Winnebago Industries, Inc. (NYSE:WGO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement.
On September 21, 2018, Winnebago Industries, Inc., Winnebago of Indiana, LLC and Grand Design RV, LLC (collectively, the “Borrowers”) entered into an amendment (the “Credit Amendment”) to the Credit Agreement dated November 8, 2016 by and among the Borrowers, the other loan parties party thereto, the Lenders party thereto, and JPMorgan Chase Bank, N.A. as Administrative Agent.
The Credit Amendment increases the commitment under the asset-based lending facility by $40.0 million. After giving effect to the Credit Amendment, the revolving commitment under the credit facility is $165.0 million.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The description in Item 1.01 of this Current Report on Form 8-K is incorporated in its entirety into this Item 2.03 by this reference.
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On September 24, 2018, Winnebago Industries, Inc. (the "Company" or "registrant") announced that current Board of Directors (the "Board") member Marti Rodamaker has decided that she will not seek re-election at the 2018 annual shareholders meeting.
(d) On September 24, 2018, the Company announced the appointment of Maria Blase to its Board effective September 24, 2018. Ms. Blase is President of the Fluid Management, Material Handling and Power Tools business of Ingersoll Rand, a world leader in creating comfortable, sustainable, and efficient environments. Ms. Blase has 25 years of experience with diverse industries including transport, buildings, services, manufacturing, pharmaceuticals and mining.
Ms. Blase will sit on the Audit and the Nominating and Governance Committees.
Ms. Blase will be compensated in accordance with the registrant’s standard compensation policies and practices for the Board, the components of which were disclosed in the registrant’s Proxy Statement for its 2017 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on October 24, 2017 and amended on October 31, 2017, in the section titled “Director Compensation”.
There are no transactions or relationships between the registrant and Ms. Blase that are reportable under Item 404(a) of Regulation S-K.
Ms. Blase is expected to stand for election to the Board at the 2018 annual shareholders meeting.
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Item 7.01 |
Regulation FD Disclosure. |
On September 24, 2018, the Company issued a news release announcing the appointment of Ms. Blase to the Board and the upcoming retirement of Ms. Rodamaker from the Board as described above under Item 5.02. A copy of the news release is furnished as Exhibit 99.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
WINNEBAGO INDUSTRIES INC ExhibitEX-99.1 2 ex9912018form8-k0924.htm EXHIBIT 99.1 Exhibit Exhibit 99.1News ReleaseContact: Steve Stuber – Investor Relations – 952-828-8461 – srstuber@wgo.net Media Contact: Sam Jefson – Public Relations Specialist – 641-585-6803 – sjefson@wgo.netWINNEBAGO INDUSTRIES APPOINTS MARIA BLASE TO BOARD OF DIRECTORSFOREST CITY,…To view the full exhibit click here
About Winnebago Industries, Inc. (NYSE:WGO)
Winnebago Industries, Inc. is a manufacturer of recreation vehicles (RVs) used primarily in leisure travel and outdoor recreation activities. The Company designs, develops, manufactures and markets motorized and towable recreation products along with supporting products and services. Its other products manufactured by the Company consist of original equipment manufacturer (OEM) parts, including extruded aluminum and other component products for other manufacturers and commercial vehicles. The Company offers products under categories, which include motorhomes, towables and other manufactured products. The Company produces all of its motorhomes in vertically integrated manufacturing facilities in Iowa and it produces all travel trailer and fifth wheel trailers in Indiana. The Company operates under the brand, Winnebago. The Company distributes its products primarily through independent dealers throughout the United States and Canada, who then retail the products to the end consumer.