UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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. |
(e) On December 15, 2023, the Compensation and Executive Development Committee of the Board of Directors of Nucor Corporation adopted and approved an amendment and restatement of the Nucor Corporation Supplemental Retirement Plan for Executive Officers (the “SERP”), effective immediately. The amendment and restatement of the SERP changed the age eligibility requirement for a normal retirement benefit and incorporated into one document the terms of a prior amendment to the SERP.
An Executive Officer will become eligible to receive a normal retirement benefit under the amended and restated SERP upon his or her retirement after the earlier of (a) attaining age 60 or (b) attaining age 55 and completing seven years of service as an Executive Officer. An Executive Officer became eligible to receive a normal retirement benefit under the SERP prior to its amendment and restatement upon his or her retirement after the earlier of (a) attaining age 60 or (b) attaining age 58 and completing seven years of service as an Executive Officer. The normal retirement benefit, which was not changed by the amendment and restatement of the SERP, is a monthly benefit equal to 3.36 times the Executive Officer’s monthly base salary payable for 24 months.
If an Executive Officer has not satisfied the eligibility requirement(s) for a normal retirement benefit at the time of his or her termination of employment and has attained age 55, the monthly benefit payable under the SERP will be equal to the Executive Officer’s normal retirement benefit reduced by 1/84th for each month the Executive Officer’s termination precedes the date the Executive Officer would have completed seven years of service as an Executive Officer. If the Executive Officer, however, has not attained age 55, the monthly benefit payable under the SERP will be equal to fifty percent (50%) of the benefit the Executive Officer would have received on early retirement had the Executive Officer attained age 55 at the time of his or termination of employment.
The foregoing description of the amendment and restatement of the SERP is qualified in its entirety by reference to the full text of such amendment and restatement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| 10.1 | Nucor Corporation Supplemental Retirement Plan for Executive Officers, as amended and restated effective December 15, 2023 (#) | |
| 104 | Cover Page from this Current Report on Form 8-K, formatted in Inline XBRL | |
| (#) | Indicates a management contract or compensatory plan or arrangement. |
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.
| NUCOR CORPORATION | ||||||
| Date: December 15, 2023 | By: | /s/ Stephen D. Laxton | ||||
| Stephen D. Laxton | ||||||
| Chief Financial Officer, Treasurer and Executive Vice President | ||||||