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Executive Change

Filed Jan 27, 2023 · 3y ago · Accession 0001437749-23-001981

Plain English

Material event — a significant development the company must disclose promptly.

Read the source below for the full document.

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 24, 2023   H.B. Fuller Company (Exact Name of Company as Specified in Charter)   Minnesota   001-09225   41-0268370 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)   1200 Willow Lake Boulevard , P.O. Box 64683 , St. Paul , Minnesota   55164-0683 (Address of principal executive offices)   (Zip Code)   Company’s telephone number, including area code: ( 651 ) 236-5900       (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(s) Name of each exchange on which registered Common Stock , par value $1.00 FUL NYSE     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 DFR 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 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. ☐     1     Item   5.02 Departure of Dir e ctors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   (e) Effective January 24, 2023, the Compensation Committee of H.B. Fuller Company (the “Company”) approved a one-time grant of time-based restricted stock units with an approximate grant date fair market value of $500,000 to Zhiwei Cai, Executive Vice President, Engineering Adhesives of the Company. The Company’s long-time President and Chief Executive Officer (CEO), James Owens, announced his resignation during late fiscal 2022. Due to this transition in CEO leadership, our Compensation Committee determined that a retention stock award for Mr. Cai was appropriate to ensure stability and continuity in a key executive role throughout this transition and to position the Company for continued success in fiscal 2023. The Compensation Committee decided to make this grant as a result of unusual circumstances that it does not expect to reoccur regularly.   The time-based restricted stock units will cliff-vest on January 24, 2025 subject to Mr. Cai remaining employed by H.B. Fuller Company in his present role until the vesting date. There are no provisions for accelerated vesting of the units upon an earlier retirement.   2     SIGNATURE   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.   Date: January 24, 2023   H.B. FULLER COMPANY By: /s/  Timothy J. Keenan Timothy J. Keenan Senior Vice President, General Counsel and Corporate Secretary   3
Filing details
Ticker
FUL
CIK
39368
Form type
8-K
Filing date
Jan 27, 2023
Report date
Jan 24, 2023
Document
ful20230124_8k.htm
Size
158 KB