STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP) Files An 8-K Results of Operations and Financial Condition
Item 2.02.
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Results of Operations and Financial Condition.
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issued a press release announcing its financial results for the
three months and year ended December 31, 2016. A copy of such
press release is furnished as Exhibit 99.1 hereto.
release furnished as Exhibit 99.1 hereto, shall not be deemed
filed for purposes of Section 18 of the Securities Exchange Act
of 1934 or otherwise subject to the liabilities of that section,
nor shall it be deemed incorporated by reference in any filing
under the Securities Act of 1933 or the Securities Exchange Act
of 1934, except as shall be expressly set forth by specific
reference in such filing.
| Item 5.02. |
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
and Corporate Governance Committee, the Board of Directors of the
Company increased the size of the Board from ten directors to
eleven and appointed Mr. Patrick S. McClymont as a new director
to the Board. Mr. McClymont will serve until the next election of
directors at the Companys 2017 annual meeting of stockholders.
Mr. McClymont has joined the Companys Board as an independent
director, and will serve as a member of the Audit Committee,
Compensation and Management Development Committee, Nominating and
Corporate Governance Committee, and Strategic Planning Committee.
There is no arrangement or understanding between Mr. McClymont
and any other person to which Mr. McClymont was appointed as a
director of the Company. There are no transactions that are
required to be disclosed to Item 404(a) of Regulation S-K in
connection with the appointment of Mr. McClymont to the Board.
plans available to the Companys other independent directors,
including the Standard Motor Products, Inc. 2016 Omnibus
Incentive Plan (the Plan). In connection with his appointment,
Mr. McClymont will receive a restricted stock award under the
Plan for 250 shares of the Companys common stock, and an award of
the Companys common stock valued at $13,750, representing, on a
pro rata basis, the equity grants and awards paid by the Company
to our other independent directors in 2016.
announcing the appointment of Mr. McClymont as a new director. A
copy of such press release is furnished as Exhibit 99.2 hereto.
| Item 8.01. |
Other Events.
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announcing that its Board of Directors has authorized the
purchase of up to $20 million of its common stock under a stock
repurchase program. Stock will be purchased from time to time, in
the open market or through private transactions, as market
conditions warrant. A copy of such press release is furnished as
Exhibit 99.3 hereto.
| Item 9.01. |
Financial Statements and Exhibits.
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| (d) |
Exhibits.
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| 99.1 |
Press release dated February 16, 2017 announcing
Standard Motor Products, Inc.s financial results for the three months and year ended December 31, 2016. |
| 99.2 |
Press release dated February 16, 2017 announcing the
appointment of Patrick S. McClymont as a new director to the Board of Directors of Standard Motor Products, Inc. |
| 99.3 |
Press Release dated February 16, 2017 announcing
authorization to purchase common stock under a new stock repurchase program. |
About STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP)
Standard Motor Products, Inc. is a manufacturer and distributor of replacement parts for motor vehicles in the automotive aftermarket industry with a focus on heavy duty, industrial equipment and the original equipment service market. The Company operates through two segments: Engine Management Segment and Temperature Control Segment. The Engine Management Segment manufactures and remanufactures ignition and emission parts, ignition wires, battery cables, fuel system parts and sensors for vehicle systems. The Temperature Control Segment manufactures and remanufactures air conditioning compressors, air conditioning and heating parts, engine cooling system parts, power window accessories and windshield washer system parts. The Company sells its products to warehouse distributors, large retail chains, original equipment manufacturers and original equipment service part operations in the United States, Canada, Latin America and Europe. STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP) Recent Trading Information
STANDARD MOTOR PRODUCTS, INC. (NYSE:SMP) closed its last trading session down -0.53 at 49.97 with 106,953 shares trading hands.