2024), the 2020 Long-Term Performance-Based Award Agreement effective as of September 27, 2020 and the 2020 Long-Term Time-Based Award Agreement effective as of September 27, 2020 (each of which is described in more detail in the Company’s Proxy Statements on Schedule 14A)‎ in accordance with the terms of the applicable agreements. The Separation Agreement includes standard releases and cooperation covenants.

The foregoing is a summary description of certain terms of the Separation Agreement and does not purport to be complete, and it is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.

Item 8.01 Other Events

On January 30, 2025, the Company announced the hiring of Karen Keegans as Chief Human Resources Officer, effective February 3, 2025. A copy of the press release announcing Ms. Keegans’ hiring is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits

d)
Exhibits:

Exhibit

Number

 

Description

10.1

 

Separation Agreement between Methode Electronics, Inc. and Andrea J. Barry

99.1

 

Press Release dated January 30, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 


 

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 thereunto duly authorized.

 

 

 

Methode Electronics, Inc.

 

 

 

 

Date:

January 30, 2025

By:

/s/ Laura Kowalchik

 

 

 

Laura Kowalchik
Chief Financial Officer

 

 


Get the next $MEI alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$MEI

DatePrice TargetRatingAnalyst
4/9/2024$12.00Hold
Jefferies
3/7/2024$17.00Buy → Neutral
Sidoti
11/22/2022$52.00Buy
Jefferies
1/20/2022Mkt Perform
Barrington Research
More analyst ratings

$MEI
Press Releases

Fastest customizable press release news feed in the world

See more
  • Methode Electronics to Release Third Quarter Fiscal 2025 Results on Wednesday, March 5, 2025

    CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, announced it will release its third quarter fiscal 2025 results for the period ended February 1, 2025, on Wednesday, March 5, 2025, after market close. The company will conduct a conference call and webcast the following day, Thursday, March 6, 2025, at 10:00 a.m. CST to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik. To participate in the conference call, please dial 888-506-

    $MEI
    Electrical Products
    Technology
  • Methode Electronics Appoints Karen Keegans as Chief Human Resources Officer

    CHICAGO, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that Karen Keegans has been appointed as Chief Human Resources Officer (CHRO) effective February 3, 2025. Ms. Keegans succeeds Andrea Barry, who has served as CHRO since 2017. Ms. Keegans joins Methode with more than 30 years of leadership experience, serving in the capacity of CHRO for several global industrial organizations, including Fortune 500 companies, such as Rockwell Automation, Pentair, and Praxair. She will be based at the company's headquarters in Chicago, Ill

    $MEI
    Electrical Products
    Technology
  • Methode Electronics' Board Approves Dividend

    CHICAGO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on January 31, 2025, to common stockholders of record at the close of business on January 17, 2025. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products fo

    $MEI
    Electrical Products
    Technology

$MEI
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$MEI
Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

See more

$MEI
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$MEI
SEC Filings

See more

$MEI
Leadership Updates

Live Leadership Updates

See more
  • Methode Electronics Appoints Karen Keegans as Chief Human Resources Officer

    CHICAGO, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that Karen Keegans has been appointed as Chief Human Resources Officer (CHRO) effective February 3, 2025. Ms. Keegans succeeds Andrea Barry, who has served as CHRO since 2017. Ms. Keegans joins Methode with more than 30 years of leadership experience, serving in the capacity of CHRO for several global industrial organizations, including Fortune 500 companies, such as Rockwell Automation, Pentair, and Praxair. She will be based at the company's headquarters in Chicago, Ill

    $MEI
    Electrical Products
    Technology
  • Methode Electronics Appoints Lars Ullrich as Senior Vice President, Global Automotive Business

    CHICAGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Lars Ullrich has been appointed as Senior Vice President, Global Automotive Business, effective December 2, 2024. The newly created position will oversee all global strategic, launch, and commercial activities for the company's automotive business. Mr. Ullrich most recently held the position of Head of Region Americas and Chief Business Officer for Larsen and Toubro Semiconductor Technologies, a semiconductor start-up company. He has over 20 years of busine

    $MEI
    Electrical Products
    Technology
  • Methode Electronics Appoints Laura Kowalchik as Chief Financial Officer

    CHICAGO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Laura Kowalchik has been appointed Chief Financial Officer (CFO), effective October 1, 2024. Ms. Kowalchik succeeds David Rawden, a director at AlixPartners LLP, who has served as interim CFO since July 12, 2024. Ms. Kowalchik, currently the CFO of Communication & Power Industries (CPI), is a seasoned financial executive with more than 25 years of experience in strategic, management, and financial roles at public and private companies in the automotive and

    $MEI
    Electrical Products
    Technology

$MEI
Financials

Live finance-specific insights

See more
  • Methode Electronics to Release Third Quarter Fiscal 2025 Results on Wednesday, March 5, 2025

    CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting system and power distribution applications, announced it will release its third quarter fiscal 2025 results for the period ended February 1, 2025, on Wednesday, March 5, 2025, after market close. The company will conduct a conference call and webcast the following day, Thursday, March 6, 2025, at 10:00 a.m. CST to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik. To participate in the conference call, please dial 888-506-

    $MEI
    Electrical Products
    Technology
  • Methode Electronics' Board Approves Dividend

    CHICAGO, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on January 31, 2025, to common stockholders of record at the close of business on January 17, 2025. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products fo

    $MEI
    Electrical Products
    Technology
  • Methode Electronics to Announce Second Quarter Fiscal 2025 Results on Thursday, December 5, 2024

    CHICAGO, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2025 results for the period ended November 2, 2024, on Thursday, December 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik, at 10:00 a.m. CST. To participate in the conference call, please dial 888-506-0062

    $MEI
    Electrical Products
    Technology

$MEI
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more