Albany International announces secondary offering of 1.57M Class A shares by Standish Family; two directors to resign

ALBANY INTERNATIONAL CORP /DE/

Secondary offering of 1,566,644 Class A shares by Standish Family Holdings and J.S. Standish Company; no shares sold by Albany.
Standish Family agrees to convert all Class B shares to Class A after offering and bear offering costs.
Christine L. Standish and Lee C. Wortham to resign from board and committees effective after offering completion.
Standish Family held ~34.5% voting power as of July 28; offering reduces their stake.
J.P. Morgan Securities LLC is sole underwriter; net proceeds go entirely to selling stockholders.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Christine L. Standish

Director

AIN · ALBANY INTERNATIONAL CORP /DE/

Filed: August 5, 2021, 7:59 PM ET

On August 5, 2021, the Standish Directors notified the Board of their decision to resign as members of the Board and all committees of the Board, effective upon completion of the Offering. Following their resignations, until further action by the Board, the number of directors of the Company shall be seven. Christine L. Standish serves on the Governance Committee of the Board, and Lee C. Wortham serves on the Compensation Committee of the Board.

Departed

Lee C. Wortham

Director

AIN · ALBANY INTERNATIONAL CORP /DE/

Filed: August 5, 2021, 7:59 PM ET

On August 5, 2021, the Standish Directors notified the Board of their decision to resign as members of the Board and all committees of the Board, effective upon completion of the Offering. Following their resignations, until further action by the Board, the number of directors of the Company shall be seven. Christine L. Standish serves on the Governance Committee of the Board, and Lee C. Wortham serves on the Compensation Committee of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Christine L. Standish resigned as Director at ALBANY INTERNATIONAL CORP /DE/.

Action: resigned
Role: Director

Exact text from the filing

On August 5, 2021, the Standish Directors notified the Board of their decision to resign as members of the Board and all committees of the Board, effective upon completion of the Offering. Following their resignations, until further action by the Board, the number of directors of the Company shall be seven. Christine L. Standish serves on the Governance Committee of the Board, and Lee C. Wortham serves on the Compensation Committee of the Board.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Lee C. Wortham resigned as Director at ALBANY INTERNATIONAL CORP /DE/.

Action: resigned
Role: Director

Exact text from the filing

On August 5, 2021, the Standish Directors notified the Board of their decision to resign as members of the Board and all committees of the Board, effective upon completion of the Offering. Following their resignations, until further action by the Board, the number of directors of the Company shall be seven. Christine L. Standish serves on the Governance Committee of the Board, and Lee C. Wortham serves on the Compensation Committee of the Board.

View on SEC.gov

ALBANY INTERNATIONAL CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001140361-21-027163

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