secwatch.observer — SEC 8-K summary
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Issuer:     RBC Bearings INC (RBC)
CIK:        0001324948
Form:       8-K
Filed at:   2024-06-28T23:59:59+00:00
Accession:  0001213900-24-057164
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RBC Bearings amends CEO/COO employment agreements; Hartnett base salary $1.5M, Bergeron $672,525
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- CEO Michael Hartnett new base salary $1.5M/year retroactive to March 31, 2024; COO Daniel Bergeron $672,525.
- Initial term expires March 31, 2026 with automatic annual renewals unless 90-day nonrenewal notice.
- New annual equity awards based on adjusted EBITDA, 5-year TSR vs peer group, and 3-year ROIC performance.
- Hartnett receives either 20 hrs/year flight time or $120K annual non-business travel allowance.
- Equity awards are fully vested shares (unrestricted) except Bergeron EBITDA award vests over 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1324948/000121390024057164/0001213900-24-057164-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1324948/000121390024057164/ea0208633-8k_rbcbear.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-057164

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