secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCE AUTO PARTS INC (AAP)
CIK:        0001158449
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0001193125-23-218433
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Advance Auto Parts names Shane O'Kelly as CEO, appoints interim CFO
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- Shane O'Kelly appointed President, CEO and director effective Sep 11, 2023; base salary $1.125M, target bonus 150%.
- O'Kelly receives sign-on cash bonuses totaling $2M and equity (78,982 RSUs, 150,000 options) with three-year vesting.
- Interim CFO Anthony Iskander appointed effective Aug 18; base salary $406K, monthly $25K stipend, $500K RSU grant.
- Current CEO Tom Greco remains until Sep 11, then advisor through Mar 2024; prior CFO Jeff Shepherd separated without disagreement.
- O'Kelly joins from HD Supply (Home Depot subsidiary) where he served as CEO since Dec 2020.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1158449/000119312523218433/0001193125-23-218433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1158449/000119312523218433/d508220d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-218433

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