Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 20, 2022, the Board of Directors (the "Board") of Simpson
Manufacturing Co., Inc. (the "Company") promoted Michael Olosky, currently the
Chief Operating Officer of the Company, to the position of President and Chief
Operating Officer of the Company effective immediately. As President and Chief
Operating Officer, Mr. Olosky's responsibilities will remain the same and he
will continue to report to Ms. Karen W. Colonias. As a result of Mr. Olosky's
promotion, Ms. Colonias, who previously served as President and Chief Executive
Officer of the Company, will continue to serve as Chief Executive Officer of the
Company.
Mr. Olosky, age 53, has served as Chief Operating Officer of the Company from
November 2020 until his promotion to President and Chief Operating Officer in
January 2022. Before joining the Company, Mr. Olosky served in numerous
leadership positions, over 22 years, at Henkel, a values-based chemical and
consumer goods company. In his last role at Henkel, from July 2019 to November
2020 he served as Head of Industrials & Electronics. He previously served as the
Head of Electronics from May 2017 to July 2019 and Head of Innovation from April
2013 to May 2017. Mr. Olosky has a BS in Mechanical Engineering from Michigan
Technological University, an MBA from Michigan State University, and an MS in
Mechanical Engineering from Oakland University.
In connection with Mr. Olosky's promotion, the Compensation and Leadership
Development Committee of the Board approved an increase of his target long-term
incentive award opportunity to $1,000,000 in the form of target performance
stock units (earned from 0% to 200% of target) and restricted stock units.
Item 7.01 Regulation FD Disclosure.
On January 26, 2022, the Company issued a press release announcing Mr. Olosky's
promotion. A copy of the Company's press release is attached hereto as Exhibit
99.1 and incorporated in this Item 7.01 in its entirety.
The information contained in, or incorporated into, this Item 7.01 is being
furnished and shall not be deemed "filed" for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference
into any registration statement or other filing under the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
to such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Simpson Manufacturing Co., Inc. Press Release dated January 26, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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