NN Inc. appoints Chris Bohnert as CFO, replacing Mike Felcher effective June 25, 2024

NN INC

CFO Mike Felcher resigned June 24, 2024; no disagreement with company; will consult at $230/hr for one month.
New CFO Chris Bohnert (30 yrs experience, ex-CVGI CFO) gets base salary of $425,000 and 50% target bonus, with $60k minimum for 2024.
Inducement grant: 189,000 time-vesting RSUs vesting ratably over 5 years; no further equity expected before 2029.
Also granted 287,000 PSUs tied to stock price milestones ($5-$11); earned only if shareholders see value creation.
CEO says Bohnert will 'accelerate transformation'; company anticipates no additional long-term equity awards through 2028.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Christopher H. Bohnert

Senior Vice President, Chief Financial Officer

NNBR · NN INC

Effective: 2024-06-25
Filed: June 24, 2024, 7:59 PM ET

the Board also announced that Christopher H. Bohnert has been appointed to fill the newly-created vacancy of Senior Vice President, Chief Financial Officer, effective as of the Transition Date.

Departed

Michael C. Felcher

Senior Vice President, Chief Financial Officer

NNBR · NN INC

Effective: 2024-06-24
Successor: Christopher H. Bohnert
Filed: June 24, 2024, 7:59 PM ET

On June 24, 2024, the Board of Directors (the “Board”) of NN, Inc. (the “Company”) announced that Michael C. Felcher, Senior Vice President, Chief Financial Officer, tendered his resignation from the Company, effective as of the close of business on June 24, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher H. Bohnert was appointed as Senior Vice President, Chief Financial Officer at NN INC.

Action: appointed
Role: Senior Vice President, Chief Financial Officer

Exact text from the filing

the Board also announced that Christopher H. Bohnert has been appointed to fill the newly-created vacancy of Senior Vice President, Chief Financial Officer, effective as of the Transition Date.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael C. Felcher resigned as Senior Vice President, Chief Financial Officer at NN INC.

Action: resigned
Role: Senior Vice President, Chief Financial Officer

Exact text from the filing

On June 24, 2024, the Board of Directors (the “Board”) of NN, Inc. (the “Company”) announced that Michael C. Felcher, Senior Vice President, Chief Financial Officer, tendered his resignation from the Company, effective as of the close of business on June 24, 2024.

View on SEC.gov

NN INC filing history →

Source: SEC EDGAR

accession 0001193125-24-167079

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