8-KThe WireRed Alert
Executive Change · Reg FD Disclosure
Filed Jul 11, 2023 · 3y ago · Accession 0001104659-23-079821
Plain English
Material event — a significant development the company must disclose promptly.
Read the source below for the full document.
Filing text
View original ↗UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
July 11, 2023
Date of report (Date of earliest event reported)
Valmont Industries, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
1-31429
47-0351813
(Commission File Number)
(IRS Employer Identification No.)
15000 Valmont Plaza
Omaha , NE
68154
(Address of Principal Executive Offices)
(Zip Code)
( 402 ) 963-1000
(Registrant’s Telephone Number, Including
Area Code)
(Former Name or Former Address, if Changed
Since Last Report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which registered
Common Stock, $1.00 par value
VMI
New York Stock Exchange
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 ( see General Instruction A.2. below):
¨ 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))
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 11, 2023, Valmont Industries, Inc. announced that its Board
of Directors has named Avner M. Applbaum, current Executive Vice President and Chief Financial Officer, as President and Chief Executive
Officer, effective immediately. Mr. Applbaum succeeds Stephen G. Kaniewski, CEO since December 31, 2017, who is stepping down to pursue
other opportunities and also resigning as a member of the Board of Directors. Mr. Kaniewski’s departure is not related to the operations,
policies, or practices of the company or any issues regarding accounting policies or practices. Valmont and Mr. Kaniewski are discussing
his departure terms.
The company also announced the appointment of Timothy P. Francis, current
Senior Vice President and Finance Business Partner, Global Operations, as interim Chief Financial Officer.
Mr. Applbaum, age 52, has served as Valmont’s Executive Vice
President and Chief Financial Officer since March 2020. Previously he served as Chief Financial Officer and Chief Operating Officer of
Double E Company, an equipment manufacturer, from 2017 to March 2020.
Mr. Francis, age 46, has served as Senior Vice President and Finance
Business Partner, Global Operations since June 2022. Previously he served as Senior Vice President and Controller from June 2014
to June 2022.
Item 7.01. Regulation FD Disclosure
On July 11, 2023, Valmont issued a press release announcing the appointment
of Mr. Applbaum as President and Chief Executive Officer, the departure of Mr. Kaniewski, and the appointment of Mr. Francis as interim
Chief Financial Officer. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
The information in this Item 7.01 is being furnished and shall not
be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to
the liabilities of that section. The information in this Item 7.01 shall not be incorporated by reference into any registration statement
or other document pursuant to the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
99.1
Press Release
104
Cover Page Interactive File (the cover page XBRL tags are embedded in 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.
Valmont Industries, Inc.
Date: July 11, 2023
By:
/s/ Avner Applbaum
Name: Avner Applbaum
Title: President and Chief Executive Officer
Filing details
- Company
- VALMONT INDUSTRIES INC
- Ticker
- VMI
- CIK
- 102729
- Form type
- 8-K
- Filing date
- Jul 11, 2023
- Report date
- Jul 11, 2023
- Document
- tm2320998d1_8k.htm
- Size
- 228 KB