Valmont Industries Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On October 27, 2024, the board of directors of Valmont Industries, Inc. appointed Deborah Caplan to the board and to the Human Resource Committee of the board. The size of the company's board of directors was also increased to eleven members.
As a non-employee director, she receives a cash retainer of $95,000 per annum. Non-employee directors also receive a grant of restricted stock units with a value of $145,000. The equity grant is made annually on the date of and following completion of the company's annual shareholders' meeting. The restricted stock units vest on the first anniversary of the grant date (subject to deferral by the director). The total cash compensation and the grant date fair value of equity awards for a non-employee director may not exceed $750,000 in a calendar year.
The company's press release announcing the appointment of Ms. Caplan is included with this Form 8-K as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. | Description | |
99.1 | ||
104 | Cover Page Interactive File (the cover page XBRL tags are embedded in 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 hereunto duly authorized.
Valmont Industries, Inc. | ||||
Date: | October 28, 2024 | |||
By: | /s/ TIMOTHY P. FRANCIS | |||
Name: | Timothy P. Francis | |||
Title: | Chief Accounting Officer | |||