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) August 12, 2015
MYERS INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
| Ohio | 1-8524 | 34-0778636 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification Number) |
| 1293 South Main Street, Akron, OH | 44301 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, including area code (330) 253-5592
(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)) |
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 12, 2015, Myers Industries, Inc. (the “Company”) executed an amendment (the “Amendment”) to its Executive Supplemental Retirement Plan (the “SERP”). The Amendment revises the rate that is used to calculate the present value of a lump sum payable under the SERP to a rate determined by reference to the applicable segment spot rates under Section 417(e) of the Internal Revenue Code as of the participant’s retirement date or date of other separation from service.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment attached to this Form 8-K as Exhibit 10.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| 10.1 | Amendment to the Myers Industries, Inc. Executive Supplemental Retirement Plan, effective August 12, 2015. |
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.
| Myers Industries, Inc. | ||||||||
| (Registrant) | ||||||||
| DATE | August 14, 2015 |
By: | /s/ Greggory W. Branning | |||||
| Greggory W. Branning | ||||||||
| Senior Vice President, Chief Financial Officer and Corporate Secretary | ||||||||
Exhibit 10.1
AMENDMENT TO THE
MYERS INDUSTRIES, INC.
EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN
WHEREAS, Myers Industries, Inc. (the “Employer”) established the Myers Industries, Inc. Executive Supplemental Retirement Plan (the “Plan”), effective January 1, 1997;
WHEREAS, pursuant to Section 10.7 of the Plan, the Employer may amend or modify any provision of the Plan, provided that no such action shall reduce the benefits or rights of any Participant or his Beneficiary accrued prior to the date of any such amendment; and
WHEREAS, the Employer desires to amend the Plan with respect to the reference to the interest rate used for purposes of calculating an Actuarial Equivalent form of benefit.
NOW, THEREFORE, the Plan is hereby amended effective August 12, 2015 as follows:
Section 2.1 of the Plan shall be amended in its entirety to read as follows:
“Section 2.1 The term “Actuarial Equivalent” shall mean a benefit of equivalent value when computed using a per annum interest rate as determined by reference to the applicable segment spot rates under Section 417(e) of the Internal Revenue Code as of the Participant’s Retirement Date or date of other separation from service.”
All other provisions of the Plan are unchanged and shall continue in full force and effect.
IN WITNESS WHEREOF, this Amendment has been duly adopted and executed as of this 12 day of August, 2015.
| “EMPLOYER” MYERS INDUSTRIES, INC. | ||
| /s/ Greggory W. Branning | ||
| By: | Greggory W. Branning | |
| Senior Vice President, Chief Financial Officer and Corporate Secretary | ||