Latest news with #TriMas
Business Wire
11 hours ago
- Business
- Business Wire
Stock Option Award and Restricted Stock Unit Award Granted as Inducement to Thomas Snyder, New President and Chief Executive Officer of TriMas
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced that, as previously disclosed in a Current Report on Form 8-K filed on June 9, 2025 with the Securities and Exchange Commission, the Company has made an inducement grant to Thomas Snyder, the newly-appointed President and Chief Executive Officer of TriMas. As approved by the Company's Board of Directors and Compensation Committee pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules, the inducement grant was made on June 24, 2025, and consists of: (1) a time-based, premium-priced and non-qualified stock option award to purchase 900,000 shares of the Company's common stock; and (2) a time-based restricted stock unit award consisting of 152,439 restricted stock units. The stock options and restricted stock units were granted outside of the terms and conditions of the TriMas Corporation 2023 Equity and Incentive Compensation Plan as an inducement to Mr. Snyder's acceptance of employment with the Company. Each of the inducement grants is generally subject to continued employment and the terms of the respective award agreement for such grant. The stock option grant consists of five tranches, with the first tranche covering 100,000 shares, and each of the remaining tranches covering 200,000 shares. The five tranches have premium exercise prices of $30, $35, $40, $45 and $50 per share, respectively, and each tranche will generally vest ratably over a five-year period from the date of grant. The stock option grant will generally have a 10-year term from the date of grant, and will be subject to pro-rata vesting (equivalent to another portion of each tranche) for Mr. Snyder's termination due to death or disability or Mr. Snyder's involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company (or anticipatory termination within 90 days prior to such a change in control). The restricted stock units will generally vest ratably over a three-year period from the date of grant, subject generally to accelerated vesting for termination due to death or disability or involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company. About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,900 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol 'TRS,' and is headquartered in Bloomfield Hills, Michigan. For more information, please visit Notice Regarding Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers' and suppliers' sustainability goals and achieve our sustainability goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law.
Yahoo
11 hours ago
- Business
- Yahoo
Stock Option Award and Restricted Stock Unit Award Granted as Inducement to Thomas Snyder, New President and Chief Executive Officer of TriMas
BLOOMFIELD HILLS, Mich., June 27, 2025--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced that, as previously disclosed in a Current Report on Form 8-K filed on June 9, 2025 with the Securities and Exchange Commission, the Company has made an inducement grant to Thomas Snyder, the newly-appointed President and Chief Executive Officer of TriMas. As approved by the Company's Board of Directors and Compensation Committee pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market Listing Rules, the inducement grant was made on June 24, 2025, and consists of: (1) a time-based, premium-priced and non-qualified stock option award to purchase 900,000 shares of the Company's common stock; and (2) a time-based restricted stock unit award consisting of 152,439 restricted stock units. The stock options and restricted stock units were granted outside of the terms and conditions of the TriMas Corporation 2023 Equity and Incentive Compensation Plan as an inducement to Mr. Snyder's acceptance of employment with the Company. Each of the inducement grants is generally subject to continued employment and the terms of the respective award agreement for such grant. The stock option grant consists of five tranches, with the first tranche covering 100,000 shares, and each of the remaining tranches covering 200,000 shares. The five tranches have premium exercise prices of $30, $35, $40, $45 and $50 per share, respectively, and each tranche will generally vest ratably over a five-year period from the date of grant. The stock option grant will generally have a 10-year term from the date of grant, and will be subject to pro-rata vesting (equivalent to another portion of each tranche) for Mr. Snyder's termination due to death or disability or Mr. Snyder's involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company (or anticipatory termination within 90 days prior to such a change in control). The restricted stock units will generally vest ratably over a three-year period from the date of grant, subject generally to accelerated vesting for termination due to death or disability or involuntary termination without cause or for good reason, as well as double-trigger vesting in the event of a change in control of the Company. About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,900 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol "TRS," and is headquartered in Bloomfield Hills, Michigan. For more information, please visit Notice Regarding Forward-Looking Statements Any "forward-looking" statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, contained herein, including those relating to TriMas' business, financial condition or future results, involve risks and uncertainties with respect to, including, but not limited to: general economic and currency conditions; competitive factors; market demand; our ability to realize our business strategies; our ability to identify attractive acquisition candidates, successfully integrate acquired operations or realize the intended benefits of such acquisitions; pressures on our supply chain, including availability of raw materials and inflationary pressures on raw material and energy costs, and customers; the performance of our subcontractors and suppliers; risks and uncertainties associated with intangible assets, including goodwill or other intangible asset impairment charges; risks associated with a concentrated customer base; information technology and other cyber-related risks; risks related to our international operations, including, but not limited to, risks relating to tensions between the United States and China; government and regulatory actions, including, without limitation, climate change legislation and other environmental regulations, as well as the impact of tariffs, quotas and surcharges; changes to fiscal and tax policies; intellectual property factors; uncertainties associated with our ability to meet customers' and suppliers' sustainability goals and achieve our sustainability goals in alignment with our own announced targets; litigation; contingent liabilities relating to acquisition activities; interest rate volatility; our leverage; liabilities imposed by our debt instruments; labor disputes and shortages; the disruption of operations from catastrophic or extraordinary events, including, but not limited to, natural disasters, geopolitical conflicts and public health crises, the amount and timing of future dividends and/or share repurchases, which remain subject to Board approval and depend on market and other conditions; our future prospects; and other risks that are detailed in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The risks described are not the only risks facing our Company. Additional risks and uncertainties not currently known to us or that we currently deemed to be immaterial also may materially adversely affect our business, financial position and results of operations or cash flows. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements, except as required by law. View source version on Contacts Sherry LauderbackVP, Investor Relations, Communications & Sustainability(248) Sign in to access your portfolio
Yahoo
10-06-2025
- Business
- Yahoo
TriMas hires new CEO from Silgan Containers
This story was originally published on Packaging Dive. To receive daily news and insights, subscribe to our free daily Packaging Dive newsletter. TriMas has chosen a successor for Thomas Amato, its president and CEO of nearly nine years. Starting June 23, Thomas Snyder will take over. TriMas announced in January that Amato would be transitioning out of the CEO role and it would conduct a search for a replacement. At that time, the company said Amato would stay with the company through June 30 to ensure a smooth leadership transition. Snyder joins TriMas from metal packaging business Silgan Containers, where he was president. Silgan Holdings issued a securities filing last week announcing Snyder's resignation and that his last day was June 4. Prior to becoming president in 2007, Snyder held other leadership positions at Silgan, including vice president of sales and marketing. Before that, he worked at the company in other engineering and management capacities. 'Thomas is an engaging and highly accomplished packaging executive with a strong track record of driving performance. We believe TriMas will benefit from Thomas' effective leadership style, operational management expertise and customer-centric approach,' said Herbert Parker, TriMas chairman of the board, in a news release. TriMas manufactures a variety of products in three distinct businesses: packaging, aerospace and specialty products. In 2024, the company reported $925 million in net sales, with $512.3 million of that in the packaging group. The Bloomfield Hills, Michigan-based company has announced several changes recently. In November 2024, TriMas unveiled its new, highly automated, 225,000-square foot facility in Haining, China, for manufacturing dispensing and airless lotion pumps, foaming pumps, caps and closures. In February, TriMas disclosed that it was continuing 'actions toward the goal of streamlining and optimizing the business portfolio.' On March 20, the company announced that Chief Financial Officer Scott Mell would leave, effective immediately, to pursue another opportunity; Teresa Finley, a board member, was named interim CFO. Recommended Reading Which packaging companies and organizations have shuffled their top leaders in 2025? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
TriMas (TRS) Up 10.2% Since Last Earnings Report: Can It Continue?
It has been about a month since the last earnings report for TriMas (TRS). Shares have added about 10.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is TriMas due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. It turns out, estimates revision have trended upward during the past month. At this time, TriMas has an average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock was allocated a grade of B on the value side, putting it in the top 40% for this investment strategy. Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. Notably, TriMas has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report TriMas Corporation (TRS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
01-05-2025
- Business
- Yahoo
Trimas Packaging Group to Showcase Innovative, Sustainable Solutions at Beauty Trade Shows
BLOOMFIELD HILLS, Mich., May 01, 2025--(BUSINESS WIRE)--TriMas Packaging, the largest operating group of TriMas (NASDAQ: TRS), is excited to announce its participation in two prestigious global trade shows this May, where it will highlight its diverse and innovative portfolio of dispensing and closure solutions designed to elevate brands in the beauty, cosmetics and personal care markets. LUXE PACK New York Date: May 7-8th, 2025 Location: Javits Center, New York City, New York Booth: #C26 TriMas Packaging will present its latest sustainable innovations, featuring the fully recyclable, all-plastic Singolo™ product family—2cc dispensers, foaming dispensers and Pro-Line pumps—engineered for exceptional performance, user convenience and recyclability. The showcase will also highlight lotion pumps, airless systems, closures, fragrance pumps and caps, and cosmetic packaging that combine functionality with luxury aesthetics. CHINA BEAUTY EXPO Date: May 12-14th, 2025 Location: Shanghai New International Expo Center, Shanghai, China Booth: #W4C09 TriMas Packaging will showcase its beauty and personal care portfolio, including high-dosage lotion pumps, foaming pumps, precision treatment pumps, sprayers, airless systems and premium fragrance pumps with high-end closures. The company will also highlight its expanding range of eco-conscious solutions, reinforcing its commitment to responsible product design, formula protection and consumer-friendly functionality. "Our TriMas Packaging team is looking forward to once again participating in both LUXE PACK New York and the China Beauty Expo, two prestigious events that celebrate excellence in beauty, cosmetics and personal care innovation," said Fabio Salik, TriMas Packaging Group President. "These events allow us to engage with industry leaders, showcase our latest product developments and highlight our commitment to sustainability, elevated design and innovative packaging solutions for global customers." About TriMas Packaging TriMas Packaging serves its global customers with its market-leading brands, consisting of Rieke®, Affaba & Ferrari™, Rapak®, Taplast™, Plastic Srl and Aarts Packaging. TriMas Packaging designs and manufactures a comprehensive array of dispensing, closure and flexible packaging solutions for a broad range of end markets including the beauty and personal care, food and beverage, home care, pharmaceutical and nutraceutical, and industrial and agricultural markets. With approximately 2,200 dedicated employees and 22 locations worldwide, TriMas Packaging's innovative solutions and services are designed to enhance customers' ability to dispense, transport and store their products safely and securely in an ever-changing marketplace. For more information, please visit About TriMas TriMas manufactures a diverse set of products primarily for the consumer products, aerospace and industrial markets through its TriMas Packaging, TriMas Aerospace and Specialty Products groups. Our approximately 3,900 dedicated employees in 13 countries provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol "TRS," and is headquartered in Bloomfield Hills, Michigan. For more information, please visit View source version on Contacts Kristin ReimCommunications Specialist(615)
