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Borgwarner Inc – ‘8-K’ for 3/30/20

On:  Wednesday, 4/1/20, at 6:25am ET   ·   For:  3/30/20   ·   Accession #:  908255-20-34   ·   File #:  1-12162

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  As Of               Filer                 Filing    For·On·As Docs:Size

 4/01/20  Borgwarner Inc                    8-K:7,9     3/30/20   12:219K

Current Report   —   Form 8-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

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 9: R1          Document and Entity Information                     HTML     51K 
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 7: EXCEL       IDEA Workbook of Financial Reports                  XLSX      6K 
 3: EX-101.CAL  XBRL Calculations -- bwa-20200330_cal                XML      6K 
 4: EX-101.DEF  XBRL Definitions -- bwa-20200330_def                 XML     40K 
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10: JSON        XBRL Instance as JSON Data -- MetaLinks               14±    21K 
11: ZIP         XBRL Zipped Folder -- 0000908255-20-000034-xbrl      Zip     16K

‘8-K’   —   Current Report

This is an HTML Document rendered as filed.  [ Alternative Formats ]

 iX:   C:   C:   C: 
  Document  
 i false i 0000908255 0000908255 2020-03-30 2020-03-30 0000908255 us-gaap:CommonStockMember 2020-03-30 2020-03-30 0000908255 us-gaap:SeniorNotesMember 2020-03-30 2020-03-30


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM  i 8-K
CURRENT REPORT

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

Date of Report (Date of earliest event reported):  i March 30, 2020

 i BORGWARNER INC.
________________________________________________
(Exact name of registrant as specified in its charter)

 i Delaware
 
 i 1-12162
 
 i 13-3404508
State or other jurisdiction of
 
Commission File No.
 
(I.R.S. Employer
Incorporation or organization
 
 
 
Identification No.)


 i 3850 Hamlin Road,
 i Auburn Hills,
 i Michigan
 
 i 48326
(Address of principal executive offices)
 
(Zip Code)

Registrant’s telephone number, including area code: ( i 248)  i 754-9200

(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:

 i ☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 i ☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 i ☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 i ☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class
 
Trading Symbol(s)
 
Name of each exchange on which registered

 i Common Stock, par value $0.01 per share
 
 i BWA
 
 i New York Stock Exchange
 i 1.80% Senior Notes due 2022
 
 i BWA22
 
 i New York Stock Exchange
                                                                                                                                             
Indicate by check mark whether the registrant is an emerging growth company 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  i ☐  

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. o  




Item 7.01
Regulation FD Disclosure.
 
In light of the economic impacts on BorgWarner Inc. (the “Company” or “BorgWarner”) of and uncertainties related to the COVID-19/coronavirus pandemic, on March 30, 2020, the Compensation Committee of the Company’s Board of Directors (the “Board”) approved a temporary 20% reduction in the base salaries for the Company’s Strategy Board, including the Company’s named executive officers as listed in the Company's most recent proxy statement, such reduction to remain in effect through the second quarter of 2020, with the Compensation Committee retaining the ability to extend such reduction for an additional quarter.
  
For the same reasons, on March 30, 2020, the Corporate Governance Committee of the Board recommended to the Board, and the Board approved, a temporary 20% reduction in the annual cash retainers for non-employee directors for Board service, such reduction to apply to the second quarter of 2020, with the Board retaining the ability to extend such reduction for an additional quarter.

Item 9.01
Financial Statements and Exhibits.

(d)     Exhibits. The following exhibits are being furnished as part of this Report.

Exhibit
Number
Description
104.1
The cover page from this Current Report on Form 8-K, formatted as Inline XBRL










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.

 
BorgWarner Inc.
 
 
 
Date: April 1, 2020
By:
/s/ Tonit M. Calaway
 
 
Name: Tonit M. Calaway
 
 
Title: Executive Vice President and Secretary




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:4/1/204
For Period end:3/30/208-K
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