MYERS INDUSTRIES INC (MYE): CEO Aaron Schapper compensation terms

Events in this filing

Item 5.02 as filed

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 22, 2026, Myers Industries, Inc. (the “Company”) adopted an amended and restated Senior Officer Severance Plan (“Severance Plan”) in which certain senior officers of the Company, including all named executive officers Aaron Schapper, President and Chief Executive Officer, Samantha Rutty, Executive Vice President and Chief Financial Officer, Kari Brashear, Chief Legal Officer, Corporate Secretary and Senior Vice President, Corporate Development, and Lorelei Evans, Senior Vice President, Chief Human Resources Officer, are eligible to participate. The Severance Plan was first adopted effective February 21, 2020 as reported in the Company’s Form 8-K filed February 27, 2020, and amended and restated effective April 26, 2023 as reported in the Company’s Form 8-K filed April 28, 2023 (as amended, the “Prior Plan”).
The Severance Plan amended the Prior Plan by, among other things, (a) including Target Bonus, in addition to Base Salary, in the cash severance calculation outside the Change in Control protection period; and (b) modifying the cash severance multiplier for a termination within the Change in Control protection period by (i) increasing the multiplier from 2.5x to 3x for the President and Chief Executive Officer and (ii) adding a separate Executive Leadership Team tier with a 2x multiplier.
The foregoing summary of material changes to the Severance Plan is not complete and is qualified in its entirety by reference to the full and complete terms of the Severance Plan, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.