SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Amendment No. 1)
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 14, 2021
(Exact name of registrant as specified in its charter)
(Address of principal executive offices)
Registrant’s telephone number, including area code:
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
Common Stock, par value $0.40 per share
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
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. ☐
This Amendment No. 1 amends the Current Report on
Form 8-K (the
“Original 8-K”) Nucor
Corporation (the “Company”) filed with the Securities and Exchange Commission on April 14, 2021, regarding the retirement of Raymond S. Napolitan, Jr. as Executive Vice President of Engineered Bar Products and Digital of the Company. The disclosure included in the
otherwise remains unchanged.
(e) On June 3, 2021, the Company and Mr. Napolitan entered into a Retirement, Separation, Waiver and Release Agreement (the “Retirement Agreement”) in connection with Mr. Napolitan’s retirement from employment with the Company, effective June 5, 2021. The Retirement Agreement, together with the Surviving Provisions (as defined in the Retirement Agreement) of the Executive Employment Agreement (the “Executive Employment Agreement”), effective as of February 17, 2020, by and between the Company and Mr. Napolitan, collectively contain the entire agreement of the parties and supersede all prior agreements between the parties related to Mr. Napolitan’s employment with the Company.
In consideration for Mr. Napolitan’s comprehensive release of claims against the Company and its affiliates and his post-employment restrictive covenants set forth in the Surviving Provisions of the Executive Employment Agreement, Mr. Napolitan will be entitled to receive monthly payments from the Company of $205,042.45 for the 24 months immediately following his retirement. Specifically, Mr. Napolitan has agreed, among other things, not to (i) compete with the Company during
the 24-month period
following his retirement, (ii) disclose proprietary and confidential information (including trade secrets) of the Company, (iii) encourage the Company’s existing or prospective customers or suppliers to purchase steel or steel products or related services from, or to provide steel or steel products or related services to, any competitor of the Company or otherwise attempt to influence any business or business negotiations such customers or suppliers may transact or have with the Company during
the 24-month period
following his retirement, (iv) hire or encourage any employee of the Company to terminate his or her employment with the Company during
the 24-month period
following his retirement and (v) make any statements that defame, disparage or in any way criticize the personal or business reputation, practices or conduct of the Company or its affiliates. Mr. Napolitan has also agreed that any inventions, designs or other ideas conceived by Mr. Napolitan during his employment with the Company will be assigned to the Company. Pursuant to the Retirement Agreement, effective as of June 5, 2021, Mr. Napolitan will resign from any and all positions he holds with the Company and its direct and indirect subsidiaries and affiliates. Under the terms of the Retirement Agreement, Mr. Napolitan may revoke the Retirement Agreement for a period of seven days after June 3, 2021, the date Mr. Napolitan executed the Retirement Agreement. The Retirement Agreement shall not become effective and enforceable until
the seven-day revocation
period has ended.
The foregoing description of the terms and conditions of the Retirement Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Retirement Agreement (including the Executive Employment Agreement attached as Exhibit A thereto), a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.
Retirement, Separation, Waiver and Release Agreement, dated as of June 3, 2021, by and between Nucor Corporation and Raymond S. Napolitan, Jr. (#)
Cover Page from this Current Report on Form
formatted in Inline XBRL (included in Exhibit 101)
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.
Date: June 3, 2021
James D. Frias
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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