Global Industrial (NYSE: GIC) awards $1M bonus to executive chair

Rhea-AI Filing Summary

Global Industrial Company disclosed that its Board of Directors approved a one-time special cash bonus of $1,000,000 for Executive Chairman Richard B. Leeds. The payment is scheduled to be made on or about August 15, 2025.

The Board, acting on the recommendation of its Compensation Committee, granted the bonus in recognition of Mr. Leeds’ leadership and service as Interim Chief Executive Officer from August 9, 2024 through February 17, 2025. The company noted that he had not previously received any supplemental compensation for serving in that interim CEO role.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

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.

Understanding 8-K Material Events →

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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 7, 2025

Global Industrial Company

(Exact Name of Registrant as Specified in its Charter)

Delaware

1-13792

11-3262067

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

11 Harbor Park Drive, Port Washington, New York

11050

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (516) 608-7000

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 obligations 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 240.14-12)

☐ 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 CRF 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 ($.01 par value)

GIC

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 August 7, 2025, the Board of Directors (the “Board”) of Global Industrial Company (the “Company”), upon the recommendation of the Compensation Committee of the Board, awarded a one-time special cash bonus of $1,000,000 (the “Bonus”) to Richard B. Leeds, the Company’s Executive Chairman, to be paid on or about August 15, 2025. The Bonus was awarded in recognition of Mr. Leeds’ leadership and service as the Company’s Interim Chief Executive Officer from August 9, 2024 until February 17, 2025. Mr. Leeds did not previously receive any supplemental compensation in respect of his service as Interim Chief Executive Officer.

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.

			GLOBAL INDUSTRIAL COMPANY
Date: August 8, 2025
			By:			/s/ Thomas Clark
						Name: Thomas Clark
						Title: Senior Vice President and Chief Financial Officer

FAQ

What executive compensation change did Global Industrial Company (GIC) disclose?

Global Industrial Company reported that its Board approved a one-time special cash bonus of $1,000,000 for Executive Chairman Richard B. Leeds.

Why did Global Industrial Company (GIC) award a $1,000,000 bonus to Richard B. Leeds?

The bonus was awarded in recognition of Mr. Leeds’ leadership and service as the company’s Interim Chief Executive Officer from August 9, 2024 to February 17, 2025.

When will Richard B. Leeds receive the special bonus from Global Industrial Company (GIC)?

The one-time special cash bonus of $1,000,000 is scheduled to be paid on or about August 15, 2025.

Did Richard B. Leeds receive prior extra compensation for serving as Interim CEO of Global Industrial (GIC)?

The company stated that Mr. Leeds did not previously receive any supplemental compensation for his service as Interim Chief Executive Officer.

Who approved the special cash bonus at Global Industrial Company (GIC)?

The Board of Directors approved the bonus for Richard B. Leeds, acting on the recommendation of the Board’s Compensation Committee.

What roles does Richard B. Leeds hold at Global Industrial Company (GIC)?

Richard B. Leeds is the company’s Executive Chairman and previously served as Interim Chief Executive Officer from August 9, 2024 to February 17, 2025.