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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 October 28, 2020, Mr. David C. Sunkle, Vice President, Research, Engineer and Manufacturing, of Preformed Line Products Company (the “Company”), announced his plans to retire from such position with the Company on December 31, 2020. Mr. Sunkle has been employed at the Company for 42 years, holding various positions. Mr. John Hostetter and Mr. John Olenik will be his successor, with Mr. Olenik (current Vice President – Engineering) continuing to be responsible for all Research and Engineering, and Mr. Hofstetter becoming Executive Vice President – US Operations, overseeing Engineering and Manufacturing.
Additionally, on October 28, 2020, the Board of Directors of the Company approved appointing Mr. Sunkle to the Board of Directors, for a term commencing January 1, 2021 and ending when his successor has been duly elected and qualified at the annual meeting of shareholders in 2022 or until his earlier resignation or removal. The size of the Board of Directors will increase from eight to nine members upon the effectiveness of Mr. Sunkle’s appointment. Mr. Sunkle will receive an annual retainer fee of $40,000. Additionally, the Audit Committee approved, and the Company entered into, a contract with Mr. Sunkle under which he will provide consulting services to the Company on a limited basis following his retirement.
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.
| Preformed Line Products Company | |||
| Dated: November 6, 2020 | By: | /s/ Caroline Vaccariello | |
| Caroline Vaccariello | |||
| General Counsel and Corporate Secretary |
