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Albemarle (NYSE: ALB) taps Max Hood as $400K-a-year accounting chief

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Filing Sentiment
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Form Type
8-K

Rhea-AI Filing Summary

ALBEMARLE CORP (ALB) reported that its Board of Directors appointed Max W. Hood as Chief Accounting Officer, effective August 24, 2026. Upon appointment he will serve as the company’s principal accounting officer.

Hood, age 47, previously served as co-Chief Financial Officer of The ODP Corporation, after earlier roles there as Chief Accounting Officer and Controller and in accounting and treasury. His compensation includes a $400,000 annual base salary, a 2026 target bonus equal to 50% of eligible earnings (prorated for 2026), participation in a long-term incentive plan with a target value of 70% of base salary, and a sign-on grant of restricted stock units valued at $200,000 that vest in three equal annual installments. The company states there are no family relationships, related-party transactions, or special arrangements connected to his appointment.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Annual base salary $400,000 Base salary for Max W. Hood as Chief Accounting Officer
2026 target bonus 50% of eligible earnings Annual incentive plan target for 2026, prorated for months employed
Long-term incentive plan target 70% of base salary Target value of long-term incentives for Max W. Hood
Sign-on RSU grant value $200,000 Restricted stock units granted at hire, vesting over three years
Vesting schedule 3 equal annual increments RSUs vest on the first, second and third anniversaries of grant
Effective date of appointment August 24, 2026 Date Max W. Hood becomes Chief Accounting Officer
Age of appointee 47 Age of Max W. Hood at time of appointment
Chief Accounting Officer financial
"appointed Max W. Hood as the Company’s Chief Accounting Officer"
A chief accounting officer is a senior executive responsible for overseeing a company's financial records and ensuring all accounting practices are accurate and compliant with regulations. They play a key role in preparing financial reports that help investors understand the company's financial health, much like a trusted navigator guiding a ship through complex waters. Their work ensures transparency and trust in the company's financial information.
principal accounting officer financial
"Mr. Hood will assume the role of the Company’s principal accounting officer"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
restricted stock units financial
"A sign-on grant of restricted stock units with a value at the time of grant"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
long-term incentive plan financial
"Participation in the Company’s long-term incentive plan with a total target value"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
mandatory convertible preferred stock financial
"DEPOSITARY SHARES, each representing a 1/20th interest in a share of 7.25% Series A Mandatory Convertible Preferred Stock"
A mandatory convertible preferred stock is a type of investment that pays regular income like a preferred share but is designed to automatically turn into a set number of common shares at a future date, much like a timed coupon that becomes company ownership. It matters to investors because it combines a near-term income stream with a guaranteed future increase in the company’s share count, which can dilute existing owners and change earnings-per-share and voting balance.

FAQ

What executive change did ALB (Albemarle Corporation) announce on August 19, 2026?
Albemarle Corporation announced that its Board appointed Max W. Hood as Chief Accounting Officer, effective August 24, 2026, and that he will serve as the company’s principal accounting officer upon his appointment.

What is Max W. Hood’s background before joining ALB as Chief Accounting Officer?
Max W. Hood most recently served as co-Chief Financial Officer of The ODP Corporation. Since joining ODP in 2018, he held roles including Vice President, Accounting and Treasury and Chief Accounting Officer and Controller, and previously held finance and accounting leadership positions at General Electric Company and Deloitte.

What is the base salary for Albemarle’s new Chief Accounting Officer?
Albemarle’s new Chief Accounting Officer, Max W. Hood, will receive an annual base salary of $400,000 under the material terms of his employment summarized in the report.

How is the 2026 bonus for ALB’s new Chief Accounting Officer structured?
For 2026, Max W. Hood will participate in Albemarle’s annual incentive plan with a target bonus of 50% of eligible earnings, prorated based on the number of months he is employed during 2026.

What long-term and equity incentives will ALB grant to Max W. Hood?
Max W. Hood will participate in Albemarle’s long-term incentive plan with a target value of 70% of base salary and will receive a sign-on grant of restricted stock units valued at $200,000, vesting in three equal increments on each of the first, second and third anniversaries of the grant date.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): August 19, 2026

_________________________________
ALBEMARLE CORPORATION
(Exact name of registrant as specified in charter)
_________________________________
Virginia001-1265854-1692118
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(IRS Employer
Identification No.)
4250 Congress Street, Suite 900
Charlotte, North Carolina 28209
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (980) 299-5700
Not applicable
(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 (see General Instruction A.2. below):
☐ 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 classTrading SymbolName of each exchange on which registered
COMMON STOCK, $.01 Par ValueALBNew York Stock Exchange
DEPOSITARY SHARES, each representing a 1/20th interest in a share of 7.25% Series A Mandatory Convertible Preferred StockALB PR ANew 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 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
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 August 19, 2026, the Board of Directors of Albemarle Corporation (the “Company”) appointed Max W. Hood as the Company’s Chief Accounting Officer, effective August 24, 2026. Upon appointment, Mr. Hood will assume the role of the Company’s principal accounting officer.

Mr. Hood, age 47, most recently served as co-Chief Financial Officer of The ODP Corporation (“ODP”), a publicly traded provider of business services and workplace products and solutions. Mr. Hood joined ODP in 2018, serving as Vice President, Accounting and Treasury and then as Chief Accounting Officer and Controller before his appointment as co-Chief Financial Officer in December 2024.In these roles, he led a broad range of finance functions, including accounting, tax, treasury, investor relations, internal audit, strategy, transformation, and mergers and acquisitions. Prior to joining ODP, Mr. Hood held various finance and accounting leadership positions at General Electric Company and Deloitte.

There are no family relationships between Mr. Hood and any other director or executive officer of the Company that would require disclosure under Item 401(d) of Regulation S-K, and no transactions involving Mr. Hood that would require disclosure under Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Hood and any other persons pursuant to which Mr. Hood was appointed as Chief Accounting Officer.

The material terms and conditions of Mr. Hood’s employment are summarized below:

•Annual base salary of $400,000;

•Participation in the Company’s annual incentive plan, with a 2026 target bonus of 50% of eligible earnings, prorated based on the number of months employed in 2026;

•Participation in the Company’s long-term incentive plan with a total target value of 70% of base salary;

•A sign-on grant of restricted stock units with a value at the time of grant equal to $200,000, vesting in three equal increments on each of the first, second and third anniversary of the grant date;

•Eligibility to participate in the Company’s standard benefit programs, subject to the terms and conditions of the applicable program or successor program.



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.

ALBEMARLE CORPORATION
Date: August 21, 2026By:/s/ Ander C. Krupa
Ander C. Krupa
General Counsel and Corporate Secretary


Source: View Original Filing on SEC EDGAR

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