UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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ITEM 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 27, 2020, Frank A. Bozich, the Chief Executive Officer of Trinseo. S.A. (the “Company”), voluntarily agreed to temporarily reduce his base salary by 50% during the second quarter of 2020 to support the Company’s initiatives in light of the uncertainty created by the effects of the COVID-19 novel coronavirus and its economic impact on the Company.
The Company’s other named executive officers also agreed to temporarily reduce their base salaries by the percentage listed below, during the second quarter 2020.
David P. Stasse, Executive Vice President and Chief Financial Officer | 25% |
Angelo Chaclas, Senior Vice President and Chief Legal Officer | 25% |
Timothy Stedman, Senior Vice President, Strategy and Corporate Development | 10% |
The Company entered into a letter agreement with each of Messrs. Bozich, Stasse, Chaclas and Stedman detailing the terms of their salary reductions. This summary description is qualified in its entirety by the terms of the letter agreements, a form of which will be filed by the Company as an exhibit to its Quarterly Report on Form 10-Q for the quarter ended March 31, 2020.
SIGNATURE
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.
TRINSEO S.A. | ||
By: | /s/ Angelo N. Chaclas | |
Name: | Angelo N. Chaclas | |
Title: | Senior Vice President, Chief Legal Officer, | |
Date: March 27, 2020 | ||