Business Context and Reporting Period
This Form 8-K Current Report was filed by Cooper-Standard Holdings Inc. on February 12, 2024. The filing discloses the appointment of a new senior executive officer 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 exclusively on personnel changes and compensation adjustments rather than financial performance metrics.
Material Changes
The primary material change reported is the appointment of Alison Nudd as Vice President, Chief Accounting Officer, effective March 1, 2024. Ms. Nudd previously served as the Company's Vice President, Global Internal Audit and Compliance since August 2022. In connection with this appointment, the Compensation Committee approved the following changes to her compensation:
- Base Salary: Increased from $265,000 to $312,000 annually.
- Annual Incentive Award: Target increased from 35% to 40% of base salary for 2024.
- Long-Term Incentive: Target increased from $120,000 to $140,000 for the 2024-2026 period.
Guidance, Outlook, and Risks
The filing does not contain updated financial guidance, outlook, or management commentary regarding business strategy. No new risks, contingencies, or unusual items were disclosed in this report. The appointment was made pursuant to Regulation FD disclosure.
Investor Verification Checklist
- Verify the effective date of Alison Nudd's new role (March 1, 2024).
- Confirm the specific compensation adjustments approved by the Compensation Committee.
- Review Ms. Nudd's prior experience at Owens Corning and her tenure within Cooper-Standard since 2020.
- Check for any related party transactions or family relationships, which the filing explicitly states do not exist.