---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-032873"
form_type: "8-K"
ticker: "MEI"
cik: "0000065270"
company_name: "METHODE ELECTRONICS INC"
filed_at: "2023-07-13T23:59:59+00:00"
generated_at: "2026-06-13T09:07:06.811282+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Methode Electronics discontinues Dabir Surfaces; expects $1.5–$3.5M pre-tax charge in FY2024

## Summary
- Wind-down of Dabir Surfaces, Inc. expected complete by end of fiscal 2024.
- Pre-tax cash charges of $0.5M (severance) and non-cash charges of $1.0M–$3.0M (asset impairments).
- Most costs to be recognized in first half of fiscal 2024.
- CEO Don Duda: discontinuation is the best financial path after exploring strategic options.
- Company will focus on core businesses and program launches.

## SEC filing metadata
- accession: 0000950170-23-032873
- form_type: 8-K
- ticker: MEI
- cik: 0000065270
- company_name: METHODE ELECTRONICS INC
- filed_at: 2023-07-13T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/65270/000095017023032873/0000950170-23-032873-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/65270/000095017023032873/mei-20230711.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-032873
- JSON: https://secwatch.observer/filing/0000950170-23-032873.json
- Plain text: https://secwatch.observer/filing/0000950170-23-032873.txt

## Key facts
- Restructurings & Charges
  METHODE ELECTRONICS INC announced a restructuring with charges of pre-tax cash charges of $0.5 million related to severance costs and non-cash charges of approximately $1.0 million to $3.0 million affecting Dabir Surfaces, Inc..
  - Type: restructuring
  - Charge: pre-tax cash charges of $0.5 million related to severance costs and non-cash charges of approximately $1.0 million to $3.0 million
  - Affected area: Dabir Surfaces, Inc.
  source text: On July 5, 2023, Methode Electronics, Inc. (the “Company”) made the decision to initiate the discontinuation of its Dabir Surfaces, Inc. (“Dabir”) business. The Company is executing a wind down process of the Dabir business which is expected to be completed by approximately the end of fiscal 2024 in accordance with contractual and regulatory commitments. The Company communicated this decision to affected employees on July 11, 2023. The Company currently expects to incur pre-tax cash charges of $0.5 million related to severance costs and non-cash charges of approximately $1.0 million to $3.0 million related to asset impairments, with most of these costs expected to be recognized by the end of its second quarter of fiscal 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/65270/000095017023032873/0000950170-23-032873-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.