secwatch.observer — SEC 8-K summary
======================================

Issuer:     PATRICK INDUSTRIES INC (PATK)
CIK:        0000076605
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0000076605-23-000005
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Todd Cleveland transitions from Executive Chairman to Chairman at Patrick Industries
--------------------------------------------------------------------------------

- Todd Cleveland appointed Chairman effective Jan 1, 2023; prior Executive Chairman role and 2021 letter agreement terminated.
- Chairman receives annual cash retainer of $310,000 plus $90,000 non-executive director cash retainer.
- Equity grant of $125,000 (prorated) for non-executive directors on same schedule as others.
- Will receive a prorated portion of the $125,000 equity grant issued to non-executive directors on May 12, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/76605/000007660523000005/0000076605-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/76605/000007660523000005/patk-20230101.htm
  HTML page:      https://secwatch.observer/filing/0000076605-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer