Company: SLGN
Filing Date: 2025-01-27
Form Type: 8-K
Source: 0000849869-25-000005
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Company: SILGAN HOLDINGS INC
Filing Date: 2025-01-27
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 27, 2025, Silgan Holdings Inc., or the Company, announced that Philippe Chevrier has been elected by the Board of Directors of the Company as Executive Vice President and Chief Operating Officer of the Company, effective February 3, 2025.

Mr. Chevrier, age 49, most recently served as President of the Americas and Global Fibers business of Hexcel Corporation, a publicly traded, global leader in the manufacture of advanced lightweight composite materials, from January 2023 through January 2025. Prior to that, Mr. Chevrier held various management positions with Honeywell International Inc. from August 2003 until January 2023, last serving as President of the Honeywell Aerospace Software, Services and Connectivity Strategic Business Unit. Prior to joining Honeywell International Inc., Mr. Chevrier held management positions at ABB Group and Sun Microsystems, Inc.

There is no arrangement or understanding between Mr. Chevrier and any other person pursuant to which he was elected as an officer of the Company, and there are no family relationships between Mr. Chevrier and any director or executive officer of the Company. There are no transactions between Mr. Chevrier and the Company that would require disclosure under Item 404 (a) of Regulation S-K.

In connection with Mr. Chevrier’s election as Executive Vice President and Chief Operating Officer of the Company, the Board of Directors of the Company and the Compensation Committee of the Board of Directors of the Company approved (i) an annual salary for Mr. Chevrier of $675,000, which increases to $715,000 upon his relocation to the Connecticut area, (ii) an annual bonus for Mr. Chevrier with a target amount of 75% of his annual salary, payable on the same basis that an annual bonus is payable to the Chief Executive Officer of the Company under the Company’s Senior Executive Performance Plan, as amended, and (iii) a relocation bonus of $100,000 for Mr. Chevrier and other relocation benefits typically provided to officers of the Company and its subsidiaries. Mr. Chevrier will be eligible to participate in and receive grants of equity based compensation under the Company’s Second Amended and Restated Stock Incentive Plan, with such grants to be approved by the Compensation Committee of the Board of Directors of the Company. Mr. Chevrier will also be eligible to participate in