8-KLeadership ChangesExhibits & Filings

ATI INC 8-K Report, Executive Changes (Oct 21, 2021)

Filed October 21, 2021For Securities:ATI

Summary

ATI Inc. announced a significant executive leadership change, appointing Kimberly A. Fields as the new Executive Vice President and Chief Operating Officer, effective January 1, 2022. Ms. Fields, currently serving as Executive Vice President for both of the Company's business segments, brings extensive experience from various industrial and manufacturing leadership roles, including her prior positions at IDEX Corporation, EVRAZ, GE Energy, and Alcoa. This appointment signals a focus on operational leadership within ATI. Ms. Fields' compensation package reflects her new role, with a base salary of $660,000 and substantial incentive opportunities under the Annual Incentive Plan (100% of base salary target) and Long-Term Incentive Plan (at least 250% of base salary grant-date fair market value). Investors should view this as a strategic move to strengthen operational execution and leverage Ms. Fields' proven track record in driving growth and efficiency within complex industrial organizations.

Key Highlights

  • 1Kimberly A. Fields appointed Executive Vice President and Chief Operating Officer, effective January 1, 2022.
  • 2Ms. Fields has been with ATI since April 2019, holding executive leadership roles across both of the Company's business segments.
  • 3Prior to ATI, Ms. Fields held senior leadership positions at IDEX Corporation, EVRAZ, GE Energy, and Alcoa, demonstrating broad industry experience.
  • 4Ms. Fields' new role includes a base annual salary of $660,000.
  • 5She is eligible for a 2022 target award under the Annual Incentive Plan equal to 100% of her base salary.
  • 6Her 2022 Long-Term Incentive Plan award will have a grant-date fair market value of at least 250% of her base salary.
  • 7Ms. Fields is also a member of the Board of Directors of Silgan Holdings.

Frequently Asked Questions

This 8-K filing primarily announces the appointment of Kimberly A. Fields as ATI Inc.'s new Executive Vice President and Chief Operating Officer, effective January 1, 2022, and details her compensation package.

Ms. Fields has extensive experience in industrial and manufacturing sectors, holding executive roles at ATI since 2019. Prior to ATI, she served in leadership positions at IDEX Corporation, EVRAZ, GE Energy, and Alcoa, among others. She also serves on the Board of Directors of Silgan Holdings.

Her compensation includes a base salary of $660,000, with a 2022 target bonus opportunity of 100% of base salary under the Annual Incentive Plan. She will also receive a Long-Term Incentive award with a grant-date fair market value of at least 250% of her base salary.

The appointment of Ms. Fields to Chief Operating Officer signifies a strengthened focus on operational leadership and execution within ATI. Her broad experience suggests a strategic move to leverage her expertise in driving efficiency and growth across the company's business segments.