Company: MWA
Filing Date: 2025-01-16
Form Type: 8-K
Source: 0001350593-25-000004
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Company: Mueller Water Products, Inc.
Filing Date: 2025-01-16
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 9, 2025, Mueller Water Products, Inc. (the “ Company”) entered into an offer letter (the “ Offer Letter”) with Melissa Rasmussen, pursuant to which Ms. Rasmussen was appointed to serve as the Company’s Senior Vice President and Chief Financial Officer, effective March 4, 2025.

Ms. Rasmussen, age 48, has served as Senior Vice President, Chief Financial Officer of National Vision Holdings Inc. (NASDAQ: EYE) since January 2023, where she led the financial planning and analysis, accounting, SEC reporting, treasury, tax, investor relations, and internal audit functions. Ms. Rasmussen is expected to remain in this role until March 3, 2025. Ms. Rasmussen previously served as National Vision’s Senior Vice President, Chief Accounting Officer from July 2019 until December 2022. Before joining National Vision, Ms. Rasmussen served in various financial management roles of increasing responsibility at Lexmark International, Inc., including as Lexmark’s Vice President and Corporate Controller from November 2016 to July 2019.

Pursuant to the Offer Letter, Ms. Rasmussen will receive an annual base salary of $550,000, a target annual bonus opportunity for fiscal year 2025 equal to 70% of Ms. Rasmussen’s base salary and a target long-term incentive award opportunity for fiscal year 2025 equal to $900,000. Ms. Rasmussen will also receive a one-time restricted share grant with an aggregate value of $750,000 that will vest ratably over a three-year period. Additionally, Ms. Rasmussen will receive benefits under the Company’s Executive Severance Plan. Accordingly, if Ms. Rasmussen’s employment is terminated by the Company without Cause (as defined in the Executive Severance Plan), Ms. Rasmussen will be entitled to, among other benefits and subject to receipt of a customary release and other terms, a cash payment in the amount of 1.5 times her base salary, plus a prorated bonus for the year in which the termination occurred. If the termination without Cause occurs within two years of a Change in Control (as defined in the Executive Severance Plan), Ms. Rasmussen will be entitled to, among other benefits and subject to