UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
|
Date of Report (Date of earliest event reported): January 10, 2023 |
SKYLINE CHAMPION CORPORATION
(Exact name of Registrant as Specified in Its Charter)
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Indiana | 001-04714 | 35-1038277 |
(State or Other Jurisdiction
of Incorporation) | (Commission File Number) | (IRS Employer
Identification No.) |
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755 West Big Beaver Road, Suite 1000 | |
Troy, Michigan | | 48084 |
(Address of Principal Executive Offices) | | (Zip Code) |
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Registrant’s Telephone Number, Including Area Code: (248) 614-8211 |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
| | Trading
Symbol(s) | |
Name of each exchange on which registered
|
Common Stock | | SKY | | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 10, 2023, the Compensation Committee (the “Committee”) of Skyline Champion Corporation (the “Company”) approved the following increases in compensation for certain officers, effective January 9, 2023:
Base Salary Increases
The Committee approved the following base salary increases:
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Name and Title | Former Salary | Base Salary as of January 9, 2023 |
Mark Yost, President and Chief Executive Officer | $ 710,000 | $ 750,000 |
Laurie Hough, Executive Vice President, Chief Financial Officer and Treasurer | $ 475,000 | $ 500,000 |
Joseph Kimmell, Executive Vice President, Operations | $ 375,000 | $ 385,000 |
Tim Larson, Chief Growth Officer | $ 390,000 | $ 400,000 |
Wade Lyall, Executive Vice President, Sales and Business Development | $ 375,000 | $ 385,000 |
Robert Spence, Senior Vice Present, General Counsel and Secretary | $ 350,000 | $ 400,000 |
Timothy Burkhardt, Vice President and Controller | $ 280,000 | $ 300,000 |
Short-Term Incentive Cash Compensation
The Committee approved an increase in the annual incentive target percentage of the short-term incentive cash compensation for certain officers. Mr. Yost was increased from 100% to 133%, Ms. Hough was increased from 80% to 125%, Messrs. Kimmell and Lyall were increased from 80% to 140% and Mr. Spence was increased from 80% to 85%.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | | Skyline Champion Corporation |
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Date: | January 11, 2023 | By: | /s/ Robert Spence |
| | | Robert Spence
Senior Vice President,
General Counsel and Secretary |
