secwatch.observer — SEC 8-K summary
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Issuer:     FreightCar America, Inc. (RAIL)
CIK:        0001320854
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0000950170-23-023063
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FreightCar America appoints Nicholas J. Randall as COO effective June 26, 2023
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- Randall, 50, most recently led a division of Precision Castparts (Berkshire Hathaway) and held senior roles at Alcoa and Jaguar Land Rover.
- Base salary of $450,000; target annual bonus of 75% of base; sign-on award includes $250,000 cash and 300,000 stock options.
- LTIP target value of 125% of base salary, split 50% restricted shares (3-year cliff vest) and 50% stock options (3-year graded vest).
- Eligible for severance plan providing 12 months base salary plus average bonus and COBRA premiums upon qualifying termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320854/000095017023023063/0000950170-23-023063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320854/000095017023023063/rail-20230512.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-023063

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