secwatch.observer — SEC 8-K summary
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Issuer:     ALBEMARLE CORP (ALB)
CIK:        0000915913
Form:       8-K
Filed at:   2023-10-26T23:59:59+00:00
Accession:  0000915913-23-000174
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Albemarle names Neal Sheorey as new CFO; Scott Tozier to become strategic advisor
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- Neal Sheorey, former Dow executive, to become EVP and CFO effective Nov 6, 2023.
- Outgoing CFO Scott Tozier transitions to advisory role through Feb 2025; compensation drops to $10k/month after Dec 31.
- Sheorey receives $600k base salary, $300k sign-on bonus, $700k RSU grant, and $1.5M 2024 long-term incentive.
- Bylaws amended to implement universal proxy rules and other technical revisions.
- Sheorey led Dow's Coatings & Performance Monomers unit with over $4 billion in sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/915913/000091591323000174/0000915913-23-000174-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/915913/000091591323000174/alb-20231023.htm
  HTML page:      https://secwatch.observer/filing/0000915913-23-000174

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