Compass Minerals International Inc 8-K, filed Jun 10, 2024
Compass Minerals International Inc (CMP)
About this 8-K
Compass Minerals International Inc filed this 8-K on June 10, 2024, reporting on events of June 7, 2024.
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
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Chief Financial Officer
Effective June 7, 2024, Lorin Crenshaw ceased to serve as Chief Financial Officer of Compass Minerals International, Inc. (the “Company”). The cessation of Mr. Crenshaw’s employment with the Company was not because of any dispute or disagreement with the Company, including with respect to any matter relating to the Company’s accounting practices or financial reporting. Mr. Crenshaw is entitled to receive severance payments under the Company’s previously disclosed Executive Severance Plan, subject to his execution of a release and waiver of claims in the form attached as Exhibit 10.1 which is incorporated by reference herein.
Appointment and Compensation of Chief Financial Officer
Effective June 7, 2024, the Company appointed Jeffrey Cathey as its new Chief Financial Officer.
Mr. Cathey, age 39, joined the Company in December 2023 as the Company’s Chief Accounting Officer. Prior to joining Compass Minerals, Mr. Cathey spent 10 years at Crestwood Equity Partners LP in positions of growing responsibility within various business segments, including senior vice president, controller and principal accounting officer; vice president, operational controller; and assistant controller. He started his career as a senior audit associate with Ernst & Young LLP and was assistant controller at Shamrock Trading Corporation.
The Company entered into a letter agreement, signed June 7, 2024, with Mr. Cathey (the “Offer Letter”), establishing his compensation as Chief Financial Officer. Pursuant to the Offer Letter, Mr. Cathey’s base salary will be $400,000 per year. Mr. Cathey’s targeted cash bonus under the Company’s Management Annual Incentive Program will be calculated at 70% of his base salary, with any bonus payments dependent on the Company’s pre-established performance goals. Mr. Cathey will be eligible to receive equity awards as part of the Company’s Long-Term Incentive Program (“LTIP”), with a target equity award value of $600,000. Mr. Cathey will also receive a one-time LTIP grant on his promotion date, consisting of (i) a one-time grant of restricted stock units with a value of $62,500, vesting ratably over three years, and (ii) a one-time grant of performance stock units (“PSUs”) with a value of $62,500, cliff vesting on the three-year anniversary of the grant date.
Mr. Cathey will be eligible to participate in the employee benefit plans and programs generally available to the Company’s executive officers. The Offer Letter provides that Mr. Cathey’s employment with the Company is at-will.
The foregoing description of the Offer Letter is qualified in its entirety by reference to the full text of the Offer Letter, which is attached as Exhibit 10.2 and incorporated by reference herein. Mr. Cathey and the Company will also enter into the Company’s standard Change in Control Severance Agreement. Mr. Cathey will also be designated as an eligible executive under the Company’s Executive Severance Plan.
There is no arrangement or understanding between Mr. Cathey and any other person pursuant to which Mr. Cathey was appointed as Chief Financial Officer. Furthermore, there are no transactions between Mr. Cathey (or any member of his immediate family) and the Company (or any of its subsidiaries) that would be required to be reported under Item 404(a) of Regulation S-K.
The Company issued a press release announcing Mr. Cathey’s appointment on June 7, 2024. A copy of the press release is attached as Exhibit 99.1 and incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits. |
| Exhibit No. | Exhibit Description | |
| 10.1 | Form of Final Release and Waiver of Claims between Compass Minerals International, Inc. and Lorin Crenshaw. | |
| 10.2 | Offer Letter, signed June 7, 2024, between Compass Minerals International Inc. and Jeffrey Cathey. | |
| 99.1 | Press Release issued by Compass Minerals International Inc. on June 7, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COMPASS MINERALS INTERNATIONAL, INC. | ||
| Date: June 7, 2024 | By: | /s/ Mary L. Frontczak |
| Name: Mary L. Frontczak | ||
| Title: Chief Legal and Administrative Officer and Corporate Secretary | ||
Exhibit 10.1
Final Release and Waiver of Claims
This Final Release and Waiver of Claims (the “Agreement”) is by and between Compass Minerals International, Inc. (the “Company”) and Lorin Crenshaw (“You” or “Your”) (collectively, the “Parties”).
Whereas, You worked for the Company as Chief Financial Officer in Overland Park, Kansas; and
Whereas, the Company and You have agreed to conclude Your employment with the Company on the terms set forth herein effective June 7, 2024 (the “Termination Date”).
Now, therefore, the Parties agree as follows:
1. Company Consideration. In exchange for the consideration You are providing under this Agreement, the Company (provided You timely sign and do not revoke this Agreement and this Agreement becomes effective) agrees to:
a. provide You a one-time lump sum severance payment equal to one (1) times Your annual base salary of $567,438.75 (less applicable deductions and withholdings) within 60 days after the Termination Date.
b. provide You a one-time lump sum payment of $388,328.38 (less applicable withholdings and deductions), representing Your target annual cash bonus relating to fiscal year 2024 (less $8,878.75 the amount you were overpaid for the fiscal year 2023 annual cash bonus) within 60 days after the Termination Date;
c. provide You a one-time lump sum payment of $42,525.00 (less applicable deductions and withholdings), representing one (1) times the amount equal to the aggregate premium cost to cover the existing coverage for You and your currently-enrolled eligible dependents for eighteen (18) months under the Company’s health, vision and dental plans in effect as of the Termination Date, within 60 days after the Termination Date.
d. provide You a one-time lump sum payment (less applicable withholdings and deductions) equal to the value of 34,498 shares of the Company’s stock underlying the restrictive stock units (“RSUs”) granted to You and that would have vested, pursuant to Section 4(c)(i)(A) of the Company’s Amended and Restated Executive Severance Plan effective as of May 15, 2020 (the “Severance Plan”), calculated based on the closing market price on the Termination Date and paid in exchange for the Company cancelling such vested RSUs, within 60 days after the Termination Date.
e. provide You with outplacement assistance through CMA for 12 months, provided activation occurs by July 15, 2024.
2. Your Consideration and Release. In exchange for the consideration the Company is providing under this Agreement, You agree as follows:
a. You release and waive, to the maximum extent permitted by law, and without exception, any and all known, unknown, suspected, or unsuspected claims, demands, or causes of action (collectively, “Claims”), arising at any time in the past up to and including the date You execute this Agreement, that You have or could have against the Company, as well as its past, present and future parents, subsidiaries, affiliates and all other related entities; its and their predecessors, successors and assigns; the past, present and future officers, directors, shareholders, trustees, members, employees, attorneys and agents of any of the previously listed entities; any benefits plan maintained by any of the previously listed entities at any time; and the past, present and future sponsors, insurers, trustees, fiduciaries and administrators of such benefit plans (collectively, “Affiliates”). The Claims You release and waive include but are not limited to:
(1) claims related to Your employment and the termination of Your employment with the Company or its Affiliates.
(2) claims under any federal, state, or local constitution, statute, regulation, ordinance, or other legislative or administrative enactment (as amended), including but not limited to:
| · | The Age Discrimination in Employment Act, The Older Workers Benefit Protection Act, Title VII of the Civil Rights Act of 1964, 42 U.S.C. §§ 1981–1988, the Civil Rights Act of 1991, the Equal Pay Act, the Pregnancy Discrimination Act, the Americans with Disabilities Act, the Rehabilitation Act, and the Genetic Information Nondiscrimination Act. |
| · | the Employee Retirement Income Security Act (except for any vested benefits under any tax qualified benefit plan). |
| · | the Family and Medical Leave Act. |
| · | the Fair Labor Standards Act. |
| · | the Sarbanes-Oxley Act. |
| · | the Occupational Safety and Health Act. |
| · | the Immigration Reform and Control Act. |
| · | the Worker Adjustment and Retraining Notification Act. |
| · | the Fair Credit Reporting Act. |
| · | the Consolidated Omnibus Budget Reconciliation Act (COBRA). |
| · | the National Labor Relations Act. |
| · | the Kansas Act Against Discrimination. |
| · | the Kansas Age Discrimination in Employment Act. |
| · | the Kansas Service Letter Statute. |
| · | the Kansas Workers’ Compensation Act. |
| · | Kansas state wage payment and work hour laws. |
(3) claims for, based on, or related to discrimination, harassment, or retaliation; retaliation for exercising any right or participating or engaging in any protected activity; fraud or misrepresentation; violation of any public policy; workers’ compensation; the payment of compensation, benefits, sick leave, paid time off, or vacation; any bonus, health, stock option, retirement, or benefit plan; tort; contract; and common law.
(4) claims to recover costs, fees, or other expenses, including attorneys’ fees, incurred in any matter.
Note 1: You are not releasing any claims that You cannot release or waive by law, including but not limited to the right to file a charge with, or participate in an investigation conducted by, any appropriate federal, state or local government agency. Further, nothing in this Agreement should be construed to prohibit You from such filings or participation. You are, however, releasing and waiving Your right, and the right of anyone claiming on Your behalf, to any monetary recovery should any government agency (such as the Equal Employment Opportunity Commission (“EEOC”), National Labor Relations Board (“NLRB”), Occupational Safety and Health Administration (“OSHA”), Securities and Exchange Commission (“SEC”) or Department of Labor (“DOL”)) pursue any claims on Your behalf. Notwithstanding this Note 1, nothing contained in this Agreement shall impede Your ability to report possible federal securities violations to the SEC and other governmental agencies (i) without the Company’s approval and (ii) without having to forfeit or forego any resulting whistleblower awards.
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Note 2: You warrant and represent that (1) You have been paid all compensation due and owing through the Effective Date, including minimum wage, overtime, commissions, and bonuses; (2) You have not suffered any workplace injury or illness; (3) You are not aware of any illegal or fraudulent conduct by or on behalf of the Company or its Affiliates; (4) You have not been denied any requested time off or leave of absence or experienced any retaliation for requesting time off or a leave of absence; and (5) You are not aware of any facts that would substantiate a claim that the Company, or any of its Affiliates, has violated Your rights or the rights of any other employee in any way or with regard to any law, including but not limited to the claims You released and waived in this Agreement.
Note 3: Nothing in this Section 2 is intended to limit or restrict Your right to enforce this Agreement.
b. You shall reasonably cooperate with the Company and its Affiliates in any ongoing or future investigation or litigation as requested by the Company. This requirement does not limit Your right to file a charge with, or participate in, an investigation conducted by any appropriate federal, state or local government agency (such as the EEOC, NLRB, SEC, DOL or OSHA), nor does it require You to provide anything other than truthful information in good faith to the best of Your ability.
c. You will not disparage in any way, or make negative comments of any sort, about the Company or its Affiliates, their employees, customers, or vendors, whether orally or in writing, and whether to a third party or to an employee of the Company or its Affiliates. This prohibition does not limit Your right to file a charge with, or participate in, an investigation conducted by any appropriate federal, state or local government agency (such as the EEOC, NLRB, SEC, DOL or OSHA), or to provide truthful information while testifying under oath.
d. You agree that You will not, on Your own behalf or on behalf of any other person, file or initiate any civil complaint or suit against the Company or its Affiliates in any forum for any claims waived or released by this Agreement. If You violate this provision by filing such complaint or civil suit, and such filing is found to be a violation, the Company shall be entitled to recover and You shall be liable for the Company’s reasonable attorneys’ fees, expenses and costs of defending such litigation.
e. You agree that, as of the Termination Date, You resign any officer or director positions at the Company and any subsidiaries of the Company, effective as of the Termination Date.
3. Business Records and Your Continuing Obligations. You represent that You have returned to the Company any and all property belonging to the Company, including but not limited to business records and documents relating to any activity of the Company or its Affiliates, files, records, documents, plans, drawings, specifications, equipment, software, pictures, and videotapes, whether prepared by You or not and whether in written or electronic form.
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4. Confidentiality and Restrictive Covenant Agreements.
a. You understand that You remain bound by the Restrictive Covenant Agreement signed by You on November 20, 2023, and any other confidentiality or non-solicitation agreements You signed during Your employment with the Company, which remain in full force and effect pursuant to their terms. You agree that the consideration provided to You under this Agreement shall serve as additional consideration for the continuing requirements and restrictions contained in such agreements.
b. You further understand and agree that the terms of this Agreement, and the circumstances and/or discussions leading to this Agreement, are confidential and that You will not disclose such terms or communicate the contents of this Agreement to any third-party, other than to Your immediate family members, attorneys, accountants or financial advisors (provided that any such party to whom You disclose such information makes a promise, for the benefit of the Company, to keep such information confidential). Nothing in this Agreement shall preclude You from disclosing such information to any governmental taxing authorities or as otherwise required by law.
Note: Notwithstanding any other provision of this Agreement, or any other agreement, You will not be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; or (2) in a complaint or other document that is filed under seal in a lawsuit or other proceeding. If You file a lawsuit for retaliation by the Company for reporting a suspected violation of law, You may disclose the Company’s trade secrets to Your attorney and use the trade secret information in a court proceeding so long as You (1) file any document containing the trade secret under seal and (2) do not disclose the trade secret, except pursuant to court order.
5. Your Further Agreements and Acknowledgements. You further agree or acknowledge:
a. You have carefully read and fully understand all of the provisions of this Agreement, which is written in a manner You clearly understand.
b. You are entering into this Agreement knowingly, voluntarily, and with full knowledge of its significance, and have not been coerced, threatened, or intimidated into signing this Agreement.
c. You received a copy of this Agreement to review on the Termination Date.
d. You have 22 days from the Termination Date (i.e., no later than June 14, 2024) to consider whether to accept this Agreement (although You may sign it at any time prior to the expiration of such 22-day review period, if You wish, in Your sole discretion). You may accept this Agreement by signing and returning the signed copy so that it is received by the Company (c/o Mary L. Frontczak at the Company’s corporate headquarters located at 9900 W. 109th Street, Suite 100, Overland Park, Kansas 66210) via hand-delivery, certified mail, overnight express mail or e-mail (legal@compassminerals.com) within the 22-day period following receipt of this Agreement.
e. that further revisions or changes to this Agreement, whether material or immaterial, do not restart the running of the 22-day review period.
f. the Company advises You to consult with independent legal counsel regarding this Agreement.
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g. the Company advises You to consult with an independent financial advisor regarding the tax treatment of any payments or benefits under this Agreement.
h. You may revoke your acceptance of this Agreement within 7 calendar days after You sign it by providing written revocation, during that time, to the Company (c/o Mary L. Frontczak at the Company’s corporate headquarters located at 9900 W. 109th Street, Suite 100, Overland Park, Kansas 66210) via hand-delivery, certified mail, overnight express mail or e-mail (legal@compassminerals.com) within the 7-day revocation period.
i. this Agreement shall be effective and enforceable on the 8th calendar day following the date You execute it, provided You do not earlier revoke it (the “Effective Date”).
j. the consideration the Company has provided in this Agreement exceeds anything to which You are entitled in connection with Your employment or Your departure from the Company, including under ERISA or Section 4 of the Severance Plan. You agree that You are not entitled for any reason, or under any other agreement with the Company or its Affiliates, including the Severance Plan, to receive any consideration other than, or in addition to, that which You are receiving under this Agreement (including any consideration that may otherwise be due to You by reason of Your termination by the Company for any reason).
k. neither the Company nor its Affiliates has made any representations or warranties to You regarding this Agreement, including the tax treatment of any payments or benefits under this Agreement, and neither the Company nor its Affiliates shall be liable for any taxes, interest, penalties, or other amounts owed by You.
l. You hereby represent to the Company that You are not a Medicare beneficiary, and no conditional payments have been made by Medicare to or on behalf of You, as of the date You executed this Agreement. You agree to indemnify, defend, and hold harmless the Company and its Affiliates from any Medicare-related claims, including but not limited to any liens, conditional payments, rights to payment, multiple damages, or attorneys’ fees.
6. The Parties’ Additional Agreements and Acknowledgements. The Parties further agree and acknowledge:
a. neither the existence of this Agreement nor anything in this Agreement shall constitute an admission of any liability on the part of You, the Company, or any of the Company’s Affiliates, the existence of which liability the Parties expressly deny.
b. except as provided herein, this Agreement contains the entire agreement between You and the Company with respect to the matters contemplated hereby, and no modification or waiver of any provision of this Agreement will be valid unless in writing and signed by You and the Company.
c. this Agreement shall be construed in accordance with the laws of the State of Kansas, the federal and state courts of which shall have exclusive jurisdiction over all actions related to this Agreement.
d. this Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall constitute together one and the same Agreement, and a signed copy of this Agreement delivered by facsimile, pdf, e-mail or other means of electronic transmission is deemed to have the same legal effect as delivery of an original.
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e. neither of the Parties is relying on any representation not contained herein; the Parties shall be considered joint authors in the event of any dispute concerning this Agreement, and no provision shall be interpreted against any of the Parties because of alleged authorship; this Agreement shall not be strictly construed by or against You, the Company, or any of the Company’s Affiliates; and the Parties’ intent is that this Agreement shall be interpreted as reasonable and so as to enforce the Parties’ intent and to preserve this Agreement’s purpose.
f. this Agreement is binding on, and inures to the benefit of, the Company’s successors and assigns and Your heirs, agents, executors, successors and assigns.
g. that the Company may assign this Agreement, including but not limited to Your releases and waivers, Your additional agreements or prohibitions, and any other confidentiality or restrictive covenant obligations or agreements signed by You, including those referenced in Section 4(a).
7. Section 409A.
a. To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other such guidance that may be issued after the Effective Date (collectively, “Section 409A”). Notwithstanding any provision of this Agreement to the contrary, in the event that following the Effective Date, the Company determines that any compensation or benefits payable under this Agreement may be subject to Section 409A, the Company may adopt such amendments to this Agreement or adopt other policies or procedures (including amendments, policies and procedures with retroactive effect), or take any other actions that the Company determines are necessary or appropriate to preserve the intended tax treatment of the compensation and benefits payable hereunder, including without limitation actions intended to (i) exempt the compensation and benefits payable under this Agreement from Section 409A, and/or (ii) comply with the requirements of Section 409A, provided, however, that this Section 7 does not, and shall not be construed so as to, create any obligation on the part of the Company to adopt any such amendments, policies or procedures or to take any other such actions. In no event shall the Company, its affiliates or any of their respective officers, directors or advisors be liable for any taxes, interest or penalties imposed under Section 409A or any corresponding provision of state or local law.
b. Any right under this Agreement to a series of installment payments shall be treated as a right to a series of separate payments.
c. Notwithstanding anything to the contrary in this Agreement, no compensation or benefits shall be paid to You during the six (6)-month period following Your “separation from service” with the Company (within the meaning of Section 409A) if the Company determines that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first business day following the end of such six (6)-month period (or such earlier date upon which such amount can be paid under Section 409A without resulting in a prohibited distribution, including as a result of your death), the Company shall pay you a lump-sum amount equal to the cumulative amount that would have otherwise been payable to you during such period (without interest).
d. To the extent any reimbursements or in-kind benefits due to You under this Agreement constitute “deferred compensation” to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would apply, any such reimbursements or in-kind benefits shall be paid or reimbursed reasonably promptly, but in no event later than December 31st of the year following the year in which the expense was incurred. The amount of any such payments eligible for reimbursement in one year shall not affect the payments or expenses that are eligible for payment or reimbursement in any other taxable year, and Your right to such payments or reimbursements of any such expenses shall not be subject to liquidation or exchange for any other benefit.
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SIGNATURE PAGE
I have fully and carefully read and considered this Agreement and acknowledge that I understand it. I understand that Section 5 of this Agreement advised me to consult with legal counsel regarding this Agreement and advised me to consult with a financial advisor regarding tax treatment of any payments or benefits under this Agreement. I am signing this Agreement voluntarily with full knowledge I am waiving my legal rights and that I will be bound by all agreements, representations, and acknowledgements set forth herein:
| Date: | |||
| Lorin Crenshaw | |||
| Compass Minerals INTERNATIONAL, Inc. | ||||
| Date: | By: | |||
| Name: | ||||
| Title: | ||||
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Exhibit 10.2
June 7, 2024
Dear Jeff:
We are pleased to offer you a promotion to Chief Financial Officer effective June 7, 2024, reporting to me. You will become a member of the Senior Management Team. Your new annual base salary will be $400,000.
You will remain eligible for the Compass Minerals Management Annual Incentive Program (MAIP) and your incentive target will increase to 70% of your base salary.
You will remain eligible for the Compass Minerals Long Term Incentive Program (LTIP) and your incentive target grant date value will be $600,000, with a target grant value mix of 50% restricted stock units (RSUs) and 50% performance stock units (PSUs), beginning with the fiscal year 2025 grant.
In addition, you will receive a one-time LTIP grant valued at $125,000 on your promotion date, 50% of which will be RSUs which will vest ratably over 3 years and 50% of which will be PSUs which will vest on the third anniversary of the Grant Date.
You will also be an Eligible Executive under the Company’s Amended and Restated Executive Severance Plan.
You will be eligible to participate in the employee benefit plans and programs generally available to the Company’s executive officers.
Congratulations and I look forward to working with you as we continue to build our business. If you have any questions, or would like to discuss in greater detail, please reach out to me directly at your convenience.
Please sign this letter below, acknowledging your acceptance.
Sincerely,
| /s/ Ed Dowling | |
| Ed Dowling | |
| President and Chief Executive Officer |
By signing this letter below, you understand and agree that your employment with the company is at-will. That is, your employment is not for any specified duration and you or the Company may terminate it, at any time, with or without cause and without notice.
| /s/ Jeff Cathey | 6/7/2024 | |
| Jeff Cathey | Date |
Exhibit 99.1
FOR IMMEDIATE RELEASE
Compass Minerals Names Jeffrey Cathey Chief Financial Officer
OVERLAND PARK, Kan. (June 7, 2024) – Compass Minerals (NYSE: CMP), a leading global provider of essential minerals, today announced the appointment of Jeffrey Cathey as the company’s new chief financial officer (CFO). In this role, Cathey will be responsible for all aspects of financial management, including accounting, reporting, tax, internal audit, treasury, financial planning and analysis, and investor relations. Cathey joined Compass Minerals in December 2023 as chief accounting officer.
“A key driver in our efforts to get back to the basics by creating value through our core Salt and Plant Nutrition businesses is rigorous balance sheet management. Jeff is a proven leader who has built and improved financial organizations and systems over his career. His skillset aligns extremely well with where the company is today, and more importantly, where we want to go,” said Edward C. Dowling Jr., president and CEO. “I’m confident his leadership as CFO will help further our efforts to manage costs, reduce debt, and improve our overall financial performance.”
Cathey brings over 15 years of financial leadership experience in public and private companies to this new role. Before joining Compass Minerals, he spent 10 years in positions of increasing responsibility at Crestwood Equity Partners LP, most recently as principal accounting officer. Previously, he held roles at Shamrock Trading Corporation and Ernst & Young LLP.
Cathey earned a Bachelor of Science degree in both finance and accounting, and a Master of Science degree in accounting from Kansas State University. He is also a certified public accountant.
Cathey succeeds Lorin Crenshaw, who had served as the company’s CFO since December 2021. As part of this transition, Crenshaw has departed the company, effective immediately, to pursue other opportunities.
“I appreciate Lorin’s service and contributions during his tenure at our company and wish him continued success in his next pursuit,” added Dowling.
About Compass Minerals
Compass Minerals (NYSE: CMP) is a leading global provider of essential minerals focused on safely delivering where and when it matters to help solve nature’s challenges for customers and communities. The company’s salt products help keep roadways safe during winter weather and are used in numerous other consumer, industrial, chemical and agricultural applications. Its plant nutrition products help improve the quality and yield of crops, while supporting sustainable agriculture. Additionally, it is working to develop a long-term fire-retardant business. Compass Minerals operates 12 production and packaging facilities with nearly 2,000 employees throughout the U.S., Canada and the U.K. Visit compassminerals.com for more information about the company and its products.
Forward-Looking Statements
This press release may contain forward-looking statements, including, without limitation, statements regarding cost management, debt reduction and financial performance. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s Annual and Quarterly Reports on Forms 10-K and 10-Q, including any amendments, as well as the company’s other SEC filings. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments, except as required by law.
| Media Contact | Investor Contact |
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