MILLER INDUSTRIES, INC. (NYSE:MLR) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition. |
On March 15, 2017, Miller Industries, Inc. (the Company)
issued a press release (the Earnings Release) announcing
its financial results for the quarter and year ended December 31,
2016. A copy of the Earnings Release is furnished as Exhibit 99.1
to this Form 8-K.
Item 5.02Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
On March 14, 2017, the Board of Directors of the Company (the
Board) approved Amendment No. 1 (the Amendment) to
the Companys 2013 Non-Employee Director Stock Plan (the
Plan). The Amendment amends the formula for determining
the number of shares granted annually to eligible non-employee
directors under the Plan. The new formula determines the number
of shares of common stock awarded by dividing $50,000 by the
closing price of a share of the Companys common stock on the last
preceding date on which sales of the Companys common stock were
reported. The Plan otherwise remains unchanged, and the total
number of shares of the Companys common stock that may be issued
under the Plan remains 100,000 shares. The description of the
Amendment in this Current Report on Form 8-K is a summary and is
qualified in its entirety by the terms of the Amendment attached
as Exhibit 10.1 to this Current Report on Form 8-K and
incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit No. | Exhibit Description | |
| 10.1 |
Amendment No. 1, dated March 14, 2017, to Miller Industries, Inc. 2013 Non-Employee Director Stock Plan |
|
| 99.1 |
Press Release of Miller Industries, Inc. dated March 15, 2017 announcing its financial results for the quarter and year ended December 31, 2016 |
About MILLER INDUSTRIES, INC. (NYSE:MLR)
Miller Industries, Inc. is a manufacturer of towing and recovery equipment. The Company manufactures the bodies of wreckers and car carriers, which are installed on truck chassis manufactured by third parties. The Company purchases truck chassis for resale to its customers. The Company also manufactures vehicle transport trailers. The Company’s products are sold through independent distributors that serve approximately 50 states, Canada and Mexico, and other foreign markets, including Europe, the Pacific Rim, the Middle East, South America and Africa, and through prime contractors to governmental entities. The Company’s products are offered under various brands, including Century, Vulcan, Challenger, Holmes, Champion, Chevron, Eagle, Titan, Jige and Boniface. The Company’s wreckers are used to recover and tow disabled vehicles and other equipment, and range in type from the conventional tow truck to large recovery vehicles with approximately 70-ton lifting capacities. MILLER INDUSTRIES, INC. (NYSE:MLR) Recent Trading Information
MILLER INDUSTRIES, INC. (NYSE:MLR) closed its last trading session up +0.05 at 23.80 with 12,865 shares trading hands.
