secwatch.observer — SEC 8-K summary
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Issuer:     ALBANY INTERNATIONAL CORP /DE/ (AIN)
CIK:        0000819793
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0000819793-24-000045
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albany International appoints Christopher Stone as President of AEC segment, effective Aug 12
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- Christopher Stone appointed President of Albany Engineered Composites, succeeding Gregory Harwell, who no longer serves.
- Stone previously served as VP & Chief Supply Chain Officer at Lockheed Martin from 2021 to 2024.
- Initial base salary set at $500,000/year; target annual bonus at 70% of base; long-term incentive target at 60% of base.
- Sign-on RSU award of $1.8 million, vesting one-third annually over three years.
- If terminated without Cause, Stone receives 2x base salary over 24 months plus prorated bonus.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/819793/000081979324000045/0000819793-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/819793/000081979324000045/ain-20240802.htm
  HTML page:      https://secwatch.observer/filing/0000819793-24-000045

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