Graham Corporation (NYSE: GHM) sets 2027 executive equity and cash bonus awards

Rhea-AI Filing Summary

FAQ

Filing Exhibits & Attachments

8-K Event Classification

Key Figures

Key Terms

What executive equity awards did Graham Corporation (GHM) grant for Fiscal 2027?

How do Graham Corporation’s (GHM) Fiscal 2027 PSUs vest for executives?

What are the target cash bonus percentages for Graham (GHM) executives in Fiscal 2027?

What performance metrics drive Graham Corporation’s (GHM) executive cash bonuses?

What stock awards did Graham Corporation (GHM) non-employee directors receive in 2026?

Why is Alan Smith not included in Graham (GHM) Fiscal 2027 incentive programs?

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Graham Corporation updated its incentive plans for senior executives and directors for the fiscal year ending March 31, 2027. The Compensation Committee renewed and amended the stock-based Long-Term Incentive Award Plan, granting both time-vesting RSUs and performance-vesting PSUs to named executive officers. CEO Matthew Malone received 6,036 RSUs and 12,072 PSUs, Executive Chairman Daniel J. Thoren received 629 RSUs and 1,258 PSUs, and CFO Christopher J. Thome received 1,408 RSUs and 2,816 PSUs. RSUs vest over three years, while PSUs cliff-vest after three years based on return on invested capital change and cumulative revenue growth, with no payout below threshold. The company also amended its executive cash bonus program, setting target bonuses at 50% of base salary for Thoren, 100% for Malone, and 70% for Thome, with actual payouts ranging from 0% to 200% of target based on performance. Separately, non-employee directors each received 905 RSUs, calculated from a $90,000 grant value using the June 1, 2026 NYSE closing price of $99.41 per share.

2 items: 5.02, 9.01

2 items

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.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

CEO equity grant: 6,036 RSUs; 12,072 PSUs Executive Chairman equity grant: 629 RSUs; 1,258 PSUs CFO equity grant: 1,408 RSUs; 2,816 PSUs +5 more

8 metrics

CEO equity grant 6,036 RSUs; 12,072 PSUs Matthew Malone Fiscal 2027 LTI awards

Executive Chairman equity grant 629 RSUs; 1,258 PSUs Daniel J. Thoren Fiscal 2027 LTI awards

CFO equity grant 1,408 RSUs; 2,816 PSUs Christopher J. Thome Fiscal 2027 LTI awards

Director RSU grant 905 RSUs each Non-employee directors’ annual stock-based grant

Grant date share price $99.41 per share NYSE closing price on June 1, 2026

Executive L-T percentages 50%, 200%, 70% Thoren, Malone, Thome L-T Percentages for Fiscal 2027

Cash bonus targets 50%, 100%, 70% of base salary Thoren, Malone, Thome Fiscal 2027 target bonuses

Bonus metric weighting 40% EBITDA, 20% bookings, 20% safety, 20% personal Fiscal 2027 executive cash bonus program

restricted stock units, performance-vesting restricted stock units, return on invested capital, cumulative revenue growth, +1 more

5 terms

restricted stock units financial

"approved grants of time-vesting restricted stock units (“RSUs”) and performance-vesting restricted stock units"

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.

performance-vesting restricted stock units financial

"Awards of PSUs vest on the third anniversary of the date of grant"

Performance-vesting restricted stock units are a form of employee pay where future company shares are granted only if the business meets specific targets, such as revenue, profit, or stock-price goals. Think of them as a bonus you earn only when certain milestones are hit; for investors they matter because they can increase the number of shares outstanding if goals are met and they reveal how management is being motivated to hit particular financial or operational objectives.

return on invested capital financial

"50% based upon the Company’s three-year average return on invested capital change metric"

A percentage that shows how effectively a company turns the money invested in its business—both borrowed funds and shareholders’ equity—into operating profit after taxes. It tells investors whether a company earns more from its core operations than it costs to fund those operations; think of it like the annual return you’d expect from renovating a rental property—higher percentages mean the company uses capital more efficiently and is more likely to create value for shareholders.

cumulative revenue growth financial

"50% based upon the Company’s three-year cumulative revenue growth metric"

Adjusted EBITDA financial

"A summary of the performance goal weightings for the Company’s named executive officers for Fiscal 2027 is as follows Adjusted EBITDA"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

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Understanding 8-K Material Events →

06/05/2026 - 04:34 PM

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): June 1, 2026

Graham Corporation

(Exact name of Registrant as specified in its charter)

Delaware

001-08462

16-1194720

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)


20 Florence Avenue, Batavia, New York		14020
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (585) 343-2216

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
Common Stock, par value $0.10 per share	GHM	NYSE

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.

Fiscal 2027 Annual Stock-Based Long-Term Incentive Award Plan for Senior Executives. On June 1, 2026, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of Graham Corporation (the “Company”) renewed and amended its Annual Long-Term Incentive Award Plan for Senior Executives (the “LTI Bonus Program”) for the fiscal year ending March 31, 2027 (“Fiscal 2027”) and approved grants of time-vesting restricted stock units (“RSUs”) and performance-vesting restricted stock units (“PSUs”) thereunder in the amounts set forth below to the Company’s named executive officers. All grants were made under the 2020 Graham Corporation Equity Incentive Plan (the “Plan”).

The RSUs granted to the Company’s named executive officers vest one-third on each of the first three anniversaries of the date of grant subject to continued employment through the vesting date.

Awards of PSUs vest on the third anniversary of the date of grant with 50% based upon the Company’s three-year average return on invested capital change metric and 50% based upon the Company’s three-year cumulative revenue growth metric with no payout if the results are below threshold. The PSUs will only vest if the recipient is still employed by the Company on the vesting date.

The number of shares of RSUs and PSUs awarded to the Company’s named executive officers under the LTI Bonus Program were determined using a Long-Term Incentive Percentage (the “L-T Percentage”) for each such officer. The Compensation Committee set the L-T Percentage for each of the Company’s named executive officers for Fiscal 2027 as follows: Daniel J. Thoren – 50%; Matthew Malone – 200%; and Christopher J. Thome – 70%. As previously disclosed, Alan Smith, effective April 1, 2026, retired from his position as Vice President and General Manager of Graham Manufacturing, and transitioned to an advisory role with the Company. As a result, Mr. Smith will not participate in the LTI Bonus Program or the Cash Bonus Program (as defined below) for Fiscal 2027. The number of RSUs awarded was determined by multiplying 50% of each named executive officer’s base salary in effect on the date of grant by such officer’s L-T Percentage, and then dividing the product by the closing price of the Company’s common stock on the NYSE on the date of grant. The number of PSUs was determined by multiplying 50% of each named executive officer’s base salary in effect on the date of grant by such officer’s L-T Percentage, and then dividing the product by the closing price of the Company’s common stock on the NYSE on the date of grant.


Named Executive Officer	Number of RSUs Granted		Number of PSUs Granted⁽¹⁾
Matthew Malone President and Chief Executive Officer		6,036		12,072
Daniel J. Thoren Executive Chairman		629		1,258
Christopher J. Thome Vice President – Finance, Chief Financial Officer and Chief Accounting Officer		1,408		2,816

⁽¹⁾	Represents the maximum number of PSUs that may be earned if the maximum level of performance is achieved.

The foregoing descriptions of the LTI Bonus Program in effect for Fiscal 2027 does not purport to be complete and is qualified in its entirety by the LTI Bonus Program a copy of which is attached to this Current Report on Form 8–K as Exhibit 10.1 and is incorporated herein by reference.

Fiscal 2027 Annual Executive Cash Bonus Program. On June 1, 2026, the Company also amended the Company’s Annual Executive Cash Bonus Program (the “Cash Bonus Program”) for Fiscal 2027. The target bonus levels under the Cash Bonus Program at 100% attainment of both Company and personal objectives are as follows: Daniel J. Thoren – 50% of base salary; Matthew Malone – 100% of base salary; and Christopher J. Thome – 70% of base salary. Each named executive officer will be eligible to receive anywhere from 0% to 200% of his target bonus level depending on the attainment of such objectives. A summary of the performance goal weightings for the Company’s named executive officers for Fiscal 2027 is as follows:


Adjusted EBITDA	Bookings	Safety Goals⁽¹⁾	Personal Goals
40%	20%	20%	20%

(1)	For Messrs. Thoren, Malone and Thome the Safety Goals shall be based on the consolidated total recordable incident rate, subject to a minimum threshold achieved for each business unit and subject to the discretion of the Board upon the occurrence of a catastrophic safety event.

The foregoing descriptions of the Cash Bonus Program in effect for Fiscal 2027 does not purport to be complete and is qualified in its entirety by the Cash Bonus Program a copy of which is attached to this Current Report on Form 8–K as Exhibit 10.2 and is incorporated herein by reference.

Annual Stock-Based Grant to Non-Employee Directors. Also on June 1, 2026, the Compensation Committee approved the grant of RSUs under the Plan in the amounts set forth below to the Company’s non-employee Directors.


Director		Number of RSUs Awarded
James J. Barber, Ph.D.		905
Cari L. Jaroslawsky		905
Jonathan W. Painter		905
Lisa M. Schnorr		905
Troy A. Stoner		905
Mauro Gregorio		905

The number of RSUs awarded to each of the Company’s non-employee Directors was determined by dividing $90,000 by the closing price of the Company’s common stock on the NYSE on the date of grant. The closing price of the Company’s common stock on the NYSE on June 1, 2026 was $99.41 per share.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.


Exhibit No.		Description

#10.1		Graham Corporation Annual Stock-Based Long-Term Incentive Award Plan for Senior Executives in effect for the fiscal year ending March 31, 2027

#10.2		Graham Corporation Annual Executive Cash Bonus Program in effect for Company’s named executive officers for the fiscal year ending March 31, 2027

104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

#	Management contract or compensatory plan.

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.

Source: View Original Filing on SEC EDGAR

Graham granted RSUs and PSUs to senior executives under its long-term incentive plan. CEO Matthew Malone received 6,036 RSUs and 12,072 PSUs, Executive Chairman Daniel Thoren 629 RSUs and 1,258 PSUs, and CFO Christopher Thome 1,408 RSUs and 2,816 PSUs.

Performance stock units vest on the third anniversary of grant. Vesting depends 50% on three-year average return on invested capital change and 50% on three-year cumulative revenue growth, with no payout if performance is below threshold and continued employment required.

For Fiscal 2027, target cash bonuses are 50% of base salary for Executive Chairman Daniel Thoren, 100% for CEO Matthew Malone, and 70% for CFO Christopher Thome, with actual payouts between 0% and 200% of target based on performance objectives.

Cash bonuses for named executives are weighted 40% to Adjusted EBITDA, 20% to bookings, 20% to safety goals, and 20% to personal goals. Each executive’s payout can range from 0% to 200% of their target level based on these metrics.

On June 1, 2026, each non-employee director, including James Barber and Lisa Schnorr, received 905 RSUs. The grant size was determined by dividing a $90,000 value by Graham’s NYSE closing stock price of $99.41 per share on the grant date.

Alan Smith retired as Vice President and General Manager of Graham Manufacturing effective April 1, 2026 and moved to an advisory role. Because of this status, he will not participate in the Fiscal 2027 long-term incentive or annual cash bonus programs.

Graham Corporation

Date: June 5, 2026

/s/ Christopher J. Thome

Christopher J. Thome

Vice President – Finance, Chief Financial Officer and Chief Accounting Officer

5 documents