---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-019413"
form_type: "8-K"
ticker: "TWIN"
cik: "0000100378"
company_name: "TWIN DISC INC"
filed_at: "2022-08-08T23:59:59+00:00"
generated_at: "2026-06-24T02:32:07.645018+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Twin Disc appoints Kevin Olsen to board; CEO, CFO get salary increases, new equity awards

## Summary
- Board appoints Kevin Olsen (CEO of Dorman Products) as director; board expands to 9; effective Aug 4, 2022.
- Annual director retainer $140,000 (48% cash, 52% restricted shares) pro-rated for Olsen.
- CEO Batten base salary raised 4% to $655,200; CFO Knutson raised 5% to $385,875; effective Oct 1, 2022.
- Batten gets 48,251 restricted shares and target 72,376 performance RSUs; Knutson gets 23,691 restricted shares and target 35,537 performance shares.
- New Change in Control Severance Agreements set Batten severance at 2.5x, Knutson at 2.0x base plus bonus.

## SEC filing metadata
- accession: 0001437749-22-019413
- form_type: 8-K
- ticker: TWIN
- cik: 0000100378
- company_name: TWIN DISC INC
- filed_at: 2022-08-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/twin20220805_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-019413
- JSON: https://secwatch.observer/filing/0001437749-22-019413.json
- Plain text: https://secwatch.observer/filing/0001437749-22-019413.txt

## Key facts
- Executive change
  David B. Rayburn retired as Director at TWIN DISC INC.
  - Action: retired
  - Role: Director
  source text: On August 4, 2022, David B. Rayburn announced his intention to retire from the Board, effective after the Company’s 2022 Annual Meeting of Shareholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm
- Executive change
  Kevin Olsen was appointed as Director at TWIN DISC INC.
  - Action: appointed
  - Role: Director
  source text: On August 4, 2022, the Board of Directors (the “Board”) of Twin Disc, Incorporated (the “Company”) increased the size of the Board from eight to nine, and appointed Kevin Olsen as a member of the Board to fill the vacancy created by the expansion of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm
- Executive change
  Michael C. Smiley was appointed as Chairman of the Board at TWIN DISC INC.
  - Action: appointed
  - Role: Chairman of the Board
  source text: The Board intends to appoint Michael C. Smiley as the new Chairman of the Board after Mr. Rayburn’s retirement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm
- Executive change
  Harold M. Stratton II departed as Director at TWIN DISC INC.
  - Action: not nominated
  - Role: Director
  source text: In addition, Harold M. Stratton II will not be nominated for another term to the Company’s Board, and his term on the Board will end as of the Company’s 2022 Annual Meeting of Shareholders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.