Douglas Dynamics : Submission of Matters to a Vote of Security Holders - Form 8-K
April 26, 2024 at 08:30 pm IST
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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.
On April 23, 2024, at the Douglas Dynamics, Inc. (the "Company") 2024 annual meeting of shareholders (the "Annual Meeting"), the Company's stockholders approved the Douglas Dynamics, Inc. 2024 Stock Incentive Plan (the "2024 Plan"), which had previously been approved by the Company's Board of Directors (the "Board"), subject to stockholder approval. Additional information regarding the results of the Annual Meeting is set forth below under Item 5.07 of this Current Report on Form 8-K.
The Company previously maintained the Douglas Dynamics, Inc. 2010 Stock Incentive Plan (the "2010 Plan"). Effective upon stockholder approval at the Annual Meeting, the 2024 Plan replaced the 2010 Plan, and the 2010 Plan was terminated. No new awards will be granted under the 2010 Plan. Awards currently outstanding under the 2010 Plan will remain outstanding under the 2010 Plan in accordance with their terms.
The 2024 Plan is described in detail in the Company's definitive proxy statement, filed with the Securities and Exchange Commission on March 22, 2024, under the caption "Proposal 3 - Approval of the Company's Stock Incentive Plan," which description is incorporated herein by reference. A copy of the 2024 Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K.
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Douglas Dynamics, Inc. is a manufacturer and upfitter of commercial work truck attachments and equipment. The Company operates through two segments: Work Truck Attachments and Work Truck Solutions. The Work Truck Attachments segment is engaged in manufacturing and selling snow and ice control attachments and other products sold under the FISHER, SNOWEX and WESTERN brands, as well as its vertically integrated products. It offers a range of product lines of snowplows and sand and salt spreaders for light trucks. The Work Truck Solutions segment is engaged in manufacturing municipal snow and ice control products under the HENDERSON brand and the upfit of attachments and storage solutions under the HENDERSON brand, and the DEJANA brand and its related sub-brands. Work Truck Solutions products consist of truck and vehicle upfits where it attaches component pieces of equipment, truck bodies, racking, and storage solutions, and which are typically used by end-users for work related purposes.