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 May 28, 2024, Superior Industries International, Inc. (the “Company” or “Superior”) appointed Stacie Schulz as its Vice President, Controller and Chief Accounting Officer, effective May 28, 2024. Ms. Schulz will report directly to Tim Trenary, Executive Vice President and Chief Financial Officer.
Ms. Schulz, 45, served as Executive Director and Assistant Controller, Accounting and Reporting of Tenneco, Inc. (“Tenneco”), a global automotive components original equipment manufacturer and distributor to the aftermarket, from March 2020 to May 2024 and as Executive Director of Accounting and Reporting of Tenneco from May 2019 to March 2020. She was previously the Director Accounting and Reporting of Federal-Mogul LLC, a global manufacturer and supplier of vehicle components to original equipment manufacturers and the aftermarket, from 2015 to 2019. Prior to that, she served as an Audit Senior Manager at Deloitte and Touche LLC, where she began her career in September 2002. Ms. Schulz holds a Bachelor of Arts degree in Accounting and a Master of Science degree in accounting, both from Michigan State University. In addition, she is a certified public accountant.
In this role, Ms. Schulz will be responsible for the Company’s global accounting and external financial reporting.
There are no transactions since the beginning of the Company’s last fiscal year in which the Company is a participant and in which Ms. Schulz or any members of her immediate family have any interest that are required to be reported under Item 404(a) of Regulation S-K. No family relationships exist between Ms. Schulz and any of Superior’s directors or executive officers. The appointment of Ms. Schulz was not pursuant to any arrangement or understanding between her and any person, other than a director or executive officer of Superior acting in his or her official capacity.
Ms. Schulz will receive an annual base salary of $350,000. She may receive annual bonuses based on attainment of performance goals, determined by the Company’s independent Human Capital and Compensation Committee (the “Committee”), in the amount of 50% of annual base salary. Ms. Schulz will also be eligible to receive a long-term cash performance bonus up to 50% of her base salary. She will receive a car allowance of $800 per month, and she is entitled to participate in all benefit plans generally made available to executive officers of the Company.
A copy of the Offer Letter of Employment, dated April 25, 2024 (the “Offer Letter”), is attached hereto as Exhibit 10.1. The description of the Offer Letter set forth above is qualified in its entirety by reference to Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits:
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Exhibit Number |
Exhibit Description | |
| 10.1 | Offer Letter of Employment, dated April 25, 2024 between Superior Industries International, Inc. and Stacie Schulz. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
| SUPERIOR INDUSTRIES INTERNATIONAL, INC. | ||||
| (Registrant) | ||||
| Date: May 29, 2024 |
/s/ David M. Sherbin | |||
| David M. Sherbin | ||||
| Senior Vice President, General Counsel and Chief Compliance Officer |