Date of Report (Date of earliest event reported): September 22, 2021
_____________________
STEELCASE INC.
(Exact name of registrant as specified in its charter)
Michigan
1-13873
38-0819050
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS employer identification number)
901 44th Street SE
Grand Rapids,
Michigan
49508
(Address or principal executive offices)
(Zip code)
(616) 247-2710
(Registrant's telephone number, including area code)
None
(Former name, former address and former fiscal year, 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 (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 CRF 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))
Securities registered pursuant to section 12(b) of the Act:
Title of each class
Trading symbol(s)
Name of each exchange on which registered
Class A Common Stock
SCS
New York Stock Exchange
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.
(e) On September 22, 2021, the Compensation Committee of the Board of Directors of Steelcase Inc. (the “Company”) approved the following changes to the compensation of Allan W. Smith, Jr., in connection with his promotion to Senior Vice President, Chief Revenue Officer, which is effective on October 4, 2021: (1) his annual base salary was increased to $500,000, (2) his short-term incentive award target was increased to 80% of his base salary, (3) his long-term incentive award target was increased to 150% of his base salary, and (4) he received an award of 18,500 restricted units which will vest on the third anniversary of the grant date, subject to the conditions of forfeiture set forth in the award agreement. A copy of the letter agreement between Mr. Smith and the Company dated September 22, 2021 is attached as Exhibit 10.1 and incorporated herein by reference.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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.
STEELCASE INC.
By:
/s/ Robin L. Zondervan
Robin L. Zondervan Vice President, Corporate Controller & Chief Accounting Officer
