Lindsay Corp 8-K, filed Feb 1, 2021
Lindsay Corp (LNN)
About this 8-K
Lindsay Corp filed this 8-K on February 1, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 7.01: Regulation FD disclosure
- 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. |
(d) On February 1, 2021, the Company’s Board of Directors expanded the size of the Board of Directors from seven to eight members and appointed Ibrahim Gokcen as a director effective immediately. Mr. Gokcen is a member of the class of directors with a term expiring at the January 2023 Annual Meeting. Mr. Gokcen has been appointed to serve on the Audit Committee and the Corporate Governance and Nominating Committee.
Mr. Gokcen will receive compensation for serving as a director consistent with the description of compensation of non-employee directors included in the section entitled “Compensation of Directors” in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on November 24, 2020.
Mr. Gokcen has entered into an Indemnification Agreement with the Company in the form attached as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 19, 2018.
There are no arrangements or understandings between Mr. Gokcen and any other person pursuant to which Mr. Gokcen was appointed as a director, and there are no transactions between Mr. Gokcen and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
| Item 7.01. | Regulation FD Disclosure. |
A copy of the press release announcing Mr. Gokcen’s appointment to the Company’s Board of Directors is furnished herewith as Exhibit 99.1 and is hereby incorporated by reference into this Item 7.01. In accordance with General Instruction B.2 of Form 8-K, the information contained in this Item 7.01 and the press release are being furnished under Item 7.01 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities of that section, nor shall such information and exhibit be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
| Item 9.01. | Financial Statements and Exhibits. |
| 10.1 | Form of Indemnification Agreement between the Company and its Officers and Directors, previously filed as Exhibit 10.1 with the Company’s Current Report on Form 8-K filed on October 19, 2018. | |
| 99.1 | Press Release, dated February 1, 2021, issued by the Company. | |
| 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.
| Dated: February 1, 2021 | LINDSAY CORPORATION | |||||
| By: | /s/ Brian L. Ketcham | |||||
| Brian L. Ketcham, Senior Vice President and Chief Financial Officer | ||||||
Exhibit 99.1
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18135 BURKE ST. OMAHA, NE 68022 TEL: 402-829-6800 FAX: 402-829-6836 |
For further information, contact:
| LINDSAY CORPORATION: | THREE PART ADVISORS: | |
| Brian Ketcham | Hala Elsherbini | |
| Senior Vice President & Chief Financial Officer | 972-458-8000 | |
| 402-827-6579 |
Lindsay Corporation Announces Appointment of Ibrahim Gokcen to Board of Directors
OMAHA, Neb., February 1, 2021—Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, announced today that Ibrahim Gokcen has been appointed to its Board of Directors. Mr. Gokcen, 43, is the President & Chief Revenue Officer for Open Insights LLC, a data advisory and services company. Prior to that he was the Senior Vice President and Digital Chief Technology Officer for Schneider Electric from 2018 to 2020. Prior to that, Mr. Gokcen served as the Chief Digital Officer for A. P. Moller Maersk from 2016 to 2018. Mr. Gokcen also previously held senior product, information technology, and research and development leadership roles at General Electric.
Mr. Gokcen currently serves as an independent director for Maersk Tankers and ZeroNorth. Mr. Gokcen has a PhD in Computer Science from Tulane University and has extensive and deep experience in artificial intelligence, machine learning, and the industrial internet of things (IoT), having spent significant time transforming businesses in a number of industries with technology. While currently living in the United States, Mr. Gokcen has held positions in international markets during his career.
Lindsay’s Chairman, Robert Brunner, remarked, “Ibrahim’s solid track record of leading the digital transformation at several world-class industrial companies will provide valuable insight to Lindsay’s Board of Directors and management as we continue to focus on strategic growth.”
Lindsay’s President and Chief Executive Officer Randy Wood added, “I am very pleased to have Ibrahim join our Board. His broad technology and international experiences will help Lindsay continue to grow as a global innovation-based company.”
About the Company
Lindsay Corporation (NYSE: LNN) is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. Established in 1955, the company has been at the forefront of research and development of innovative solutions to meet the food, fuel, fiber and transportation needs of the world’s rapidly growing population. The Lindsay family of irrigation brands includes Zimmatic® center pivot and lateral move agricultural irrigation systems and FieldNET® remote irrigation management and scheduling technology, as well as irrigation consulting and design and industrial IoT solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems®, Road Zipper® and Snoline™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.
Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, Company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations and planned financing of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” “expect,” “outlook,” “could,” “may,” “should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.