John B. Blystone appointed Executive Chairman; compensation details disclosed

Worthington Steel, Inc.

John B. Blystone, 70, appointed Executive Chairman effective Dec 1, 2023, board term expiring 2026.
Compensation: $800k base salary, target cash bonus 125% of base (0-250% range), $1.8M LTI award mix.
Special time-vesting restricted shares: 8,920 shares (1-yr cliff), 24,340 shares (2-yr cliff) granted Dec 22, 2023.
Named executive officers: CEO Gilmore $820k base/140% bonus/$3M LTI; CFO Adams $310k base/90% bonus/$350k LTI.
CFO Adams received special $150k cash bonus and 10,000 time-vesting restricted shares (3-yr cliff) for separation efforts.

item 5.02

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Appointed

John B. Blystone

Executive Chairman of the Board

WS · Worthington Steel, Inc.

Effective: 2023-12-01
Filed: December 26, 2023, 6:59 PM ET

John B. Blystone was appointed to serve on our board of directors (“Board”), effective December 1, 2023, in class III, with a term scheduled to expire at our 2026 annual meeting of shareholders. Also effective December 1, 2023, Mr. Blystone, 70, was appointed to the office of Executive Chairman of the Board.

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Executive change SEC 8-K Item 5.02 confidence 0.95

John B. Blystone was appointed as Executive Chairman of the Board at Worthington Steel, Inc..

Action: appointed
Role: Executive Chairman of the Board

Exact text from the filing

John B. Blystone was appointed to serve on our board of directors (“Board”), effective December 1, 2023, in class III, with a term scheduled to expire at our 2026 annual meeting of shareholders. Also effective December 1, 2023, Mr. Blystone, 70, was appointed to the office of Executive Chairman of the Board.

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Worthington Steel, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-303012

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