LCI INDUSTRIES 8-K

What Happened
LCI Industries’ subsidiary Lippert Components, Inc. announced on June 19, 2026 that it entered into amended and restated executive employment agreements with Ryan R. Smith (Group President, North America) and Jamie M. Schnur (President, Aftermarket & Technology Groups). The A&R Employment Agreements continue each executive’s employment until terminated under the agreements and specify that an “Approved Retirement” or death during employment will entitle the executive to the same severance and benefits as a termination by LCI without “cause” or a resignation for “Good Reason.” The agreements also apply the defined “Good Reason” standard to stock-based incentive awards. Copies of the A&R Employment Agreements are expected to be filed as exhibits to LCI’s next Form 10‑Q.

Key Details

• Effective date: June 19, 2026; 8-K filed June 23, 2026.
• Executives affected: Ryan R. Smith and Jamie M. Schnur.
• Mr. Smith’s change: cash severance multiple reduced from 3x to 2x base salary plus average bonus; severance payment period and post‑employment restrictive covenant shortened from 36 months to 24 months.
• “Approved Retirement” treatment: retirement (or death) after the first anniversary of the effective date triggers the same severance as a termination without cause or resignation for Good Reason; in certain specified corporate-transaction scenarios this retirement date window may be extended up to 18 months.
• The A&R agreements explicitly apply the Good Reason definition to stock‑based incentive awards.

Why It Matters
These amendments clarify executive pay and post‑employment protections, affecting retention and the company’s potential severance obligations. Notably, the reduction in Mr. Smith’s severance multiple and shorter restrictive covenant period reduce LCI’s potential cash exposure and the duration of post‑employment restraints for that executive. The explicit treatment of Approved Retirement and the application of Good Reason to equity awards give clearer rules around how severance and stock awards are handled in retirements, deaths, or certain transactions. Copies of the full agreements will be available in the company’s next 10‑Q for investors seeking the complete terms.