8-KLeadership ChangesMaterial AgreementsExhibits & Filings

O REILLY AUTOMOTIVE INC 8-K Report, Material Agreement (May 25, 2006)

Filed May 25, 2006For Securities:ORLY

Summary

O'Reilly Automotive, Inc. (ORLY) filed an 8-K on May 24, 2006, to announce a significant executive leadership change. Tom McFall was appointed as the new Senior Vice President Finance and Chief Financial Officer (CFO), effective May 31, 2006. This appointment marks a transition for the company, with the outgoing CFO, Jim Batten, retaining the role of Treasurer to ensure a smooth handover and continue his involvement in investor relations and financial reporting. Mr. McFall brings substantial experience from the automotive aftermarket sector, having previously served as CFO for CSK Auto's Midwest Operation and holding various finance roles at Murray's Discount Auto Stores. His compensation package includes a base salary, performance-based bonus eligibility, and a stock option award, reflecting the company's investment in experienced financial leadership. The company emphasized McFall's industry expertise and Batten's continued contribution in a supporting role during this transition.

Key Highlights

  • 1Appointment of Tom McFall as Senior Vice President Finance and Chief Financial Officer (CFO), effective May 31, 2006.
  • 2Jim Batten will transition from CFO to Treasurer, retaining responsibilities in investor relations and financial reporting.
  • 3Mr. McFall brings significant experience from CSK Auto and Murray's Discount Auto Stores in the automotive aftermarket industry.
  • 4McFall's compensation includes a $200,000 annual base salary, eligibility for a 30% target bonus, and a 50,000 share stock option award.
  • 5The company highlighted McFall's accounting background, including his CPA certification and prior experience with Ernst & Young.
  • 6Jim Batten will remain involved to ensure a smooth transition and will eventually move to a less than full-time role.
  • 7The filing incorporates a press release dated May 24, 2006, detailing the executive appointment.

Frequently Asked Questions

Tom McFall has been appointed as the new Senior Vice President Finance and Chief Financial Officer (CFO), effective May 31, 2006.

Jim Batten will transition from CFO to Treasurer. He will continue to be involved with investor relations and financial reporting, and will assist Mr. McFall during the transition.

Tom McFall is 36 years old and has extensive experience in the automotive aftermarket industry. He joins O'Reilly from CSK Auto, where he was CFO – Midwest Operation. Prior to that, he served Murray's Discount Auto Stores for eight years in various finance leadership roles, including CFO. He also worked as an Audit Manager with Ernst & Young, LLP and is a Certified Public Accountant (CPA).

Tom McFall will receive an annual base salary of $200,000, will be eligible to participate in the Company's performance incentive plan with an annual target bonus of 30% of his base salary, and will receive a non-qualified stock option award for 50,000 shares of the Company's common stock. He will also be reimbursed for certain customary relocation expenses.