STEEL PARTNERS HOLDINGS L.P. : Change in Directors or Principal Officers (form 8-K)

Published: 2022-01-10 16:36:17 ET SPLP

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

Appointment of Chief Accounting Officer

Effective on January 5, 2022, Mr. Gary W. Tankard was appointed to serve as Chief Accounting Officer of Steel Partners Holdings L.P. (the "Company"). Mr. Tankard, age 47, has served as Controller of the Company since September 2020 and as Controller of the Company's affiliate, Steel Connect, Inc., since January 2020. Prior to joining the Company, Mr. Tankard most recently served as Assistant Controller at L3 Technologies, Inc., an aerospace and defense company, from August 2016 to December 2019. Mr. Tankard also previously held technical accounting and controller roles with The Madison Square Garden Company and has ten years of accounting and audit experience with Deloitte & Touche LLP. He holds a Bachelor of Science in Accounting from the University of Delaware.

There are no transactions in which Mr. Tankard has an interest requiring disclosure under Item 404(a) of Regulation S-K, and he has no reportable family relationships under Item 401(d) of Regulation S-K or any arrangement or understanding with any person with respect to his appointment as an officer.

Chief Accounting Officer Compensation

In connection with Mr. Tankard's appointment, his annual base salary will be increased to $315,000. Mr. Tankard is employed by Steel Services, Ltd. ("Steel Services"), a wholly-owned subsidiary of the Company, which provides certain management services to the Company and certain of its subsidiaries. Mr. Tankard will be entitled to participate in the Steel Services short-term and long-term incentive plans, with an annual short-term incentive target award equal to 52.5% of Mr. Tankard's annual base salary.

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