Document
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
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Date of Report (Date of Earliest Event Reported): | | March 20, 2018 |
The Andersons, Inc.
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(Exact name of registrant as specified in its charter)
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Ohio | 000-20557 | 34-1562374 |
_____________________ (State or other jurisdiction | _____________ (Commission | ______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
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1947 Briarfield Boulevard, Maumee, Ohio | | 43537 |
____________________________ (Address of principal executive offices) | | ___________ (Zip Code) |
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Registrant’s telephone number, including area code: | | 419-893-5050 |
Not Applicable
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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))
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 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 1.01 Entry into a Material Definitive Agreement.
As reported by The Andersons, Inc. (the "Company") in its Current Report on Form 8-K dated March 1, 2018, John J. Granato left the company.
On March 20, 2018, Mr. Granato entered into a separation agreement with the Company which is consistent with the Change in Control and Severance Policy filed within the 2017 Annual Form 10-K Report on February 26, 2018.
Under the agreement, consistent with the Company's existing Change in Control and Severance Policy, Mr. Granato will receive one year's base salary ($430,000), one year's target cash bonus ($344,000), and group health benefits ($22,452) in connection with his severance from the Company, not for Cause, and not in connection with a Change in Control event. Additionally, the Company will accelerate the vesting of Mr. Granato's currently unvested 5,374 restricted share awards and make a prorated 2018 bonus payment.
Mr. Granato will continue to be bound by agreements to maintain confidentiality of company information and non-solicitation of customers and employees.
SIGNATURES
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.
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| | The Andersons, Inc. | | |
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March 22, 2018 | | By: | | /s/ Naran U. Burchinow |
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| | | | Name: Naran U. Burchinow |
| | | | Title: General Counsel & Secretary |
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