secwatch.observer — SEC 8-K summary
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Issuer:     RELIANCE, INC. (RS)
CIK:        0000861884
Form:       8-K
Filed at:   2022-10-11T23:59:59+00:00
Accession:  0001104659-22-107633
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliance Steel CEO James Hoffman to retire Dec 31, 2022; Karla Lewis to become CEO Jan 1, 2023
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- James D. Hoffman to retire as CEO effective Dec 31, 2022; will serve as Senior Advisor through Dec 2023.
- Karla R. Lewis, currently President and former CFO, appointed CEO effective Jan 1, 2023, retaining President title.
- Lewis receives $1.2M base salary, annual incentive target of 150% of salary, plus equity awards determined by committee.
- Hoffman's base salary reduced to $1.1M in 2023; no equity awards, but eligible for 150% target non-equity incentive.
- Hoffman will remain on the Board of Directors after retirement as CEO.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861884/000110465922107633/0001104659-22-107633-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861884/000110465922107633/tm2227893d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-107633

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