UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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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 August 21, 2024, the board of directors of American Vanguard Corporation (“Registrant” or the “Company”) approved a compensation plan for the four persons (David Johnson (CFO), Timothy Donnelly (CIO and Acting CEO), Shirin Khosravi (CHRO) and Mark Bassett (director on special assignment)) who are currently managing the office of the chief executive officer (“OCEO”) during the pendency of a search for a new CEO. In light of the fact that such persons are currently performing the duties of the recently departed CEO, COO and CTO in addition to their other duties, each shall receive a payment in the amount of $125K on each of September 30, 2024, and December 31, 2024. In addition, Mr. Bassett shall be compensated as a contractor as per the terms of the Company’s standard contractor agreement for a term of six months commencing July 1, 2024, and will receive a flat monthly fee of $29,200 which approximates the average base wage of the other three members of the OCEO.
The information furnished under Item 5.02, Item 8.01 and Item 9.01 of this Current Report on Form 8-K, including Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, or into another filing under the Exchange Act, except as shall be set forth by specific reference in such filing.
| Item 8.01 | Other Events |
On August 21, 2024, the Company issued a press release in which it announced its voluntary withdrawal of registrations of its Dacthal herbicide products. The full text of the press release is linked hereto as Exhibit 99.1 and is hereby incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit 99.1 | Press release dated August 21, 2024, of Registrant regarding its voluntary withdrawal of Dacthal registrations. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, American Vanguard Corporation has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| AMERICAN VANGUARD CORPORATION | ||||||
| Date: August 23, 2024 | ||||||
| By: | /s/ Timothy J. Donnelly | |||||
| Timothy J. Donnelly | ||||||
| Acting Chief Executive Officer, Chief Information Officer, General Counsel & Secretary | ||||||