Gardner Denver Holdings, Inc. (NYSE: GDI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 28, 2018, the Board of Directors of Gardner Denver Holdings, Inc. (the “Company”) appointed Neil D. Snyder as the Company’s Chief Financial Officer, effective January 1, 2019. Philip T. Herndon will retire from his position as the Chief Financial Officer of the Company and any affiliate of the Company, effective as of the end of the day on December 31, 2018, but he will remain an employee of the Company until his retirement later in 2019 to assist with the transition of his Chief Financial Officer role to Mr. Snyder.
Mr. Snyder, age 45, has served as the Company’s Senior Vice President of Global Finance, Business Development and Planning since August, 2018, and prior to that as Senior Vice President of Strategy, Business Development and Planning since January 2017. Mr. Snyder joined the Company in March 2016 as Vice President of Strategy & Planning, Industrials segment. Prior to joining the Company, Mr. Snyder served as Vice President, Head of Financial Planning and Analysis from June 2012 to January 2016 and President, Europe, Middle East and Africa from September 2013 to May 2014 for Capital Safety Inc., a producer of fall safety equipment. Previously, Mr. Snyder held various executive roles of increasing responsibility at United Technologies Corporation from 2007 to 2012 and began his career at Ernst & Young LLP in public accounting. Mr. Snyder holds a Bachelor of Science in Accounting from the University of Southern California and a Master of Business Administration from the Kellogg School of Management at Northwestern University and is a certified public accountant.
In connection with Mr. Snyder’s appointment as the Company’s Chief Financial Officer, the Company approved the following compensation terms for him, effective as of January 1, 2019: (1) an annual base salary of $425,000; (2) an annual bonus opportunity with a target amount equal to 65% of his base salary, with the actual bonus amount based upon achievement of performance targets established by the Compensation Committee of the Company’s Board of Directors; and (3) a long-term equity incentive award for 2019 with a target value of $725,000.
The selection of Mr. Snyder to serve as the Company’s Chief Financial Officer was not to any arrangement or understanding between him and any other person. There are no family relationships between Mr. Snyder and any director or executive officer of the Company, and there are no transactions between Mr. Snyder and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
| Item 7.01 |
Regulation FD Disclosure. |
On November 28, 2018, the Company issued a press release announcing the appointment of Mr. Snyder as the Company’s Chief Financial Officer, effective January 1, 2019. A copy of this press release is being furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
The information in this Item 7.01 of Form 8-K and Exhibit 99.1 attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 |
Financial Statements and Exhibits. |
(d)Exhibits.
Exhibit Index
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Exhibit No. |
Description |
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Press Release issued by Gardner Denver Holdings, Inc. dated November 28, 2018 |
GARDNER DENVER HOLDINGS, INC. ExhibitEX-99.1 2 s002564x1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Gardner Denver Announces Neil Snyder as Chief Financial Officer Successor Current CFO,…To view the full exhibit click here
