Green Plains Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Green Plains Inc. on May 9, 2016, reporting events that occurred on May 5, 2016. The filing pertains to corporate governance changes, specifically the appointment of a new independent director to the Board of Directors.
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 personnel appointments and does not contain financial performance data.
Material Changes
The primary material change reported is the appointment of Ejnar A. Knudsen III as an independent member of the Board of Directors, effective May 5, 2016. Mr. Knudsen fills a vacant position, bringing the total number of directors to ten. His term is set to expire at the 2017 annual meeting.
Management Commentary and Compensation
Mr. Knudsen will be compensated according to the company's standard director compensation schedule, which includes:
- An annual cash retainer of $75,000.
- An annual restricted stock grant valued at $100,000, measured on the date of the grant.
There are no undisclosed arrangements or transactions involving Mr. Knudsen requiring disclosure under Item 404(a) of Regulation S-K. The filing highlights Mr. Knudsen's extensive background in agriculture and finance, including roles as founder of AGR Partners, board member of Ridley Corp and Opal Foods, and former executive at Western Milling and Rabobank.
Investor Verification Checklist
- Verify the effective date of Mr. Knudsen's board appointment (May 5, 2016).
- Confirm the total number of directors on the board following this appointment (10).
- Review the specific terms of the director compensation schedule ($75,000 cash + $100,000 stock).
- Check for any potential conflicts of interest given Mr. Knudsen's roles with other agricultural entities (e.g., Ridley Corp, Opal Foods, Materra).