Worthington Enterprises, Inc 8-K, filed Sep 1, 2020
Worthington Enterprises, Inc. (WOR)
About this 8-K
Worthington Enterprises, Inc filed this 8-K on September 1, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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).
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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. |
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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.
As previously reported by Worthington Industries, Inc. (the “Company”), effective as of September 1, 2020, John P. McConnell stepped down as the Chief Executive Officer of the Company (“CEO”) and became the Company’s Executive Chairman. Effective as of that same date, B. Andrew Rose, the Company’s President, assumed the additional role of CEO.
Further information about these changes is contained in Item 5.02 of the Company’s Current Report on Form 8-K dated June 24, 2020, and filed on June 25, 2020, which information is incorporated herein by this reference.
Item 8.01. Other Events.
During August 2020, WI Ventures, LLC, a wholly-owned subsidiary of Worthington Industries, Inc. (“WI Ventures”), sold an aggregate of 6,500,000 shares of Nikola Corporation common stock and received aggregate pre-tax proceeds of $249,983,239 in cash from the sale transactions. WI Ventures also donated 500,000 shares of Nikola Corporation common stock to the Worthington Industries Foundation. After these transactions, WI Ventures continues to own 7,048,020 shares of Nikola Corporation common stock.
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.
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WORTHINGTON INDUSTRIES, INC. |
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Date: September 1, 2020 |
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By: |
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/s/Dale T. Brinkman |
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Dale T. Brinkman, Senior Vice President- Administration, General Counsel & Secretary |
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