CEO change: James Lines retires; Dan Thoren promoted to President and CEO effective Sept 1, 2021

GRAHAM CORP

James R. Lines to retire as CEO and Board member after 37 years; effective Aug 31, 2021.
Dan Thoren, current President & COO, appointed President and CEO effective Sept 1, 2021.
Thoren receives $400k base salary and $730k retention bonus if employed through June 1, 2023.
Bonus target raised to 100% of salary; LTI percentage raised to 100%.
Thoren previously led Barber-Nichols (acquired June 2021); owns 74.7% of ASC, leasing equipment to Graham.

item 5.02 item 7.01 item 9.01

Executive movements

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Role change

Daniel Thoren

President and Chief Executive Officer

GHM · GRAHAM CORP

Effective: 2021-08-31
Filed: August 11, 2021, 7:59 PM ET

Pursuant to the terms of the Restated Employment Agreement, Mr. Thoren will become the Company's President and Chief Executive Officer effective as of the close of business on August 31, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Daniel Thoren was appointed as President and Chief Executive Officer at GRAHAM CORP.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

Pursuant to the terms of the Restated Employment Agreement, Mr. Thoren will become the Company's President and Chief Executive Officer effective as of the close of business on August 31, 2021.

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GRAHAM CORP filing history →

Source: SEC EDGAR

accession 0001193125-21-243534

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