Business Context and Reporting Period
Company: MOTORCAR PARTS OF AMERICA INC (MPAA)
Filing Type: Form 8-K (Current Report)
Date of Report: June 26, 2026
Event: Entry into a Material Definitive Agreement (CEO Employment Amendment)
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The report focuses exclusively on executive compensation adjustments.
Material Changes
- Employment Term Extension: The term of the CEO Employment Agreement has been extended from July 1, 2027, to July 1, 2029.
- Salary Increase: The Board approved a salary increase for CEO Selwyn Joffe effective June 26, 2026, raising his annual compensation from $828,256 to $902,799.
- Future Adjustment: A further salary increase to $984,050 per annum is scheduled to take effect on April 1, 2027.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, or discussion of risks and contingencies. The document strictly details the terms of Amendment No. 7 to the CEO's employment contract.
Investor Verification Checklist
- Verify the total annual compensation cost increase for the CEO ($74,543 immediate increase).
- Confirm the new expiration date of the CEO's employment contract (July 1, 2029).
- Review the full text of Exhibit 10.4 (Amendment No. 7) for any undisclosed clauses or conditions.
- Check subsequent filings for the scheduled salary adjustment effective April 1, 2027.