secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0000918541-23-000086
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NN, Inc. appoints Harold Bevis as President and CEO effective May 22, 2023
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- Harold Bevis appointed President and CEO effective May 22, 2023, succeeding Warren Veltman who retires as planned.
- Annual base salary $835,000; guaranteed minimum bonus of $835,000 for 2023; no equity grants expected until 2028.
- Inducement grants: 1,500,000 time-vesting RSUs (5-yr vest) and 2,500,000 performance-vesting PSUs tied to stock price targets (starting at $2/share).
- Bevis brings 25+ years leadership; previously President & CEO of Commercial Vehicle Group (CVGI), with EV and business transformation experience.
- Transition from outgoing CEO Warren Veltman was announced on November 1, 2022 as part of planned succession.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000086/0000918541-23-000086-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000086/nnbr-20230508.htm
  HTML page:      https://secwatch.observer/filing/0000918541-23-000086

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