secwatch.observer — SEC 8-K summary
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Issuer:     TWIN DISC INC (TWIN)
CIK:        0000100378
Form:       8-K
Filed at:   2022-08-08T23:59:59+00:00
Accession:  0001437749-22-019413
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/0001437749-22-019413-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100378/000143774922019413/twin20220805_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-019413

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