Albemarle Corp 8-K, filed Feb 24, 2022
Albemarle Corp (ALB)
8-K
2022-02-24
For: 2022-02-21
View Original
Added on
April 09, 2026
About this 8-K
Albemarle Corp filed this 8-K on February 24, 2022, reporting on events of February 21, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 21, 2022
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(Exact name of registrant as specified in charter)
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(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (980 ) 299-5700
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(Former name or former address, if changed since last report.)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2)
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) Effective as of February 21, 2022, the Board of Directors (the “Board”) of Albemarle Corporation (the “Company”), appointed Dr. Ralf H. Cramer as an independent member of the Board. In addition, Dr. Cramer has been appointed to the Audit & Finance Committee and the Health, Safety & Environment Committee of the Board. With the appointment of Dr. Cramer, the Board has fixed the number of Board members at ten.
In accordance with our non-employee director compensation program, Dr. Cramer will receive an annual retainer of $100,000, payable quarterly and pro-rated for partial quarter of appointment, and an annual grant of stock equal to $130,000, rounded up to the nearest 25-share increment and pro-rated for partial year of appointment.
There is no arrangement or understanding with or between Dr. Cramer and any other persons pursuant to which he was selected as a director. Dr. Cramer is not a party to any transactions set forth in Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit | ||||||||
| Number | Exhibit | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ALBEMARLE CORPORATION | ||||||||||||||
| Date: | February 24, 2022 | By: | /s/ Karen G. Narwold | |||||||||||
| Karen G. Narwold | ||||||||||||||
Executive Vice President, Chief Administrative Officer and General Counsel | ||||||||||||||
Exhibit 99.1
Albemarle Corporation Appoints Ralf Cramer to Board of Directors
CHARLOTTE, N.C., Feb. 24, 2022 - Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that its Board of Directors (the “Board”) has appointed Ralf H. Cramer to the Board, effective February 21, 2022. Cramer will serve as a member of the Board’s Audit & Finance Committee and Health, Safety & Environment Committee.
“Ralf brings a wide range of experience from the automotive industry, manufacturing operations, and emerging markets to our Board of Directors,” said Albemarle Chairman and CEO Kent Masters. “We welcome his skill set to our Board and are confident his years of leadership experience will add significant value to Albemarle and our shareholders.”
Cramer has more than 25 years of automotive industry experience. He served as an Executive Board Member of Continental AG, an automotive parts manufacturing company, from 2009 to 2017, where he previously served as President and CEO of Continental China, President of Continental Chassis & Safety/ADAS, Member of the Executive Board of Continental Automotive System CAS, and Executive Director of Operations Unit Elektronics. Prior to joining Continental AG in 2002, Cramer held executive positions with Grunding AG and ITT Automotive.
Cramer is presently an independent industry advisor and consultant and serves as Senior Consultant to Shenzhen Shentou Investment Co Ltd., a China-based cross-border M&A consultancy and investment company. In addition, Cramer serves on the board of directors of Knorr-Bremse Truck, a subsidiary of Knorr-Bremse A.G., as well as the boards of BBS Automation GmbH and Metalsa S.A.
About Albemarle Corporation
Albemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
Media Contact: Kelli Hopp-Michlosky, +1 (980) 999-5143, Kelli.Hopp-Michlosky@albemarle.com
Investor Relations Contact: David Burke, +1 (980) 299-5533, David.Burke@albemarle.com