UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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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
(b) and (e). The employment of Stephen Boettinger, Senior Vice President, General Counsel and Secretary of REV Group, Inc. (the “Company”) terminated effective April 28, 2023 (the “Separation Date”).
In connection with Mr. Boettinger’s termination of employment, the Company entered into a separation agreement with Mr. Boettinger (the “Separation Agreement”). Under the Separation Agreement, Mr. Boettinger will receive separation benefits consisting of 12 months of salary continuation at his final base rate of pay and a monthly payment equal to the employer portion of monthly health premiums for up to 12 months, consistent with the Company’s severance policy, and 23,586 unvested shares of restricted stock previously granted to Mr. Boettinger that are scheduled to vest in December 2023 will remain outstanding and eligible to vest until December 31, 2023 as if Mr. Boettinger continued to provide services through such date. The Separation Agreement also includes confidentiality and mutual non-disparagement covenants, as well as a release of claims in favor of the Company and its affiliates. In addition, the Separation Agreement includes that following the Separation Date, Mr. Boettinger will serve as a consultant to the Company for up to three months, and for such services, the Company will pay Mr. Boettinger a consulting fee at an hourly rate of $500, and provided Mr. Boettinger makes himself reasonably available to perform requested consulting services, the aggregate amount of such consulting fees will be no less than $100,000. The foregoing is only a summary of the Separation Agreement and is qualified in its entirety by reference to the full and complete terms of the Separation Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 8.01 Other Events
The Company has hired Paul Robinson as interim general counsel.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Exhibit Number |
Description | |
| 10.1 | Separation Agreement and General Release, dated as of April 28, 2023, between REV Group, Inc. and Stephen Boettinger. | |
| 104 | Cover Page Interactive Data File (formatted in iXBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| REV Group, Inc. | |||
| Date: April 28, 2023 | By: | /s/ Mark A. Skonieczny | |
| Mark A. Skonieczny | |||
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Interim Chief Executive Officer Chief Financial Officer (Principal Executive and Financial Officer) |
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