Armstrong World Industries Inc 8-K, filed Apr 4, 2022
Armstrong World Industries Inc (AWI)
About this 8-K
Armstrong World Industries Inc filed this 8-K on April 4, 2022, reporting on events of March 31, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
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Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Extension of Chief Financial Officer Employment
On March 31, 2022, the Board of Directors (the “Board”) of Armstrong World Industries, Inc. (the “Company”) approved an extension of the retirement date for Brian MacNeal, Senior Vice President and Chief Financial Officer, in order to ensure a smooth transition to a successor. Mr. MacNeal’s new retirement date will be September 1, 2022, or another date as may be mutually agreed to by Mr. MacNeal and the Company’s Chief Executive Officer (“Extended Retirement Date”). Mr. MacNeal’s original retirement date of May 1, 2022 was previously disclosed on August 31, 2021. The Company is continuing its comprehensive search for a successor to Mr. MacNeal with the assistance of an independent search firm. In consideration for remaining in his current position with the Company through the Extended Retirement Date, Mr. MacNeal will be eligible to receive a special incentive cash bonus with a target value of $288,713, payable in the first quarter of 2023.
Talent Engagement Program
On March 31, 2022, the Management Development & Compensation Committee of the Board approved awards to certain executives and employees under the Company’s 2016 Long-Term Incentive Program to sustain talent engagement in the current labor market, maintain leadership focus on key growth investments and initiatives, and recognize strong performance despite the challenges of the COVID-19 pandemic, in the form of restricted stock unit grants that would fully vest and be issued if the recipient is still actively employed and in good standing on March 31, 2023. The recipients included Ellen R. Romano, Senior Vice President, Human Resources, who received an award of 2,501 restricted stock units.
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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.
ARMSTRONG WORLD INDUSTRIES, INC. |
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By: |
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/s/ Austin So |
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Austin So |
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Senior Vice President, General Counsel, Secretary and Chief Compliance Officer |
Date: April 4, 2022
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