RPM International Inc. filed SEC Form 8-K: Leadership Update
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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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 October 2, 2025, David C. Dennsteadt was elected by the Board of Directors of RPM International Inc. (the “Company”) to serve as the Company’s Executive Vice President. Mr. Dennsteadt, age 53, had been serving as group president of the Company’s Performance Coatings Group. In his new role, Mr. Dennsteadt will oversee all of the Company’s corporate administrative functions, including finance, legal, risk management, human resources, manufacturing and operations. Bringing a wealth of experience from his tenure as group president of the Company’s Performance Coatings Group, Mr. Dennsteadt has delivered consistent record-breaking sales and earnings while cultivating a global strategic vision. Since joining Stonhard in 1995 as a technical service engineer, Mr. Dennsteadt has held a variety of leadership roles with the Company, including managing director of Stonhard Europe, vice president of the Company’s Performance Coatings Group, and group president of the Company’s Performance Coatings Group. His experience spans operations, international business development, corporate development and acquisition strategy. Mr. Dennsteadt holds a bachelor’s degree in civil engineering from Rutgers University and an MBA from New York University’s Stern Executive MBA Program.
In connection with his appointment as Executive Vice President of the Company, Mr. Dennsteadt and the Company entered into an Employment Agreement (the “Employment Agreement”) and an Indemnification Agreement (the “Indemnification Agreement”).
The Employment Agreement with Mr. Dennsteadt, effective as of October 2, 2025, follows the Company’s new form of employment agreement that is described more fully on page 46 of the Company’s Definitive Proxy Statement filed on August 21, 2025, which description is incorporated herein by reference. Pursuant to his Employment Agreement, Mr. Dennsteadt will receive a base salary of $615,000 and he is entitled to receive such annual incentive compensation as may be determined by the Compensation Committee of the Company’s Board of Directors from time to time. Mr. Dennsteadt is also entitled to participate in or receive benefits under the Company’s benefit plans and receive such other benefits in line with the Company’s present practices, including the use of a full-sized automobile. The Employment Agreement also sets forth the amount of compensation Mr. Dennsteadt is entitled to receive in the event of termination of his employment due to his (i) retirement, (ii) death, (iii) disability, (iv) voluntary termination, (v) termination for cause, (vi) involuntary termination without cause and not within two years of a change in control and (vii) involuntary termination without cause or resignation with good reason within two years of a change in control. In the event of termination due to either of items (vi) or (vii) above, Mr. Dennsteadt would receive three times his base salary then in effect, his earned incentive compensation, and other continuing and limited benefits, as such terms are defined in the Employment Agreement. The Employment Agreement also contains restrictive covenants concerning non-competition, non-solicitation and confidentiality that apply during, and after termination of, his employment. The foregoing description of the Employment Agreement is not complete and is qualified in its entirety by reference to the full text of the Employment Agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending November 30, 2025, and is incorporated by reference herein.
The Indemnification Agreement with Mr. Dennsteadt, also effective as of October 2, 2025, is the same as the indemnification agreements the Company has entered into with each of its Directors and executive officers. The Indemnification Agreement requires the Company to indemnify Mr. Dennsteadt to the fullest extent permitted by law against all expenses, judgments, settlements, fines and penalties, actually and reasonably incurred in the defense or settlement of any civil, criminal, administrative or investigative action brought against Mr. Dennsteadt by reason of his relationship with the Company, including third-party claims and proceedings brought by or in the right of the Company, subject to certain exceptions. The rights provided to Mr. Dennsteadt under the Indemnification Agreement is in addition to any other rights he may be entitled to under the Company’s Amended and Restated Certificate of Incorporation or Amended and Restated By-laws, the General Corporation Law of the State of Delaware or otherwise. The description of the Indemnification Agreement set forth in this Item 5.02 is not complete and is qualified in its entirety by reference to the full text of the Company’s form of indemnification agreement. The form of indemnification agreement between the Company and each of its Directors and executive officers was filed as Exhibit 10.14 to the Company’s Quarterly Report on Form 10-Q for the quarter ended November 30, 2002, and is incorporated by reference herein.
There are no arrangements or undertakings between Mr. Dennsteadt and other persons pursuant to which he was selected to serve as Executive Vice President of the Company, nor are there any family relationships between Mr. Dennsteadt and any of the Company’s directors or executive officers. Mr. Dennsteadt has no material interest in any transactions, relationships or arrangements with the Company that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended.
A copy of the Company’s press release regarding the election of Mr. Dennsteadt as the Company’s Executive Vice President and other leadership changes, dated October 2, 2025, is furnished with this Current Report on Form 8-K as Exhibit 99.1.
Item 5.07. | Submission of Matters to a Vote of Security Holders. |
Annual Meeting Results
The Annual Meeting of Stockholders of the Company was held on October 2, 2025. The following matters were voted on at the Annual Meeting, and the results were as follows:
(i) | Election of Julie A. Beck, Bruce A. Carbonari, Jenniffer D. Deckard, Salvatore D. Fazzolari, Christopher L. Mapes, Craig S. Morford, Ellen M. Pawlikowski, Frank C. Sullivan and Elizabeth F. Whited as Directors of the Company. The nominees were elected as Directors with the following votes: |
Julie A. Beck
For |
100,086,120 | |||
Withheld |
4,401,288 | |||
Broker Non-Votes |
9,470,151 |
Bruce A. Carbonari
For |
94,454,700 | |||
Withheld |
10,032,708 | |||
Broker Non-Votes |
9,470,151 |
Jenniffer D. Deckard
For |
103,937,591 | |||
Withheld |
549,817 | |||
Broker Non-Votes |
9,470,151 |
Salvatore D. Fazzolari
For |
101,921,344 | |||
Withheld |
2,566,064 | |||
Broker Non-Votes |
9,470,151 |
Christopher L. Mapes
For |
102,524,815 | |||
Withheld |
1,962,593 | |||
Broker Non-Votes |
9,470,151 |
Craig S. Morford
For |
104,166,605 | |||
Withheld |
320,803 | |||
Broker Non-Votes |
9,470,151 |
Ellen M. Pawlikowski
For |
104,092,749 | |||
Withheld |
394,659 | |||
Broker Non-Votes |
9,470,151 |
Frank C. Sullivan
For |
100,331,397 | |||
Withheld |
4,156,011 | |||
Broker Non-Votes |
9,470,151 |
Elizabeth F. Whited
For |
102,761,168 | |||
Withheld |
1,726,240 | |||
Broker Non-Votes |
9,470,151 |
In addition to the Directors above, the following Directors’ terms of office continued after the Annual Meeting: Robert A. Livingston, Frederick R. Nance and William B. Summers, Jr.
(ii) The proposal to approve, on an advisory, non-binding basis, the compensation of the Company’s named executive officers, was approved with the following votes:
For |
95,838,034 | |||
Against |
8,205,285 | |||
Abstain |
444,089 | |||
Broker Non-Votes |
9,470,151 |
(iii) The proposal to ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending May 31, 2026 was approved with the following votes:
For |
110,173,229 | |||
Against |
3,551,383 | |||
Abstain |
232,947 | |||
Broker Non-Votes |
0 |
For information on how the votes for the above matters were tabulated, see the Company’s Definitive Proxy Statement used in connection with the Annual Meeting of Stockholders on October 2, 2025.
Item 8.01. | Other Events. |
On October 2, 2025, the Company issued a press release announcing an increase in its quarterly cash dividend. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.2.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
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.
RPM International Inc. | ||||||
(Registrant) | ||||||
Date October 8, 2025 | ||||||
/s/ Tracy D. Crandall | ||||||
Tracy D. Crandall | ||||||
Vice President, General Counsel, Chief Compliance Officer and Secretary |