LATHAM GROUP, INC. : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

Published: 2022-01-20 16:52:17 ET SWIM

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

On January 20, 2022, Latham Group, Inc. (the "Company") (Nasdaq: SWIM) issued a press release announcing the appointment of Sanjeev Bahl as Chief Operating Officer of Latham Pool Products, Inc., a wholly owned subsidiary of the Company, effective January 24, 2022.

Mr. Bahl, age 51, has more than 20 years of experience in global supply chain and procurement. Prior to joining the Company, Mr. Bahl served as Vice President of Global Operations at Newell Brands since 2019, where he was responsible for all aspects of multi-site global operations including manufacturing, distribution, transportation, procurement, customer service, inventory management, complexity reduction and manufacturing, and sourcing finishing goods and supplier quality. Prior to that, Mr. Bahl was Vice President of Global Procurement and Supply Chain at Danaher from 2015 to 2019. Mr. Bahl started his career as a consulting engineer at SPECS where he designed electrical systems for chemical processing plant projects and has since then served in leadership roles across a variety of companies including Carrier Corporation, Pratt and Whitney, Stanley, Black & Decker and more.

Mr. Bahl will earn an annual base salary of $350,000. He will also be granted, as soon as reasonably practicable following the effective date of his employment, a one-time award of a number of restricted stock units with an equivalent value of $525,000 on the date of the grant. Mr. Bahl will be entitled to an annual bonus of 60% of his base compensation at 100% performance, subject to continued employment through the applicable payment date. Beginning with the 2022 calendar year, Mr. Bahl will be eligible to participate in the Company's annual equity incentive plan and receive grants of equity or equity-based awards which may be options, subject to the terms and conditions of the Company's Omnibus Equity Incentive Plan and standard form of agreement. Mr. Bahl's equity award for the 2022 calendar year will be a number of options to purchase Company common stock with an equivalent value of $525,000 on the date of the grant. Additionally, Mr. Bahl will be eligible to participate in the Company's employee benefit plans and programs generally available to all employees.

The full text of the press release announcing the appointment of Mr. Bahl is filed herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.