---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-164831"
form_type: "8-K"
ticker: "MGRC"
cik: "0000752714"
company_name: "MCGRATH RENTCORP"
filed_at: "2023-06-12T23:59:59+00:00"
generated_at: "2026-06-14T03:22:05.562389+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# McGrath RentCorp board shrinks to 7; RSU vesting modified for departing directors

## Summary
- Board reduced from 9 to 7 after directors Stradford and Smith did not stand for reelection.
- RSU award terms modified: unvested RSUs accelerate upon departure, except for cause or shareholder removal.
- Each departing director had 300 unvested RSUs fully vest upon resignation.
- Shareholders elected all seven nominees, ratified auditor, and approved say-on-pay with annual frequency.

## SEC filing metadata
- accession: 0001193125-23-164831
- form_type: 8-K
- ticker: MGRC
- cik: 0000752714
- company_name: MCGRATH RENTCORP
- filed_at: 2023-06-12T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/d470271d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-164831
- JSON: https://secwatch.observer/filing/0001193125-23-164831.json
- Plain text: https://secwatch.observer/filing/0001193125-23-164831.txt

## Key facts
- Executive change
  Dennis P. Stradford resigned as Director at MCGRATH RENTCORP.
  - Action: resigned
  - Role: Director
  source text: At the 2023 annual meeting of shareholders held on June 7, 2023 (the “Annual Meeting”), Messrs. Dennis P. Stradford and M. Richard Smith did not stand for reelection and resigned as of the Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- Executive change
  M. Richard Smith resigned as Director at MCGRATH RENTCORP.
  - Action: resigned
  - Role: Director
  source text: At the 2023 annual meeting of shareholders held on June 7, 2023 (the “Annual Meeting”), Messrs. Dennis P. Stradford and M. Richard Smith did not stand for reelection and resigned as of the Annual Meeting.
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- Shareholder Votes
  MCGRATH RENTCORP shareholders approved To approve, in a non-binding vote, the compensation of the Company’s named executive officers..
  - Proposal: say on pay
  - Outcome: passed
  source text: Proposal 3. To approve, in a non-binding vote, the compensation of the Company’s named executive officers. Votes For Votes Against Abstain Broker Non-Votes 19,280,113 525,166 137,181 1,231,906
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- Shareholder Votes
  MCGRATH RENTCORP shareholders approved To ratify the appointment of Grant Thornton LLP as the independent auditors for the Company for the year ending December 31, 2023. at the 2023-12-31 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-12-31
  source text: Proposal 2. To ratify the appointment of Grant Thornton LLP as the independent auditors for the Company for the year ending December 31, 2023. Votes For Votes Against Abstain Broker Non-Votes 20,698,270 367,748 108,348 None
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- Shareholder Votes
  MCGRATH RENTCORP shareholders voted on To recommend, in a non-binding vote, the frequency of future non-binding shareholder votes to approve the compensation of the Company’s named executive officers..
  - Proposal: say on pay frequency
  source text: Proposal 4. To recommend, in a non-binding vote, the frequency of future non-binding shareholder votes to approve the compensation of the Company’s named executive officers. 1 Year 2 Years 3 Years Abstain Broker Non-Votes 18,341,189 39,885 1,435,035 126,351 1,231,906
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm
- Shareholder Votes
  MCGRATH RENTCORP shareholders approved Election of Directors..
  - Proposal: director election
  - Outcome: passed
  source text: Proposal 1. Election of Directors. Name of Nominee Votes For Votes Withheld Broker Non-Votes Nicolas C. Anderson 19,686,371 256,089 1,231,906 Kimberly A. Box 19,719,319 223,141 1,231,906 Smita Conjeevaram 18,239,533 1,702,927 1,231,906 William J. Dawson 19,638,443 304,017 1,231,906 Elizabeth A. Fetter 19,814,948 127,512 1,231,906 Joseph F. Hanna 19,861,155 81,305 1,231,906 Bradley M. Shuster 18,603,577 1,338,883 1,231,906
  evidence_url: https://www.sec.gov/Archives/edgar/data/752714/000119312523164831/0001193125-23-164831-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.