8-K
MYERS INDUSTRIES INC (MYE)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): May 17, 2022
Myers Industries, Inc.
(Exact Name of Registrant as Specified in Charter)
| Ohio | 001-8524 | 34-0778636 |
|---|---|---|
| (State or Other Jurisdiction<br><br>of Incorporation) | (Commission<br><br>File Number) | (I.R.S. Employer<br><br>Identification No.) |
1293 South Main Street, Akron, Ohio 44301
(Address of Principal Executive Offices, and Zip Code)
(330) 253-5592
Registrant’s Telephone Number, Including Area Code
(Former name or former address, if changed since last report)
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:
| ☐ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock, without par value | MYE | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
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.
On May 19, 2022, Myers Industries, Inc. (the “Company”) issued a press release announcing that Sonal Robinson, the Company’s Executive Vice President and Chief Financial Officer, has submitted her resignation. Ms. Robinson will remain in her role until July 1, 2022 in order to provide a smooth transition. Monica Vinay, the Company’s Vice President, Investor Relations and Treasurer, has been named Interim Chief Financial Officer effective upon Ms. Robinson’s departure. The Company has launched a formal search process to identify the Company’s permanent chief financial officer. These leadership changes are not the result of any matters relating to the Company’s accounting practices or financial statements. The full text of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
Ms. Vinay, age 53, has served as the Company’s Vice President, Investor Relations and Treasurer since 2013. Ms. Vinay will receive a supplemental monthly payment of $5,000 in addition to her base salary of $301,050 for the period during which Ms. Vinay serves as the Company’s Interim Chief Financial Officer.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit<br><br>Number | Description |
|---|---|
| 99.1 | Press Release, dated May 19, 2022 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
| Myers Industries, Inc. | ||
|---|---|---|
| By: | /s/ Sonal P. Robinson | |
| Sonal P. Robinson | ||
| Executive Vice President and Chief Financial Officer | ||
| Date: May 19, 2022 |
EX-99.1
Exhibit 99.1
Myers Industries Announces CFO Transition Plan
May 19, 2022, Akron, Ohio - Myers Industries, Inc. (NYSE: MYE) today announced the upcoming departure of Sonal Robinson, Executive Vice President and Chief Financial Officer. Ms. Robinson joined the Company in February 2021, was appointed Chief Financial Officer effective March 15, 2021, and has resigned to pursue other opportunities. To support a smooth transition, Ms. Robinson will continue in her role at Myers until July 1, 2022. Monica Vinay, Vice President, Investor Relations and Treasurer, has been named Interim Chief Financial Officer and will assume that role upon Ms. Robinson’s departure. The Company has launched a formal search process to identify a permanent successor.
“On behalf of everyone at Myers Industries, I’d like to express my gratitude to Sonal for her outstanding leadership, consistent partnership, and financial stewardship. Sonal has played a central role during one of the most significant periods in the Company’s history,” said Myers Industries’ President and Chief Executive Officer Mike McGaugh. “Her contributions have been a key factor in the important steps we’ve taken to transform the Company. Sonal has elevated the finance organization and strengthened the team through her commitment to excellence and talent development. We are fortunate to have benefited from her talents, and we appreciate everything she’s done for the Company. Monica Vinay is a well-respected and accomplished colleague, and she, along with our experienced finance leadership team, has my full confidence in leading the Finance function as a search for a permanent CFO is conducted.”
Ms. Robinson said, “I am extremely proud of our accomplishments during this transformational period in the Company’s history. It has been a pleasure working alongside such dedicated and talented colleagues and I wish them continued success in the execution of Myers’ long-term strategy.”
About Myers Industries
Myers Industries, Inc. manufactures polymer and metal products for industrial, agricultural, automotive, commercial, and consumer markets. The Company is also the largest distributor of tools, equipment and supplies for the tire, wheel, and under-vehicle service industry in the United States. Visit www.myersindustries.com to learn more.
Contact:
Monica Vinay
Vice President, Investor Relations & Treasurer
(330) 761-6212
M-GU
Source: Myers Industries, Inc.