# EDGAR Filing Document

**Accession Number:** 0001158449
**File Stem:** 0001157523-23-000371
**Filing Date:** 2023-2
**Character Count:** 12061
**Document Hash:** 0056ab7ff2e2c3ae50ede84049641dcf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001157523-23-000371.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001157523-23-000371

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230228

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

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVANCE AUTO PARTS INC
- **CENTRAL INDEX KEY:** 0001158449
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO & HOME SUPPLY STORES [5531]
- **IRS NUMBER:** 542049910
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-16797
- **FILM NUMBER:** 23678263

**BUSINESS ADDRESS:**
- **STREET 1:** 4200 SIX FORKS ROAD
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27609
- **BUSINESS PHONE:** 5403624911

**MAIL ADDRESS:**
- **STREET 1:** 4200 SIX FORKS ROAD
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27609

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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### FORM 8-K

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#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

#### Date of report (Date of earliest event reported): February 28, 2023
_____________________

### ADVANCE AUTO PARTS, INC
(Exact name of registrant as specified in its charter)

_____________________

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| | | |
|:---|:---|:---|
| **Delaware**<br>| **001-16797**<br>| **<u>54-2049910</u>**<br>|
| (State or other jurisdiction of<br> incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification No.) |

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#### 4200 Six Forks Road, Raleigh, North Carolina 27609
(Address of principal executive offices) (Zip Code)

(540) 362-4911

(Registrant's telephone number, include area code)

#### Not Applicable
(Former name or former address, if changed since last report)

_____________________

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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| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **Name of each exchange on which registered**  |
| **Common Stock, $0.0001 par value**<br>| **AAP**<br>| **New York Stock Exchange**<br>|

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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 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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. ☐

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INFORMATION TO BE INCLUDED IN THE REPORT

#### Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 22, 2023, Thomas R. Greco, President and Chief Executive Officer of Advance Auto Parts, Inc. (the "Company") informed the Company's Board of Directors (the "Board") of his intention to retire from his position at the end of the year. In connection with Mr. Greco's planned retirement and the Company's succession planning process, the Board has formed a Succession Committee composed of independent directors. Mr. Greco will work closely with the Board to identify his successor and facilitate a smooth transition.

#### Item 7.01 Regulation FD Disclosure.
A press release announcing the upcoming retirement of Mr. Greco was issued by the Company on February 28, 2023, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

#### Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.

#### Exhibit Number

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| | |
|:---|:---|
| [99.1](a53353038ex99_1.htm) | [Press release, dated February 28, 2023, issued by Advance Auto Parts, Inc.](a53353038ex99_1.htm) |
| 101.1 | Pursuant to Rule 406 of Regulation S-T, the cover page to this Current Report on Form 8-K is in line with XBRL. |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document included in Exhibit 101.1). |

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

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| | | |
|:---|:---|:---|
|  | ADVANCE AUTO PARTS, INC. | ADVANCE AUTO PARTS, INC. |
| Date:&nbsp;&nbsp;&nbsp;&nbsp; February 28, 2023 | By: | /s/ Jeffrey W. Shepherd |
|  |  | Jeffrey W. Shepherd |
|  |  | Executive Vice President, Chief Financial Officer |

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## Exhibit 99.1

**Exhibit 99.1**<br>

# **Advance Auto Parts Announces Leadership Succession Plan** 
 ***Tom Greco to Retire as President and CEO at Year-End 2023*** 

 ***Board Initiates Search for Successor*** 

RALEIGH, N.C.--(BUSINESS WIRE)--February 28, 2023--Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, today announced that Tom Greco has informed the company of his plan to retire as President and Chief Executive Officer of the company at the end of the year. Following Mr. Greco's retirement, he plans to serve in an advisory capacity through a transition period.

In connection with Mr. Greco's planned retirement and the company's succession planning process, the Advance Auto Parts Board has formed a Succession Committee, composed of independent directors. The Board intends to retain a leading executive search firm to assist in a thorough and comprehensive search that considers both internal and external candidates.

Tom Greco, Advance's president and chief executive officer, said, "It has been a privilege to lead Advance and I am extremely proud of the talented team we have built as well as the accomplishments we have delivered together. Since my appointment as CEO, we have successfully integrated a transformative acquisition while scaling the business and enhancing our operational efficiency, inventory and distribution capabilities to better serve our customers."

Greco added, "I believe now is the right time to begin to transition leadership for two primary reasons. First, we are in the final year of our three-year strategic business plan and are in the process of updating our next multi-year strategy. This transition will enable my successor to play a role in developing the next chapter of Advance's strategy and help ensure the long-term success of Advance. Secondly, by planning for retirement in advance, I will be able to work with the Board's Succession Committee to identify my successor and facilitate a smooth transition. In the meantime, I'm committed to the execution of our 2023 plan to continue delivering for customers and driving long-term shareholder value."

Eugene I. Lee, Jr., Chair of the Board of Directors, commented, "On behalf of the Board, we thank Tom for his service and ongoing commitment to Advance. Tom has constructed a strong foundation that will enable success in Advance's next chapters. Under his leadership, Advance has transformed its talent base and culture, delivered nearly $2 billion of revenue growth and more than doubled its adjusted earnings per share over the last five years. Advance is now better positioned to meet the challenges of today's dynamic environment and as we undertake our search for the next CEO, we are focused on ensuring that the company continues to unlock its enormous potential and deliver long-term shareholder value."

 **Fourth Quarter and Full Year 2022 Results and Conference Call**

In a separate press release issued today, Advance Auto Parts released its financial results for the fourth quarter and full year 2022. The company will detail its results via a webcast scheduled to begin at 8:00 a.m. Eastern Time today, February 28. The webcast will be accessible via the Investor Relations page of the company's website (ir.AdvanceAutoParts.com).

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 **About Advance Auto Parts**

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of December 31, 2022, Advance operated 4,770 stores and 316 Worldpac branches primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. The company also served 1,311 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at www.AdvanceAutoParts.com.

 **Forward-Looking Statements**

Certain statements herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "guidance," "intend," "likely," "may," "plan," "position," "possible," "potential," "probable," "project," "should," "strategy," "will," or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the company's strategic initiatives, operational plans and objectives, expectations for economic conditions and recovery and future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the company's views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, factors related to the company's leadership transition, the timing and implementation of strategic initiatives, including with respect to labor shortages or disruptions and the impact on our ability to complete store openings, the highly competitive nature of the company's industry, demand for the company's products and services, complexities in its inventory and supply chain, and challenges with transforming and growing our business. Please refer to "Item 1A. Risk Factors." of the company's most recent Annual Report on Form 10-K, as updated by its Quarterly Report on Form 10-Q and other filings made by the company with the Securities and Exchange Commission, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.

## Contacts
 **Investor Relations Contact:** <br> Elisabeth Eisleben <br> T: (919) 227-5466 <br> E: invrelations@advanceautoparts.com

 **Media Contact:** <br> Darryl Carr <br> T: (984) 389-7207 <br> E: darryl.carr@advance-auto.com