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Registrant’s telephone number, including area code: i734-i254-5000
i25-28
North Wall Quay, iIFSC
iDublin 1, iIrelandiD01
H104
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of class
Trading symbol(s)
Name of exchange on which registered
iOrdinary
Shares, par value $0.001
iADNT
iNew York Stock Exchange
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrants under any of the following provisions (see General Instruction A.2. below):
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))
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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 16, 2022, the Board of Directors (“Board”) of Adient plc (“Adient”) approved, pursuant
to Adient’s 2021 Omnibus Incentive Plan, a Restricted Shares or Restricted Share Unit Award Agreement for Douglas G. Del Grosso, Adient’s President Chief Executive Officer (the “Replacement RSU Agreement”). The Replacement RSU Agreement will be used to grant a restricted stock unit award to Mr. Del Grosso, with a grant date fair value in an amount equal to 30% of his salary as in effect at the time of grant. The restricted stock unit award is being granted in replacement of 30% of one year’s salary that Mr. Del Grosso will forfeit as a result of a salary reduction, which is being done to further Adient’s commitment to aligning pay with performance and the interests of Adient’s chief executive officer with the interests of its shareholders. The restricted stock unit award granted to Mr. Del Grosso under the Replacement RSU Agreement will have a grant date of October 1, 2022
and will vest upon the one-year anniversary of the grant date (subject to continued vesting upon an involuntary termination without cause, or accelerated vesting upon death or disability). The foregoing description of the Replacement RSU Agreement is not complete and is qualified in its entirety by the Replacement RSU Agreement that is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Cover
Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).
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.