secwatch.observer — SEC 8-K summary
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Issuer:     TWIN DISC INC (TWIN)
CIK:        0000100378
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001437749-23-022619
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Twin Disc sets FY2024 pay for CEO Batten ($684,684) and CFO Knutson ($403,239); restricted stock grants approved
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- Base salaries for CEO Batten and CFO Knutson increased 4.5%, effective Oct 1, 2023.
- Batten target bonus 85% of base ($581,981), Knutson target 55% ($221,781); CIP weighted on EBITDA, sales, inventory.
- Batten awarded 32,933 restricted shares (vest 3 yrs); Knutson 16,170 restricted shares.
- Batten target performance shares 49,399 (max 147,308); Knutson target 24,255; based on avg ROIC (50%) and cumulative EBITDA (50%).
- Amendment to Batten's 2022 RSU award: service-based vesting ends June 30, 2025 (vs. 3 yrs from grant date).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/100378/000143774923022619/0001437749-23-022619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/100378/000143774923022619/twin20230808_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-022619

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