secwatch.observer — SEC 8-K summary
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Issuer:     GATX CORP (GATX)
CIK:        0000040211
Form:       8-K
Filed at:   2022-02-02T23:59:59+00:00
Accession:  0000040211-22-000012
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GATX announces CEO succession: Lyons to become CEO on April 22, 2022; Kenney to remain non-executive Chairman
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- Robert C. Lyons appointed CEO and President effective April 22, 2022, succeeding Brian A. Kenney who becomes non-executive Chairman until Oct 31, 2022.
- Lyons' base salary increased to $800,000 from $597,100; target bonus raised to 100% of base salary; LTI target increased to $3,000,000 from $950,000.
- CFO Thomas A. Ellman granted 3,960 restricted stock units (value $400,000) as Leadership Recognition Award; vesting 25% on first anniversary, 75% on third.
- Ellman entered into a non-compete/non-solicitation agreement covering 12 months post-employment (or until Jan 28, 2026) unless termination without cause or for good reason.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/40211/000004021122000012/0000040211-22-000012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/40211/000004021122000012/gatx-20220128.htm
  HTML page:      https://secwatch.observer/filing/0000040211-22-000012

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