Amendment: Green Plains Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$GPRE
Major Chemicals
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K/A
(Amendment No.1)
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 28, 2025
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(Exact name of registrant as specified in its charter)
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| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices) (Zip Code)
(402 ) 884-8700
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
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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:
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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 ☐
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Explanatory Note
On February 28, 2025, Green Plains Inc. (the “Company”) filed a Current Report on Form 8-K (the “Form 8-K”) with the Securities and Exchange Commission to report the departure of Todd Becker as President and Chief Executive Officer and member of the Board of Directors of the Company effective March 1, 2025, as well as the creation of an Executive Committee to lead the Company until Mr. Becker’s successor is appointed and the designation of Michelle Mapes as interim principal executive officer, effective as of March 1, 2025, for purposes of the rules and regulations of the Securities Exchange Commission. Such Form 8-K reported that compensatory arrangements for Mr. Becker. This Amendment No. 1 now amends the Form 8-K to report the Company has also entered into an amended employment agreement with Ms. Mapes and eliminated the position of Chief Transformation Officer.
Except as provided herein, the disclosures in the Form 8-K remain unchanged.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 27, 2025, in connection with the expansion of Ms. Mapes’ duties and the corporate reorganization and cost reduction initiative, the Company amended the employment agreement (“Amendment”) dated February 3, 2020, with Ms. Mapes, attached as Exhibit 10.1 hereto. Ms. Mapes shall have the following areas of responsibility: Corporate Secretary to the Board, Carbon, Legal, Compliance, Insurance, Government Relations, Communications and a leadership role with respect to restructure related and strategic initiatives. Pursuant to the Amendment, Ms. Mapes shall continue employment through no later than December 31, 2025, unless extended by mutual agreement, and the Amendment memorializes that Ms. Mapes will receive her current base salary at the annualized rate of $450,000 and will receive her current severance of six months base salary, along with the vesting of all outstanding restricted shares, with performance share awards vesting at target. The Amendment further provides that the payment of her annual bonus for 2025 shall be in an amount no less than 2024, and that she shall receive the equivalent of 12 months health insurance premium. The planned departure of Ms. Mapes as Chief Legal & Administration Officer and Corporate Secretary of the Company is not due to any disagreement with the Company.
The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.2 to this Current Report on Form 8-K/A and incorporated herein by reference.
On February 28, 2025, in connection with the corporate reorganization and cost reduction initiative, the Company eliminated the position of Chief Transformation Officer of the Company, a position held by Patrich Simpkins. Mr. Simpkins has moved to Chief Executive Officer of Fluid Quip Technologies, LLC, a majority owned subsidiary of the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed as part of this report.
| Exhibit No. | Description of Exhibit | ||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | ||||||||||
SIGNATURE
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.
| Green Plains Inc. | |||||||||||
| Date: March 4, 2025 | By: | /s/ Philip B. Boggs | |||||||||
| Philip B. Boggs | |||||||||||
Chief Financial Officer (Principal Financial Officer) | |||||||||||