TENNECO INC IL false 0001024725 0001024725 2021-05-14 2021-05-14 0001024725 us-gaap:CommonClassAMember 2021-05-14 2021-05-14 0001024725 us-gaap:PreferredStockMember 2021-05-14 2021-05-14

 

 

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): May 18, 2021 (May 14, 2021)

 

 

TENNECO INC.

(Exact Name of Registrant as Specified in Charter)

 

 

 

Delaware   1-12387   76-0515284
(State or Other Jurisdiction
of Incorporation) 		  (Commission
File Number) 		  (IRS Employer
Identification No.)

 

500 NORTH FIELD DRIVE, LAKE FOREST, ILLINOIS   60045
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code: (847) 482-5000

 

 

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

 

Name of each exchange
on which registered

Class A Voting Common Stock, par value $0.01 per share   TEN   New York Stock Exchange
Preferred Stock Purchase Rights     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 May 14, 2021, at the annual meeting of stockholders of Tenneco Inc. (the “Company”), the Company’s stockholders approved the Tenneco Inc. 2021 Long-Term Incentive Plan (the “Plan”), effective May 14, 2021. The Company’s board of directors previously adopted the Plan on February 22, 2021, subject to stockholder approval. The number of shares of common stock, par value $0.01, of the Company available for issuance under the Plan is 2,375,000 as of May 14, 2021.

For a description of the Plan, see section entitled “Approve the 2021 LTIP (Item 4)” of the Company’s definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission (the “SEC”) on April 1, 2021 (the “Proxy Statement”), which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. A copy of the Plan was attached as Appendix A to the Proxy Statement and is included as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.

ITEM 5.07 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

On May 14, 2021, Tenneco Inc. (the “Company”) held its 2021 Annual Meeting of Stockholders. The stockholders voted on the matters set forth below.

1. The nominees for election to the Board of Directors were elected, each for a one-year term, based upon the following votes:

 

Nominee    Votes For    Votes Against    Abstentions    Broker Non-Votes

Roy V. Armes

   38,784,907    414,999    12,167,583    13,942,731

Thomas C. Freyman

   38,504,529    699,566    12,163,394    13,942,731

Denise Gray

   38,597,245    619,834    12,150,410    13,942,731

Brian J. Kesseler

   39,677,924    714,252    10,975,313    13,942,731

Dennis J. Letham

   39,927,555    373,572    11,066,362    13,942,731

James S. Metcalf

   38,377,246    812,840    12,177,403    13,942,731

Aleksandra A. Miziolek

   38,597,955    607,413    12,162,121    13,942,731

Charles K. Stevens, III

   38,073,231    1,153,221    12,141,037    13,942,731

John S. Stroup

   38,413,933    715,415    12,238,141    13,942,731

Jane L. Warner

   38,333,901    899,160    12,134,428    13,942,731

2. The proposal to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent public accountants for 2021 was approved based upon the following votes:

 

Votes for

   53,433,011

Votes against

   359,066

Abstentions

   11,518,143

There were no broker non-votes for this item.

3. The proposal to approve the compensation of our named executive officers was approved based upon the following advisory, non-binding vote:

 

Votes for

   36,709,960

Votes against

   3,564,045

Abstentions

   11,093,484

Broker non-votes

   13,942,731

4. The proposal to approve the Tenneco Inc. 2021 Long-Term Incentive Plan was approved based upon the following vote:

 

Votes for

   38,102,169

Votes against

   2,284,948

Abstentions

   10,980,372

Broker non-votes

   13,942,731

5. The proposal to ratify the Section 382 Rights Agreement was approved based upon the following vote:

 

Votes for

   37,372,065

Votes against

   2,757,835

Abstentions

   11,237,589

Broker non-votes

   13,942,731

 

ITEM 9.01

FINANCIAL STATEMENTS AND EXHIBITS.

 

(d)

Exhibits

 

Exhibit No.    Description
10.1    Description of the Tenneco Inc. 2021 Long-Term Incentive Plan effective May 14, 2021 (incorporated by reference to Approve the 2021 LTIP (Item 4) of Tenneco’s Definitive Proxy Statement filed on April 1, 2021).
10.2    Tenneco Inc. 2021 Long-Term Incentive Plan effective May 14, 2021 (incorporated by reference to Appendix A of Tenneco’s Definitive Proxy Statement filed on April 1, 2021).
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.

 

    TENNECO INC.  
Date: May 18, 2021     By:  

  /s/ Thomas J. Sabatino, Jr.

 
        Thomas J. Sabatino, Jr.  
     

Executive Vice President, General Counsel and Corporate Secretary

 
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