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American Woodmark Corporation
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(Exact name of registrant as specified in its charter)
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Virginia
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000-14798
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54-1138147
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(State or other jurisdiction
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(Commission
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(IRS Employer
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of incorporation)
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File Number)
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Identification No.)
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561 Shady Elm Road,
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Winchester,
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Virginia
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22602
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(Address of principal executive offices
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(Zip Code)
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Not applicable
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(Former name or former address, if changed since last report)
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of Each Class
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Trading Symbol
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Name of Each Exchange on Which Registered
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Common Stock (no par value)
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AMWD
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NASDAQ Global Select Market
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/s/ M. SCOTT CULBRETH
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/s/ S. CARY DUNSTON
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M. Scott Culbreth
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S. Cary Dunston
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Senior Vice President and Chief Financial Officer
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Chairman & Chief Executive Officer
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Date: April 16, 2020
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Date: April 16, 2020
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Signing on behalf of the registrant and as principal financial officer
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Signing on behalf of the registrant and as principal executive officer
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P. O. Box 1980
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Winchester, VA 22604-8090
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Contact:
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Kevin Dunnigan
Treasury Director
540-665-9100
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AMERICAN WOODMARK PROVIDES UPDATE RELATED TO COVID-19
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•
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A 50% reduction in the base salary of the CEO and 25% reduction in the base salary of senior vice-presidents effective April 27, 2020 through July 31, 2020
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•
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Deferring any earned fiscal year 2020 short term incentive payments to the CEO and senior vice-presidents for six months
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•
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Delaying capital expenditures that do not impact near-term initiatives
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•
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Suspending any current activities under its stock repurchase program
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•
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Deferring or limiting non-essential operating expenses
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•
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Deferring 401-k matches until the end of the calendar year
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•
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Freezing hiring and taking other cost actions to protect existing jobs
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•
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Adding 4-5 weeks to lead times for impacted customers
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