Business Context and Reporting Period
This Form 8-K Current Report was filed by Cooper-Standard Holdings Inc. on August 6, 2008. The filing primarily addresses corporate governance changes, specifically the election of a new director and associated compensatory arrangements.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel and governance rather than financial performance.
Material Changes
- Director Election: Stephen A. Van Oss was elected as a director of Cooper-Standard Holdings Inc. and its subsidiary, Cooper-Standard Automotive Inc.
- Committee Appointment: Mr. Van Oss was appointed Chairman of the Audit Committee.
- Compensatory Grant: The Board authorized the grant of options to purchase 2,000 shares of common stock under the 2004 Stock Incentive Plan.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on business risks. The only forward-looking detail provided relates to the vesting schedule of the stock options granted to Mr. Van Oss: 50% on December 31, 2008, and 50% on December 31, 2009. The options are exercisable for ten years, subject to earlier expiration upon resignation or termination.
Investor Verification Checklist
- Verify the fair market value of the common stock on August 6, 2008, to determine the exercise price of the granted options.
- Review the attached press release (Exhibit 99.1) for additional biographical information on Stephen A. Van Oss.
- Confirm the total number of shares available under the 2004 Stock Incentive Plan to assess the impact of this grant.