Business Context and Reporting Period
Company: Myers Industries, Inc. (NYSE: MYE)
Filing Type: Form 8-K (Current Report)
Date of Report: September 5, 2025
Subject: Appointment of Executive Vice President and Chief Financial Officer (CFO).
Key Financial Metrics
This filing does not report operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation and personnel changes.
Material Changes
Executive Leadership Change:
- New Appointment: Samantha Rutty appointed as Executive Vice President and Chief Financial Officer, effective September 22, 2025.
- Transition: Daniel Hoehn, who served as Interim CFO since May 2, 2025, will transition to Vice President and Corporate Controller effective September 22, 2025.
- Background: Ms. Rutty previously served as VP and CFO, North America, at The Brink's Company and held various finance leadership roles at Eaton Corporation for over 20 years.
Compensation and Management Commentary
Compensation Package for Samantha Rutty:
- Base Salary: $450,000 annually, subject to review.
- Sign-on Bonus: $580,000 total, payable in two installments of $290,000 (one at start, one at six-month anniversary contingent on employment).
- Restricted Stock Units (RSUs): Grant date value of $315,000, vesting pro-rata over two years.
- Performance-Based Stock Units: Target grant date value of $315,000, vesting on March 16, 2028, based on financial metrics.
- Annual Incentive: Target of 70% of base salary (pro-rated for 2025).
- Long-Term Incentive (2026+): Target award value of 140% of base salary (50% RSUs, 50% performance units).
Restrictive Covenants: Ms. Rutty has entered into a Non-Competition, Non-Solicitation, and Confidentiality Agreement effective September 22, 2025, including a 12-month non-compete period following termination.
Investor Verification Checklist
- Verify the exact vesting schedule and performance metrics for the $315,000 performance-based stock units in the attached Exhibit 10.1.
- Review the full text of the Non-Competition and Confidentiality Agreement (Exhibit 10.1) for specific termination conditions.
- Confirm the transition timeline for Daniel Hoehn's role change to ensure continuity in financial reporting.
- Check subsequent filings for the impact of this appointment on the company's long-term strategic financial planning.