HYSTER-YALE MATERIALS HANDLING, INC. (Form: 8-K, Received: 05/06/2020 08:03:24)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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):

April 30, 2020

HYSTER-YALE MATERIALS HANDLING, INC.

(Exact name of registrant as specified in its charter)

Delaware

000-54799

31-1637659

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5875 Landerbrook Drive, Suite 300

Cleveland

(440)

449-9600

44124-4069

(Address of principal executive offices)

(Registrant's telephone number, including area code)

(Zip code)

N/A

(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:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock, $0.01 par value per share	HY	New York Stock Exchange

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. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain

Officers; Compensatory Arrangements of Certain Officers.

On April 30, 2020, Hyster-Yale Group, Inc. (“HYG”), a wholly-owned subsidiary of Hyster-Yale Materials Handling, Inc. (the “Company”), adopted an amendment to the Hyster-Yale Group, Inc. Executive Excess Retirement Plan (As Amended and Restated as of January 1, 2016) (the “Executive Excess Plan”).

In connection with the global cost containment actions taken by the Company, the amendment to the Executive Excess Plan suspends the following annual employer contributions: (1) an amount equal to 3% of the participant’s compensation (the “Excess Employer Contribution Benefit”), effective with the first payroll period ending on or after May 1, 2020; and (2) an amount equal to $37,710 (the “Transitional Benefit”), effective as of January 1, 2020.

The Executive Excess Plan Amendment is attached to this Current Report on Form 8-K as Exhibit 10.1 and is hereby incorporated herein by reference. The foregoing summary is qualified in its entirety by reference to the full text of the documents, which are attached hereto as exhibits.

Item 9.01 Financial Statements and Exhibits.


(d) Exhibits

10.1						Amendment No. 1 to the Hyster-Yale Group, Inc. Executive Excess Retirement Plan (As Amended and Restated as of January 1, 2016)

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.



Date:	May 6, 2020		HYSTER-YALE MATERIALS HANDLING, INC.

		By:	/s/ Suzanne Schulze Taylor
			Name: Suzanne Schulze Taylor
			Title: Senior Vice President, General Counsel and Secretary

Exhibit 10.1

AMENDMENT NO. 1

TO THE HYSTER-YALE GROUP, INC.

EXECUTIVE EXCESS RETIREMENT PLAN

(Amended and Restated Effective January 1, 2016)

Hyster-Yale Group, Inc. (the “Company”) hereby adopts this Amendment No. 1 to the Hyster-Yale Group, Inc. Executive Excess Retirement Plan (Amended and Restated Effective January 1, 2016) (the “Plan”), to be effective as of May 1, 2020. Words used herein with initial capital letters which are defined in the Plan are used herein as so defined.

Section 1

The last sentence of Section 3.3 of the Plan is hereby amended in its entirety to read as follows:

“Notwithstanding the foregoing, (a) for 2012, the Participant's Excess Employer Contribution Benefit shall be an amount equal to the Matching Employer Contributions attributable to the Excess 401(k) Benefits he is prevented from receiving under the Profit Sharing Plan because of various Code limitations or as a result of his deferral of Compensation under this Plan and (b) in no event shall the Participant be entitled to receive Excess Employer Contribution Benefits under the Plan effective with the first payroll period ending on or after May 1, 2020.”

Section 2

Section 3.4 of the Plan is hereby amended adding a new sentence to the end thereof to read as follows:

“Notwithstanding anything in the Plan to the contrary, in no event shall the Participant be entitled to receive a Transitional Benefit under the Plan for Plan Years commencing on and after January 1, 2020.”

EXECUTED this 30th day of April, 2020.

HYSTER-YALE GROUP, INC.

By: /s/ Suzanne S. Taylor

Title: Senior Vice President, General Counsel and Secretary