SUPREME INDUSTRIES,INC. (NYSEMKT:STS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

SUPREME INDUSTRIES,INC. (NYSEMKT:STS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors and Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

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On January 3, 2017, Supreme Industries, Inc. (“Supreme”) and its wholly-owned subsidiary, Supreme Corporation (collectively, with Supreme, the “Companies”), amended the employment agreement (“Employment Agreement”) of its Chief Financial Officer, Mr. Matthew W. Long, dated to be effective as of May 6, 2016.

The term of the Employment Agreement is from May 6, 2016, to May 5, 2019, with automatic renewal for successive one (1) year periods thereafter unless either party provides notice of non-renewal at least 90 days prior to the end of the term then in effect. Mr. Long will receive a monthly base salary of $22,916.67 and a car allowance of $1,150 per month. For each year during his term of employment, Mr. Long will receive a grant of equity having an aggregate fair market value on the date of the grant up to 60% of his annual base salary on the date of grant with such grant vesting equally over three (3) years. For each year during the term of his employment, he will be eligible to receive an annual bonus opportunity of up to 42% of his base salary, as then in effect, based on achieving performance goals. Mr. Long will be eligible to receive additional benefits under Supreme’s Ownership Transaction Incentive Plan, at the sole discretion of the Board of Directors. If Mr. Long is terminated by the Companies other than for “cause” as defined in the Employment Agreement or Mr. Long terminates his employment for “good reason” as defined in the Employment Agreement, provided that Mr. Long timely executes and returns (and does not revoke) a release agreement in a form and substance reasonably requested by the Companies, he will receive monthly installments equal to twelve (12) months’ base salary for the year of termination plus a prorated bonus for the year of termination payable at the same time as bonuses would otherwise be payable under Supreme’s Annual Bonus Plan (subject to achievement of applicable performance goals), payment of a portion of up to 12 months of premiums for COBRA continuation coverage, and outplacement benefits, at the Company’s expense, for a period of up to 12 months. The foregoing description is qualified in its entirety by reference to the Employment Agreement, a copy of which is being filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

10.1 Employment Agreement by and among Supreme Industries, Inc., Supreme Corporation, and Matthew W. Long dated to be effective May 6, 2016.



About SUPREME INDUSTRIES, INC. (NYSEMKT:STS)

Supreme Industries, Inc. (Supreme) is a manufacturer of specialized vehicles, including truck bodies, trolleys and specialty vehicles. The Company operates through two segments, which include specialized commercial vehicles and fiberglass products. The Company manufactures specialized commercial vehicles that are attached to a truck chassis. The Company’s truck bodies are offered in aluminum, FiberPanel PW, FiberPanel HC, or SignaturePlate. The Company’s products include Signature van bodies, Iner-City cutaway van bodies, Spartan service bodies, Spartan cargo vans, Kold King insulated van bodies, stake bodies, armored sport utility vehicles (SUVs), armored trucks and specialty vehicles, and trolleys. Its products are attached to light-duty truck chassis and medium-duty truck chassis. Supreme integrates a range of options into its truck bodies, including liftgates, cargo-handling equipment, customized doors, special bumpers, ladder racks and refrigeration equipment.

SUPREME INDUSTRIES, INC. (NYSEMKT:STS) Recent Trading Information

SUPREME INDUSTRIES, INC. (NYSEMKT:STS) closed its last trading session up +0.26 at 16.94 with 334,999 shares trading hands.

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