NN INC 8-K

What Happened
NN, Inc. (NNBR) announced that Jami A. Statham notified the company on June 10, 2026 that she will step down from her roles as Senior Vice President, General Counsel and Corporate Secretary effective at the close of business on July 9, 2026. The company and Ms. Statham entered into a Transition Agreement dated June 11, 2026 to govern her continued employment and the handoff of duties through the transition date. The company plans to engage an external search firm to identify her successor. Ms. Statham’s decision was not due to any disagreement with the company.

Key Details

• Transition Date: July 9, 2026 (last day in current role).
• Transition Agreement dated June 11, 2026 — Ms. Statham will remain in her role through the Transition Date and assist with the handoff.
• Compensation/benefits during transition: continuation of current base salary, eligibility for standard benefits, continued vesting of outstanding equity awards through the Transition Date, and a pro‑rated portion of her 2026 annual target bonus.
• Payments and benefits under the Transition Agreement are contingent on Ms. Statham executing a customary release of claims. The Transition Agreement is filed as Exhibit 10.1 to the 8‑K.

Why It Matters
A change in the company’s top legal officer is material for governance and may affect how legal, compliance and corporate matters are managed during the transition. The company has put a formal transition plan and compensation in place and will search externally for a successor, which should help preserve continuity. Investors should note the date of the departure and that compensation and equity vesting during the transition are conditioned on a release of claims.