8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report:    January 15, 2021

(Date of earliest event reported)

ALBANY INTERNATIONAL CORP.

(Exact name of registrant as specified in its charter)

Delaware	1-10026	14-0462060
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S Employer Identification No.)

216 Airport Drive Rochester, New Hampshire	03867
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code       603-330-5850

None

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, $0.001 par value per share	AIN	The New York Stock Exchange (NYSE)
Class B Common Stock, $0.001 par value per share	AIN	The New York Stock Exchange (NYSE)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).

☐    Emerging growth company

¨    If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Item 7.01 Regulation FD Disclosure

On January 15, 2021, David M. Pawlick, Vice-President, Controller of Albany International Corp. (the “Company”) and principal accounting officer, informed the Company of his decision to retire, effective September 30, 2021.

Until his successor is in place, Mr. Pawlick will continue to perform his current duties and support the Company’s search for a successor. He shall further assist in the transition process as needed once a replacement has been named, until September 30, 2021.

In exchange, he will remain an employee of the Company at his current salary until such time, and eligible for a pro-rated short-term incentive bonus for 2021 under the Company’s Annual Performance Plan, payable in or about March 2022. Upon the termination of his employment on September 30, 2021, he will receive compensation in an amount equal to one-half the value of unvested Phantom Stock units forfeited as the result of his voluntary retirement prior to age 62.

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.

ALBANY INTERNATIONAL CORP.
By:	/s/ Stephen M. Nolan
Name:	Stephen M. Nolan
Title:	Chief Financial Officer and Treasurer
	(Principal Financial Officer)

Date: January 21, 2021

EXHIBIT INDEX

Exhibit No.	Description
104	Inline XBRL cover page.

XML

Document and Entity Information Document	Jan. 15, 2021
Entity Information [Line Items]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 15, 2021
Entity Registrant Name	ALBANY INTERNATIONAL CORP.
Entity Incorporation, State or Country Code	DE
Entity File Number	1-10026
Entity Tax Identification Number	14-0462060
Entity Address, Address Line One	216 Airport Drive
Entity Address, City or Town	Rochester
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03867
City Area Code	603
Local Phone Number	330-5850
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000819793
Class A Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	AIN
Security Exchange Name	NYSE
Class B Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Class B Common Stock, $0.001 par value per share
Trading Symbol	AIN
Security Exchange Name	NYSE