JELD-WEN Holding, Inc 8-K, filed Aug 19, 2022
JELD-WEN Holding, Inc. (JELD)
About this 8-K
JELD-WEN Holding, Inc filed this 8-K on August 19, 2022, reporting on events of August 18, 2022.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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. |
On August 18, 2022, JELD-WEN Holding, Inc. (the “Company”) entered into a Departure and Release Agreement with David Guernsey, EVP, Strategic Programs. Mr. Guernsey will transition his responsibilities over the next 30 days and his last day with the Company will be on September 16, 2022. Mr. Guernsey will be available on a consultation basis for one year after his departure, and in exchange, the restricted stock units and performance stock units granted to him on February 11, 2020 will vest in accordance with the terms of such restricted stock units and performance stock units (based on actual performance), as applicable, on February 11, 2023 as if he were still employed by the Company.
In connection with his departure, Mr. Guernsey will receive the separation payments and benefits provided under his employment agreement for a qualifying termination. Additionally, he will receive a lump sum cash payment equivalent to 12 months of COBRA coverage and outplacement services. Mr. Guernsey will continue to be subject to certain restrictive covenants, including non-competition and non-solicitation covenants.
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.
| Date: August 19, 2022 | JELD-WEN HOLDING, INC. | |||||
| By: | /s/ Roya Behnia | |||||
| Roya Behnia | ||||||
| EVP, Chief Legal Officer and Corporate Affairs | ||||||