KAISER ALUMINUM CORPORATION (NASDAQ:KALU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 8.01. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers.
Amended Employment Agreement with Jack A. Hockema and Special Grant to Keith A. Harvey
On July 15, 2017, the Kaiser Aluminum Corporation (the “Company”) and Jack A. Hockema, amended and restated Mr.Hockema’s employment agreement (the “Amended Agreement”) to extend the term from December 31, 2018, through July 15, 2020. The preceding description of the Amended Agreement is a summary and is qualified in its entirety by the Amended Agreement, which is filed as Exhibit10.1 hereto and incorporated herein by reference.
The board of directors also approved the issuance, effective July 15, 2017, of 30,000 restricted stock units to Keith A. Harvey, the Company’s President and Chief Operating Officer. The restrictions on 50% of the restricted stock units granted to Mr. Harvey will lapse on July 15, 2022 or earlier if his employment terminates as a result of death or disability, his employment is terminated by the Company without cause, or in the event of a change in control of the Company.
The grant of restricted stock units was made to the Company's Amended and Restated 2016 Equity and Performance Incentive Plan (the “Equity Plan”). A copy of the Equity Plan is filed as Exhibit 10.1 to the Current Report on Form 8-K, filed by the Company on May 26, 2016.
Item 8.01. Other Events.
On July 17, 2017, Kaiser Aluminum Corporation announced that its board of directors declared a quarterly cash dividend on its common stock of $0.50 per share. The dividend will be payable on August 15, 2017 to stockholders of record as of the close of business on July 27, 2017. A copy of the press release is attached hereto as Exhibit99.1.
The information contained in the press release shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934 (“Exchange Act”), or otherwise subject to liability of that section. In addition, this information shall not be incorporated by reference into any registration statement or other document filed under the Securities Act, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in the filing.
Item 8.01. Financial Statements and Exhibits.
Employment Agreement, dated as of July 15, 2017, between the Company and Jack A. Hockema.
Press Release dated July 17, 2017.
KAISER ALUMINUM CORP ExhibitEX-10.1 2 a101-2017employmentagreeme.htm CEO EMPLOYMENT AGREEMENT Exhibit Exhibit 10.1AMENDED AND RESTATED EMPLOYMENT AGREEMENTAMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) dated as of July 15,…To view the full exhibit click
About KAISER ALUMINUM CORPORATION (NASDAQ:KALU)
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications. It operates in the Fabricated Products segment. The Company’s Fabricated Products segment produces rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications. The Company operates over 10 focused production facilities in the United States and one in Canada. The Company serves end market applications, such as aerospace and high strength products (Aero/HS products), extrusions for automotive applications (Automotive Extrusions), general engineering products (GE products) and other industrial products (Other products).