secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCE AUTO PARTS INC (AAP)
CIK:        0001158449
Form:       8-K
Filed at:   2024-12-20T23:59:59+00:00
Accession:  0001158449-24-000260
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Advance Auto Parts appoints Michael Beland as Chief Accounting Officer, effective Jan 5, 2025
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- Michael Beland appointed SVP, Controller & CAO, effective January 5, 2025.
- Compensation: $400K base salary, 65% bonus target, $200K signing bonus (repayable if resigns within 2 years).
- Initial equity grant of ~$410K in RSUs vesting over 3 years; annual equity expected ~$350K.
- Loyalty agreement: severance of 1x base+bonus, outplacement up to $12K, medical benefits for 52 weeks, 1-year non-compete.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1158449/000115844924000260/0001158449-24-000260-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1158449/000115844924000260/aap-20241219.htm
  HTML page:      https://secwatch.observer/filing/0001158449-24-000260

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