secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2024-04-08T23:59:59+00:00
Accession:  0000950170-24-042613
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode Electronics CFO Ronald Tsoumas to retire July 12, 2024; interim CFO planned
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- CFO Ronald Tsoumas to retire effective July 12, 2024; search for permanent successor underway with executive search firm.
- Company intends to appoint David Rawden of AlixPartners as interim CFO until a permanent successor is hired.
- CEO Avi Avula entered a severance agreement providing 2x base salary plus target bonus on termination without cause.
- Avula's relocation reimbursement cap increased from $200,000 to $400,000 under amended offer letter.
- Tsoumas will receive $12,000/month consulting fee for 6 months post-retirement to assist transition; equity awards pro-rated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017024042613/0000950170-24-042613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017024042613/mei-20240408.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-042613

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