Hawkins, Inc. (NASDAQ:HWKN) 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 or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
P. Oldenkamp. Mr. Oldenkamp will assume the role of the companys
Chief Financial Officer, Vice President and Treasurer after the
filing of the companys Annual Report on Form 10-K, which is
expected in early June of 2017. Kathleen Pepski, the companys
current Chief Financial Officer, Vice President and Treasurer,
has previously announced her planned retirement and will remain
in the role of Chief Financial Officer until that time to
facilitate a smooth transition.
with MTS Systems Corporation, where he served as Chief Financial
Officer since January 2015. From January 2014 to January 2015,
Mr. Oldenkamp was the Vice President of Finance for the MTS Test
business. He has over twenty years of extensive financial
experience, and has held various financial leadership positions
at Nilfisk-Advance, Inc. (a global manufacturer of professional
cleaning equipment), including serving as Americas Operations
Chief Financial Officer and Vice President from January 2012 to
January 2014, and Emerson Electric, Inc. Mr. Oldenkamp holds a
Masters of Business Administration degree from the University of
Minnesota, and a Bachelor of Arts degree with a concentration in
Accounting from the University of St. Thomas.
his employment via an offer letter. Mr. Oldenkamps employment
with us will continue at-will until terminated by either the
company or Mr. Oldenkamp. His initial annual base salary will be
approximately $350,000 and he will be eligible to participate in
our executive bonus program at an initial target of 50% of base
salary. His bonus for our fiscal year ending April 1, 2018
(fiscal 2018) will be guaranteed to pay at 50% of target, or more
if the company exceeds its targeted performance.
plans according to their terms, including our Profit Sharing Plan
and Employee Stock Ownership Plan. He will also participate in
our equity incentive program with an initial target grant amount
of 65% of base salary. The nature and final terms of awards under
the program are subject to approval by the compensation committee
of our board of directors and are next expected to be determined
in June 2017. Additionally, Mr. Oldenkamp will receive a special
one-time grant of performance-based restricted stock units
representing an aggregate value of $250,000, which award will be
subject to the same terms, conditions and vesting as performance
shares that are awarded based on fiscal 2018 performance. Upon a
termination of his employment by the company, for any reason
other than cause or due to disability, the vesting of the special
one-time grant will continue on the same schedule. Mr. Oldenkamp
will be considered a covered executive under the existing
Executive Severance Plan.
was selected to serve as an officer of the company, and there are
no family relationships between Mr. Oldenkamp and any of the
companys directors or other executive officers.
Oldenkamps hiring, the text of which is furnished as Exhibit 99.1
hereto and incorporated herein by reference. The information
contained in this Item 7.01 and Exhibit 99.1 is being furnished,
and shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise subject to the liabilities under Section 18.
Furthermore, the information contained in this Item 7.01 and
Exhibit 99.1 shall not be deemed to be incorporated by reference
into our filings under the Securities Act of 1933, as amended or
the Exchange Act.
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99.1
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Press Release dated April 25, 2017.
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About Hawkins, Inc. (NASDAQ:HWKN)
Hawkins, Inc. distributes, blends and manufactures chemicals and specialty ingredients for its customers in a range of industries. The Company conducts its business in three segments: Industrial, Water Treatment, and Health and Nutrition. Its Industrial segment is engaged in providing industrial chemicals, products and services to various industries, such as agriculture, chemical processing, electronics and energy. Its Water Treatment segment is engaged in providing chemicals, equipment and solutions for potable water, municipal and industrial wastewater, industrial process water and non-residential swimming pool water. The Health and Nutrition segment is engaged in providing ingredient distribution, processing and formulation solutions to manufacturers of nutraceutical, functional food and beverage, personal care, dietary supplement and other nutritional food, and health and wellness products. Hawkins, Inc. (NASDAQ:HWKN) Recent Trading Information
Hawkins, Inc. (NASDAQ:HWKN) closed its last trading session up +2.40 at 52.00 with 27,355 shares trading hands.
