HYSTER-YALE MATERIALS HANDLING, INC. : Change of Directors or Principal Officers (Form 8-K)

Article 5.02 Departure of directors or certain officers; Election of directors; Appointment of certain officers; Compensatory provisions of certain executives.

On August 1, 2022, Hyster-Yale Materials Handling, Inc. (the “Company”) has appointed Scott A. MinderAge 49, as Senior Vice President, Chief Financial Officer and Treasurer (“Chief Financial Officer”) of the Company, effective as of August 29, 2022 (the “Effective Date”), replacing Kenneth C. Schilling, who currently serves as Chief Financial Officer. Also on August 1, 2022, Mr Schilling notified the Company of its intention to withdraw from the Company, effective December 31, 2022. To ensure a smooth transition, Mr Schilling will remain with the company and assume a new role as senior vice president of the company, special financial advisor to the president on the effective date.

Mr Minder served as Vice President, Treasurer and Investor Relations of ATI Inc. (“ATI”), a global specialty materials and components company (from June 2018 to be presented), and as Vice President, Investor Relations of ATI (since
June 2017 at June 2018). Previously, he worked for PPG Industries, a global manufacturer of paints, coatings and specialty materials, in a variety of financial roles including Director, Investor Relations, Global Commercial Controller – Industrial Coatings, Packaging Coatings and Chief Financial Officer – automotive OEM coatings (from 2009 to 2017). ). Prior to joining PPG Industries, Mr Minder was chief financial officer of the automotive division and director of global quality at Penske Logistics. Mr Minder also had a distinguished 11-year career at General Motors which held several positions of increasing responsibility within the finance function, including roles in manufacturing, marketing and corporate sites, culminating in investor relations .

As part of his appointment as CFO, Mr Minder countersigned a letter of offer from the Company, effective August 1, 2022fixing his base salary at a rate of $430,000 per year. Mr Minder will also receive: a special bonus for the registration of $150,000 (paid in two equal installments on his first pay date and after he has served six months with the Company); a one-time grant with a value equal to 8,000 shares (plus cash in the amount of 35% of the total value of the grant) under the company’s additional long-term share plan ( fully vested, with 4,000 shares subject to transfer restrictions for five years and 4,000 shares being subject to transfer restrictions for 10 years, subject to certain limited exceptions); annual participation in the company’s annual incentive plan, with a target cash opportunity (which can be earned from 0% to 150%) equal to 50% of the median salary of his role (which is $477,000 for 2022) (for 2022, this price will be pro-rated based on At Mr. Minder’s date of hire and subject to a minimum payout of 100% of target); annual participation in the company’s long-term equity incentive plan, with a target opportunity (which can be earned from 0% to 200%) equal to 75% of the median salary of his role (which is
$477,000 for 2022) and payment made 65% in shares subject to transfer restrictions and 35% in cash (for 2022, this award will be subject to a minimum payout of 100% of the target); indirect cash allowance of $20,000 per year; normal resettlement benefits; and participation in certain standard employee health, welfare and retirement benefits. Mr Minder also agreed to customary confidentiality and other standard terms of employment for new hires.

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