Terex Corporation Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Terex Corporation on March 6, 2026, covering events occurring on March 2, 2026. The filing addresses executive leadership changes within the finance function as part of the ongoing integration following the company's recent merger with REV Group, Inc.
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 changes and associated compensation arrangements.
Material Changes
- Departure: Stephen Johnston ceased serving as Vice President, Chief Accounting Officer, and Controller effective March 2, 2026. The departure is not due to any disagreement regarding operations, policies, or practices.
- Appointment: Joseph LaDue was appointed as the new VP, Chief Accounting Officer, and Controller effective March 2, 2026. Mr. LaDue previously held similar roles at REV Group, Inc. since 2018 and has 13 years of prior experience at KPMG LLP.
Compensation and Outlook
As part of the appointment, Mr. LaDue's compensation package includes:
- Base Salary: $357,500 annually, subject to annual review.
- Incentive Bonus: Target set at 40% of annual salary.
- Long-Term Incentives: An initial award of $139,000. Future annual awards are contemplated to be approximately 85% of his annual base salary, subject to performance.
The filing confirms no family relationships between Mr. LaDue and other directors or officers, and no undisclosed material transactions exist.
Investor Verification Checklist
- Verify the timeline of the Terex and REV Group merger integration to understand the scope of leadership changes.
- Confirm the transition plan details for Stephen Johnston's departure to ensure continuity in financial reporting.
- Review future proxy statements for the actual vesting and performance metrics tied to Mr. LaDue's long-term incentive awards.