secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0000918541-23-000126
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NN Inc. appoints Tim French as COO with base salary of $594K CAD and inducement equity grants
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- Tim French appointed SVP and COO effective August 10, 2023; reports to CEO Harold Bevis.
- Annual base salary of $594,000 CAD; one-time signing bonus of $37,000 CAD; target annual incentive of 50% of salary.
- Received inducement equity: 330,000 time-vesting RSUs (5-year ratable vest) and 560,000 performance-vesting PSUs tied to stock price milestones starting at $4.00.
- No further equity grants expected until 2028; PSUs cap at $11.00 stock price over five-year performance period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000126/0000918541-23-000126-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000091854123000126/nnbr-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000918541-23-000126

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