Holley Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Holley Inc. on April 7, 2026. The filing discloses the departure of a senior executive and the terms of the associated separation agreement.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity metrics. The document focuses exclusively on executive compensation and separation terms.
Material Changes
The primary material event is the departure of Carly Kennedy, who served as Executive Vice President, General Counsel, and Corporate Secretary for four years. She will remain employed until May 15, 2026, to facilitate an orderly transition.
Separation Terms and Compensation
- Salary Continuation: Gross payments of $164,000 (equal to six months of base salary), payable in installments over six months following the separation date.
- Bonus: Eligibility for a pro-rated 2026 annual bonus, contingent on company financial results, payable by March 15, 2027.
- Equity: Pro rata vesting of the first tranche of restricted stock units (RSUs) granted on August 12, 2025. All other outstanding awards under the 2021 Omnibus Incentive Plan will terminate.
- Change in Control: If a change in control occurs within three months of the separation date, salary continuation increases to $328,000 (12 months of base salary) payable over 12 months.
Investor Verification Checklist
- Verify the exact vesting schedule and share count for the pro-rated RSUs granted on August 12, 2025.
- Review the full text of the Separation Agreement and General Release (Exhibit 10.1) for specific release conditions and non-compete clauses.
- Confirm the timeline for the appointment of a new General Counsel and Corporate Secretary.
- Monitor upcoming SEC filings for any impact on the 2026 annual bonus pool due to the pro-rated payout.