TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
Cleveland-based Park Ohio Holdings Corp. (NASDAQ:PKOH), a leader in metal forging and stamping, announced the approval of an amended equity and incentive compensation plan by its shareholders. The plan, which was initially introduced in 2021, received the necessary endorsement during the Annual Meeting held on May 15, 2025.
The Park-Ohio Holdings Corp. 2021 Equity and Incentive Compensation Plan, now amended and restated, has been expanded to include an additional 675,000 shares of common stock available for awards. This increase also applies to the limit on shares that may be issued upon the exercise of incentive stock options. Furthermore, the plan’s term has been extended until the tenth anniversary of the date of shareholder approval of the amended plan.
The newly approved Amended 2021 Plan does not introduce any other significant changes to the terms of the original 2021 Plan. This strategic move is aimed at enhancing the company’s ability to attract and retain top talent by offering competitive compensation packages linked to the company’s performance.
The details of the Amended 2021 Plan are outlined in Exhibit 10.1 of the current report on Form 8-K filed with the Securities and Exchange Commission (SEC). This document is incorporated by reference and provides a complete description of the terms and conditions of the plan.
The adoption of the Amended 2021 Plan is part of Park Ohio’s ongoing efforts to align the interests of its key employees with those of its shareholders. The company’s commitment to maintaining robust and effective incentive schemes is reflected in the strong support from its shareholders.
This report is based on a press release statement and the information contained in the Form 8-K filed by Park Ohio Holdings Corp. with the SEC.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.