Current Report Filing (8-k)
April 03 2020 - 4:29PM
Edgar (US Regulatory)
GOODYEAR TIRE & RUBBER CO /OH/ false 0000042582 0000042582 2019-04-04 2020-04-02
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
Date of Report (Date of earliest event reported): April 2, 2020
THE GOODYEAR TIRE & RUBBER COMPANY
(Exact name of registrant as specified in its charter)
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Ohio
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1-1927
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34-0253240
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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200 Innovation Way, Akron, Ohio
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44316-0001
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including area code: (330) 796-2121
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:
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading
Symbol(s)
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Name of each exchange
on which registered
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Common Stock, Without Par Value
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GT
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The Nasdaq Stock Market LLC
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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 ☐
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 April 2, 2020, The Goodyear Tire & Rubber Company (the “Company”) announced actions that the Company has taken that will affect the compensation of its U.S. salaried associates, including all of its elected officers.
With respect to its elected officers, effective April 1, 2020, each officer’s base salary will be reduced until at least June 30, 2020, with a portion of the reduction in base salary to be deferred. Deferred amounts are anticipated to be paid in March 2021. For Mr. Kramer, the Company’s Chairman, Chief Executive Officer and President, the base salary reduction will be 50% of his total base salary, with 25% of his total base salary deferred. For each of the other named executive officers, the base salary reduction will be 30% of their respective total base salary, with 20% of their respective total base salary deferred.
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 GOODYEAR TIRE & RUBBER COMPANY
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Date: April 3, 2020
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By
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/s/ Daniel T. Young
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Daniel T. Young
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Secretary
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