MOTORCAR PARTS OF AMERICA INC 8-K

What Happened

• Motorcar Parts of America, Inc. announced (8-K filed July 2, 2026) that it and CEO Selwyn Joffe entered into Amendment No. 7 to his Employment Agreement on June 26, 2026. The Amendment extends the agreement term from July 1, 2027 to July 1, 2029. The Company’s Human Resources and Compensation Committee and Board approved the Amendment. All other terms of the Employment Agreement remain the same.

Key Details

• Amendment date: June 26, 2026; prior Employment Agreement originally dated May 18, 2012 (and subsequently amended).
• Term extended: from July 1, 2027 to July 1, 2029.
• Approved salary increases:
  • From $828,256 to $902,799 per year, effective June 26, 2026.
  • From $902,799 to $984,050 per year, effective April 1, 2027.
• The Amendment and increases were approved by the Company’s Human Resources and Compensation Committee and Board.

Why It Matters

• The amendment confirms continued leadership under CEO Selwyn Joffe through mid‑2029 and increases his annual cash compensation to a maximum of $984,050 beginning April 1, 2027. For investors, this affects executive compensation expense and signals the board’s decision to retain the current CEO; the filing notes no other changes to the employment terms.