Business Context and Reporting Period
This Form 8-K is a current report filed by Gardner Denver Holdings, Inc. on November 28, 2018. The filing addresses a significant change in executive leadership, specifically the appointment of a new Chief Financial Officer (CFO) and the retirement of the incumbent.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on personnel changes and associated compensation terms.
Material Changes
- Executive Appointment: The Board of Directors appointed Neil D. Snyder as Chief Financial Officer, effective January 1, 2019.
- Executive Departure: Philip T. Herndon will retire from his position as CFO effective December 31, 2018. He will remain an employee through 2019 to assist with the transition.
- Compensation Terms: Mr. Snyder's compensation package includes:
- Annual base salary: $425,000.
- Annual bonus opportunity: Target of 65% of base salary.
- Long-term equity incentive award (2019): Target value of $725,000.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of market risks. It notes that the selection of Mr. Snyder was not pursuant to any arrangement with other persons and confirms no family relationships exist between Mr. Snyder and other directors or officers. The filing incorporates a press release (Exhibit 99.1) regarding the appointment.
Investor Verification Checklist
- Verify the effective dates of the CFO transition (Jan 1, 2019 for Snyder; Dec 31, 2018 for Herndon).
- Review the attached press release (Exhibit 99.1) for additional context on the leadership change.
- Confirm the specific performance targets for Mr. Snyder's bonus, as these are established by the Compensation Committee and not detailed in this text.
- Note that this filing does not provide updated financial results; refer to the most recent 10-Q or 10-K for financial metrics.