secwatch.observer — SEC 8-K summary
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Issuer:     DANA Inc (DAN)
CIK:        0000026780
Form:       8-K
Filed at:   2024-11-25T23:59:59+00:00
Accession:  0000950142-24-002836
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dana appoints R. Bruce McDonald as Chairman & CEO, plans sale of Off-Highway business
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- Appointed R. Bruce McDonald as Chairman and CEO, effective immediately; James Kamsickas steps down as CEO.
- Plan to sell Off-Highway business; engaged Goldman Sachs and Morgan Stanley as financial advisors.
- Announced $200 million annualized cost reduction plan by 2026, including SG&A and engineering cuts.
- Reaffirmed 2024 full-year guidance: sales $10.2-10.4B, Adj. EBITDA $855-895M, FCF $90-110M.
- Mr. McDonald receives $1.3M base salary and 1,217,798 restricted stock units vesting in one year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26780/000095014224002836/0000950142-24-002836-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26780/000095014224002836/eh240561409_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950142-24-002836

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