# EDGAR Filing Document

**Accession Number:** 0001687221
**File Stem:** 0000950103-23-001264
**Filing Date:** 2023-1
**Character Count:** 12361
**Document Hash:** ca0ff0e5a0e96357c48906718e295211
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-23-001264.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0000950103-23-001264

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230126

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** REV Group, Inc.
- **CENTRAL INDEX KEY:** 0001687221
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
- **IRS NUMBER:** 263013415
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37999
- **FILM NUMBER:** 23565288

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SOUTH EXECUTIVE DRIVE
- **CITY:** BROOKFIELD
- **STATE:** WI
- **ZIP:** 53005
- **BUSINESS PHONE:** 414-290-0190

**MAIL ADDRESS:**
- **STREET 1:** 245 SOUTH EXECUTIVE DRIVE
- **CITY:** BROOKFIELD
- **STATE:** WI
- **ZIP:** 53005

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

_______________________

**FORM 8-K**

________________________

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of Earliest Event Reported): January 26, 2023**

______________________

**REV Group, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-37999** | **26-3013415** |
| (State or Other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (IRS Employer Identification Number) |

---

**245 South Executive Drive, Suite 100 Milwaukee, WI 53005**

(Address of principal executive offices and zip code)

**(414) 290-0190**

(Registrant's telephone number, including area code)

Former name or former address, if changed since last report: N/A

______________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock ($0.001 Par Value) | REVG | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

(b) and (e). The board of directors (the "Board") of REV Group, Inc. (the "Company") and Rodney Rushing mutually agreed that Mr. Rushing's employment as President and Chief Executive Officer would terminate effective January 26, 2023. In connection with his separation of employment with the Company and removal as President and Chief Executive Officer, Mr. Rushing resigned from the Board.

In connection with Mr. Rushing's mutually agreed separation from employment, on January 27, 2023 (the "Separation Date"), the Company entered into a separation agreement (the "Separation Agreement") with Mr. Rushing. Under the Separation Agreement, Mr. Rushing will receive separation benefits consisting of (i) 24 months of salary continuation at his current base salary, (ii) continued eligibility for vesting of 166,646 unvested shares of restricted stock granted pursuant to the Restricted Stock Awards between Mr. Rushing and the Company that are scheduled to vest as of December 31, 2023, (iii) continued eligibility for vesting of 66,268 of his existing unvested performance share units granted pursuant to the Performance Share Unit Awards between Mr. Rushing and the Company upon the achievement of $180,000,000 of consolidated adjusted EBITDA for the fiscal year ending October 31, 2024, and (iv) a monthly amount in cash equal to the portion of monthly health insurance premiums paid by the Company for Mr. Rushing's group health insurance coverage and his eligible dependents' coverage for 18 months (or until no longer eligible for continuation coverage under the federal law known as COBRA). All other shares of restricted stock and performance share units held by Mr. Rushing that remain unvested as of the Separation Date will be terminated and forfeited as of such date. The Separation Agreement also includes customary terms regarding communications and confidentiality, as well as restrictions against competition and solicitation of customers and employees that last for 24 months following the date of Mr. Rushing's separation from employment.

(c) and (e). On January 30, 2023, the Company announced that Mark A. Skonieczny, SVP, Chief Financial Officer ("CFO") of the Company, will assume the additional role of Interim President and Chief Executive Officer effective January 27, 2023, until the position is permanently filled. Prior to assuming his role as CFO of the Company in 2020, Mr. Skonieczny served as the Vice President and Corporate Controller at Adient PLC from 2016 through 2019. During this time, Mr. Skonieczny also held additional responsibilities as Vice President of Finance for the Global Seating Business and most recently Vice President of Finance for the Asia Pacific region. From 1999 through 2016, Mr. Skonieczny held numerous roles at Johnson Controls Inc., including Vice President of Corporate Development, Vice President of Finance – Power Solutions Business and Vice President of Finance – Building Efficiency. Mr. Skonieczny earned a bachelor's degree in Accounting from Michigan State University.

In connection with Mr. Skonieczny's assumption of the role of Interim President and Chief Executive Officer, on January 26, 2023, the Board and compensation committee of the Board have agreed that Mr. Skonieczny: (i) would receive an incremental monthly cash payment of $40,000 for each month he continues to serve as Interim President and Chief Executive Officer, but no less than a minimum supplemental amount of $325,000 for the calendar year ending December 31, 2023, (ii) will be granted an additional 20,000 shares of restricted stock which would vest on December 31<sup>st</sup>, 2023, (iii) will be granted an increase in his severance benefit in the event his employment is terminated without cause from 12 months of salary continuation to 18 months of salary continuation, (iv) will receive an extension of his moving allowance for an additional 2 years, and (v) will be provided a fiscal year 2023 cash bonus opportunity equal to 100% of his base salary.

(d) The Board also appointed Mr. Skonieczny as a member of the Board, effective January 27, 2023. Mr. Skonieczny was elected to fill the vacancy following Mr. Rushing's resignation. Mr. Skonieczny will serve as a Class II director, which class will stand for re-election at the 2025 annual meeting of stockholders. Mr. Skonieczny will not receive additional compensation for his role as a director. Because of his financial, operational and industrial expertise, and his role as the Company's Interim President and Chief Executive Officer, the Company believes that Mr. Skonieczny is well-qualified to serve as a member of the Board.

**Item 9.01 Financial Statements and Exhibits.** 

(d) Exhibits.

[99.1](dp187858_ex9901.htm) [Press Release, dated January 30, 2023](dp187858_ex9901.htm) <br> 104 Cover Page Interactive Data File (formatted in iXBRL)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **REV Group, Inc.** | **REV Group, Inc.** |
| Date: January 30, 2023 | By: | /s/ Stephen W. Boettinger |
|  |  | Stephen W. Boettinger |
|  |  | General Counsel |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![](image_001.jpg)

**FOR IMMEDIATE RELEASE**

**REV Group Announces Leadership Change Effective Immediately**

**Board Appoints Mark Skonieczny as Interim CEO as Rod Rushing Departs**

**Milwaukee, WI –** January 30, 2023 - REV Group, Inc. (NYSE:REVG), a leading manufacturer of specialty vehicles announced today that Mark Skonieczny, CFO has been appointed Interim Chief Executive Officer, effective January 27, 2023. Rod Rushing has stepped down as President and Chief Executive Officer and as a member of the Board of Directors.

"On behalf of the Board of Directors, I want to thank Rod for his dedication and contributions to REV Group over the past three years," stated Paul Bamatter, Chairman of REV Group's Board of Directors. "During his tenure, Rod has played an important role in positioning REV Group for long-term success, while leading the company through a challenging period that included COVID-19, rapidly rising inflation, and supply chain disruptions. We wish him all the best."

Mr. Skonieczny will join the REV Group Board of Directors effective immediately and remain Chief Financial Officer. Mr. Skonieczny will serve as Interim CEO until the role is permanently filled.

Prior to joining REV Group, Mr. Skonieczny held positions as Vice President and Corporate Controller of Adient PLC and spent 17 years at Johnson Controls in a variety of financial roles including Vice President of Corporate Development, Vice President of Finance, Global Aftermarket-Power Solutions, Vice President of Finance, Middle East, Latin America and NA Systems-Building Efficiency, and Assistant Corporate Controller.

"Mark has been a valuable member of the REV leadership team since joining the company in June 2020," said Mr. Bamatter. "The Board is confident that his extensive experience, existing deep knowledge of the REV business, and operational experience will further enable REV to accelerate its transformation."

Mr. Skonieczny added, "I appreciate the opportunity to serve as interim CEO and I'm committed to working closely with the Board and our strong management team to drive improved operational performance and financial results. We have many opportunities ahead and I look forward to engaging with the Company's customers, employees, shareholders and other stakeholders throughout the coming weeks."

###

***About REV Group, Inc.***

REV Group companies are leading designers and manufacturers of specialty vehicles and related aftermarket parts and services, which serve a diversified customer base, primarily in the United States, through three segments: Fire & Emergency, Commercial, and Recreation. They provide customized vehicle solutions for applications, including essential needs for public services (ambulances, fire apparatus, school buses, and transit buses), commercial infrastructure (terminal trucks and industrial sweepers), and consumer leisure (recreational vehicles). REV Group's diverse portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of REV Group's brands pioneered their specialty vehicle product categories and date back more than 50 years. REV Group trades on the NYSE under the symbol REVG. Investors-REVG

**Investors:**

Drew Konop<br> VP, Investor Relations & Corporate Development

+1.262.957.4594 (mobile)<br> investors@revgroup.com

<br>