RPM INTERNATIONAL INC. (NYSE:RPM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On July2, 2018, Ronald A. Rice, who had been serving as President and Chief Operating Officer of RPM International Inc. (the “Company”), elected early retirement due to the Company’s decision to streamline its reporting structure. For purposes of his Amended and Restated Employment Agreement (the “Agreement”), Mr.Rice’s retirement is regarded as a termination without cause. A form of the Agreement has been filed as an exhibit to the Company’s Form 10-Q filed on April9, 2009 and is incorporated herein by reference. The Company and Mr.Rice have entered into a Separation Agreement and Release and Waiver of Claims to which Mr.Rice will receive compensation and benefit continuation substantially in accordance with the provisions of the Employment Agreement, but the Company has agreed to provide an additional 29 months of continued healthcare coverage, together with outplacement and financial planning assistance. Mr.Rice and the Company have also agreed to certain additional covenants relating to confidentiality, disclosure and non-disparagement, provision of assistance to the Company during the post-employment period, and remedies in the event of a breach.
On July6, 2018, the Company issued a press release announcing the foregoing action. A copy of the press release is furnished with this current report on Form 8-K as Exhibit 99.1.
| Item 5.02 | Financial Statements and Exhibits. |
| 99.1 | The Company’s press release, dated July6, 2018. |
RPM INTERNATIONAL INC/DE/ ExhibitEX-99.1 2 d870627dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 RPM International Streamlines Senior Leadership Structure President and COO Ronald A. Rice to Take Early Retirement MEDINA,…To view the full exhibit click here
About RPM INTERNATIONAL INC. (NYSE:RPM)
RPM International Inc., through its subsidiaries, manufactures, markets and sells various specialty chemical product lines, including specialty paints, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance of industrial, specialty and consumer markets. The Company operates through three segments: the industrial reportable segment (industrial segment), the specialty reportable segment (specialty segment) and the consumer reportable segment (consumer segment). Its family of products includes those marketed under brand names, such as API, Carboline, CAVE, DAP, Day-Glo, Dri-Eaz, Dryvit, Euclid, EUCO, Fibergrate, Flecto, Flowcrete, Grupo PV, Hummervoll, illbruck, Mohawk, Rust-Oleum, Stonhard, TCI, Toxement, Tremco, Tuf-Strand, Universal Sealants, Viapol, Watco and Zinsser. As of May 31, 2016, its subsidiaries marketed products in approximately 164 countries and territories, and operated manufacturing facilities in approximately 120 locations.
