CEO Michael DeCata to retire May 1; no successor named

Distribution Solutions Group, Inc.

DeCata resigns as CEO of Lawson Products Operating Company effective April 4, remains CEO of Parent until May 1.
Retirement and Consulting Agreement signed: consulting role from May 1, 2022 through May 1, 2026 at $600,000/year.
All outstanding restricted stock units will accelerate vesting as of May 1, 2022.
Company has not announced a replacement for CEO; search presumably underway.
DeCata will provide consulting services for orderly transition, up to ~350 hours/year.

item 5.02 item 9.01

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Departed

Michael G. DeCata

President and Chief Executive Officer

DSGR · Distribution Solutions Group, Inc.

Effective: 2022-05-01
Filed: April 8, 2022, 7:59 PM ET

On April 4, 2022, Mr. DeCata entered into an agreement pursuant to which he agreed to retire from his positions as President and Chief Executive Officer and as a member of the Board of Directors of Lawson Products, Inc., a Delaware corporation (“ Parent ”), on May 1, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael G. DeCata retired as President and Chief Executive Officer at Distribution Solutions Group, Inc..

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

On April 4, 2022, Mr. DeCata entered into an agreement pursuant to which he agreed to retire from his positions as President and Chief Executive Officer and as a member of the Board of Directors of Lawson Products, Inc., a Delaware corporation (“ Parent ”), on May 1, 2022.

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Distribution Solutions Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-100369

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