Steven L. Berman to step down as Executive Chairman, become Non-Executive Chairman effective April 1, 2023

Dorman Products, Inc.

Berman transitions from Executive Chairman to Non-Executive Chairman on April 1, 2023; employment agreement not renewed.
He will receive $420,000 annual base salary for three years plus $150,000 annual cash bonus on each March 15 during that period.
Unvested equity awards continue to vest and vested options remain exercisable as long as Berman serves on the board.
Berman will not receive non-employee director compensation until later of vesting date or April 1, 2026.
Transition and release agreement includes general release of claims and restrictive covenants.

item 5.02 item 9.01

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Role change

Steven L. Berman

Non-Executive Chairman

DORM · Dorman Products, Inc.

Effective: 2023-04-01
Filed: February 24, 2023, 6:59 PM ET

Steven L. Berman will step down from his role as Executive Chairman and be appointed to serve as Non-Executive Chairman of the Board effective April 1, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Steven L. Berman was appointed as Non-Executive Chairman at Dorman Products, Inc..

Action: appointed
Role: Non-Executive Chairman

Exact text from the filing

Steven L. Berman will step down from his role as Executive Chairman and be appointed to serve as Non-Executive Chairman of the Board effective April 1, 2023

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Dorman Products, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-047497

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