Business Context and Reporting Period
This Form 8-K Current Report was filed by Koppers Holdings Inc. on December 3, 2021, covering events reported as of December 1, 2021. The filing addresses Item 5.02 regarding the appointment of certain officers and changes to their compensatory arrangements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation adjustments.
Material Changes
The primary material change reported is the appointment of Jimmi Sue Smith as Chief Financial Officer and Treasurer of Koppers Holdings Inc. and Koppers Inc., effective January 1, 2022. The Management Development and Compensation Committee approved the following compensation changes effective January 1, 2022:
- Base Salary: Increased to $375,000 annually.
- Annual Cash Incentive: The target multiplier increased from 40% to 60% of the annual base salary.
- Long-Term Incentive Award: The target multiplier increased from 100% to 125% of the annual base salary.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on operations, risks, contingencies, or unusual items.
Investor Verification Checklist
- Verify the effective date of Jimmi Sue Smith's appointment as CFO and Treasurer (January 1, 2022).
- Confirm the new base salary of $375,000 and the updated incentive multipliers (60% cash, 125% long-term).
- Review the Company's proxy statement or subsequent filings for the full terms of the long-term incentive plan.