8-KLeadership ChangesExhibits & Filings

CARPENTER TECHNOLOGY CORP 8-K Report, Executive Changes (Oct 16, 2015)

Filed October 16, 2015For Securities:CRS

Summary

Carpenter Technology Corporation (CRS) announced a significant executive change with the appointment of Damon Audia as its new Senior Vice President and Chief Financial Officer (CFO), effective October 19, 2015. Mr. Audia brings a wealth of experience from his previous roles at The Goodyear Tire & Rubber Company, where he held senior finance and business development positions. This appointment signals a strategic move to bolster the company's financial leadership. Investors should note the comprehensive compensation package offered to Mr. Audia, which includes a base salary of $430,000, eligibility for an executive bonus, and significant equity awards valued at $350,000 at the grant date, with potential for additional annual grants. The company also highlighted that Mr. Audia has no disclosed family relationships or material indirect interests in transactions with the company, ensuring a clear and focused transition into his new role.

Key Highlights

  • 1Damon Audia appointed as Senior Vice President and Chief Financial Officer, effective October 19, 2015.
  • 2Mr. Audia has extensive financial experience, including Senior Vice President of Finance at The Goodyear Tire & Rubber Company.
  • 3Annual base salary for Mr. Audia is $430,000.
  • 4Mr. Audia is eligible for an Executive Bonus Compensation Plan with a target bonus of 80% of his salary.
  • 5Initial equity awards granted to Mr. Audia have an aggregate grant date fair value of $350,000.
  • 6Potential for substantial annual equity grants, anticipated at $700,000.
  • 7No family relationships or material indirect interests reported between Mr. Audia and company directors/officers.

Frequently Asked Questions

Damon Audia has been appointed as the new Senior Vice President and Chief Financial Officer of Carpenter Technology Corporation, effective October 19, 2015.

Mr. Audia has a strong financial background, most recently serving as Senior Vice President of Finance in North America Business at The Goodyear Tire & Rubber Company. His prior experience at Goodyear and Delphi Corporation spans various treasury, finance, and business development roles.

Mr. Audia's compensation includes an annual base salary of $430,000, eligibility for an executive bonus plan (target 80% of salary), initial equity awards valued at $350,000, and anticipated annual equity grants of approximately $700,000. He is also eligible for other executive benefits.

The filing states that there are no family relationships between Mr. Audia and any director or executive officer of the Company, and he has no indirect material interest in any transactions requiring disclosure.