secwatch.observer — SEC 8-K summary
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Issuer:     NN INC (NNBR)
CIK:        0000918541
Form:       8-K
Filed at:   2024-06-24T23:59:59+00:00
Accession:  0001193125-24-167079
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/918541/000119312524167079/0001193125-24-167079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/918541/000119312524167079/d838374d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-167079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer