Business Context and Reporting Period
This Form 8-K filing by Apogee Enterprises, Inc. was submitted on October 4, 2017. The report details a corporate governance action taken by the Board of Directors regarding the company's deferred compensation plan.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a plan amendment and does not contain financial performance data.
Material Changes
The Board of Directors adopted the Third Amendment to the Apogee Enterprises, Inc. 2011 Deferred Compensation Plan. The material change involves the redefinition of the term "Retirement" within the Plan. The new definition now means a participant's separation from service after the earlier of:
- Attainment of age 65; or
- Attainment of age 60 and the completion of five years of service.
This amendment is effective for compensation deferral agreements that become irrevocable under the Plan after October 1, 2017.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is a procedural disclosure regarding the amendment of a specific employee benefit plan.
Investor Verification Checklist
- Verify the specific terms of the Third Amendment to the 2011 Deferred Compensation Plan in Exhibit 10.1.
- Confirm the effective date of the new "Retirement" definition for existing and future deferral agreements.
- Assess the potential impact of the age and service requirement changes on eligible participants.