--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-002591" form_type: "8-K" ticker: "HLLY" cik: "0001822928" company_name: "Holley Inc." filed_at: "2023-02-06T23:59:59+00:00" generated_at: "2026-06-20T00:17:54.249431+00:00" event_type: "leadership" sentiment: "negative" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Holley CEO Tomlinson retires; Gloeckler interim CEO; prelim Q4 sales $153-155M, down 15% YoY ## Summary - CEO Tom Tomlinson retires effective Feb 6, 2023; Director Michelle Gloeckler named Interim President and CEO. - Matthew Rubel appointed Executive Chairman; Graham Clempson added to Board. - Preliminary Q4 net sales $153-155M, gross profit $46-48M, net loss $17-19M, Adj. EBITDA $13-15M. - Full year 2022 net sales $687-689M (flat YoY); Adj. EBITDA $113-115M vs $169M in 2021. - Gloeckler compensation: $530k base salary, 100k RSUs, target bonus 100% of base. ## SEC filing metadata - accession: 0001437749-23-002591 - form_type: 8-K - ticker: HLLY - cik: 0001822928 - company_name: Holley Inc. - filed_at: 2023-02-06T23:59:59+00:00 - event_type: leadership - sentiment: negative - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 2.02, 5.02, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/hlly20230206_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-002591 - JSON: https://secwatch.observer/filing/0001437749-23-002591.json - Plain text: https://secwatch.observer/filing/0001437749-23-002591.txt ## Key facts - Earnings Releases Holley Inc. reported the full year ended December 31, 2022 results: revenue Preliminary Net Sales of $687-$689 million, net income Preliminary Net Income of $70-$72 million. - Period: the full year ended December 31, 2022 - Revenue: Preliminary Net Sales of $687-$689 million - Net income: Preliminary Net Income of $70-$72 million - Result: preliminary results source text: Full Year 2022 Highlights vs. Prior Year Period ● Preliminary Net Sales of $687-$689 million, compared to $693 million in 2021 ● Preliminary Gross Profit of $253-$255 million, compared to $287 million in 2021 ● Preliminary Net Income of $70-$72 million, compared to a Net Loss of $27 million in 2021 ● Preliminary Adjusted EBITDA 1 range of $113 to $115 million, compared to $169 million in 2021 evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - Earnings Releases Holley Inc. reported the fourth quarter ended December 31, 2022 results: revenue Preliminary Net Sales of $153-$155 million, net income Preliminary Net Loss of $19-$17 million. - Period: the fourth quarter ended December 31, 2022 - Revenue: Preliminary Net Sales of $153-$155 million - Net income: Preliminary Net Loss of $19-$17 million - Result: preliminary results source text: Fourth Quarter Highlights vs. Prior Year Period ● Preliminary Net Sales of $153-$155 million compared to $180 million in the fourth quarter 2021 ● Preliminary Gross Profit of $46-$48 million compared to $75 million in the fourth quarter of 2021 ● Preliminary Net Loss of $19-$17 million compared to a Net Loss of $18 million in the fourth quarter of 2021 ● Preliminary Adjusted EBITDA 1 of $13 to $15 million, compared to $36 million in the fourth quarter of 2021 evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - Executive change Matthew Rubel was appointed as Executive Chairman at Holley Inc.. - Action: appointed - Role: Executive Chairman source text: Matthew Rubel, the Company’s current Chairman of the Board, was designated and appointed Executive Chairman of the Board, and expects to serve in such role until a permanent CEO has been selected. evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - Executive change Thomas Tomlinson retired as President and Chief Executive Officer at Holley Inc.. - Action: retired - Role: President and Chief Executive Officer source text: On February 4, 2023, Thomas Tomlinson gave notice to the Company that he will retire as President and Chief Executive Officer (“CEO”) and resign from the Board of Directors (the “Board”), effective February 6, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - Executive change Michelle Gloeckler was appointed as Interim President and Chief Executive Officer at Holley Inc.. - Action: appointed - Role: Interim President and Chief Executive Officer source text: The Board has appointed current Director, Michelle Gloeckler, as Interim President and CEO while it conducts a comprehensive search process to identify a permanent CEO. evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm - Executive change Graham Clempson was appointed as Director at Holley Inc.. - Action: appointed - Role: Director source text: Graham Clempson, an observer on the Board since the Company’s business combination with Empower Ltd. (“Empower”) in July 2021, was appointed to serve as a member of the Board, effective immediately. evidence_url: https://www.sec.gov/Archives/edgar/data/1822928/000143774923002591/0001437749-23-002591-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.