secwatch.observer — SEC 8-K summary
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Issuer:     ALBANY INTERNATIONAL CORP /DE/ (AIN)
CIK:        0000819793
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0000819793-23-000078
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albany International appoints Gunnar Kleveland as President and CEO, succeeding William Higgins
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- William Higgins retires as President and CEO effective Sept 1, 2023; remains on Board.
- Gunnar Kleveland appointed President and CEO and elected to Board effective same date.
- Kleveland's agreement: $900,000 base salary, target cash bonus 100%, sign-on RSUs $1.9 million.
- Gregory Harwell granted $1.5M performance share retention award; vests based on employment and performance.
- Kleveland was previously President and CEO of Textron Specialized Vehicles, with aerospace experience.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000078/0000819793-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/819793/000081979323000078/ain-20230821.htm
  HTML page:      https://secwatch.observer/filing/0000819793-23-000078

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