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MSC Industrial (NYSE: MSM) outlines exit and transition terms for Neal Dongre

(Neutral)
(Neutral)
Form Type
8-K/A

Rhea-AI Filing Summary

MSC Industrial Direct Co., Inc. filed an amendment describing a Transition Agreement for Senior Vice President, General Counsel and Corporate Secretary Neal Dongre. Sid Tool Co., Inc., a wholly owned subsidiary, and Mr. Dongre entered into the agreement on July 14, 2026.

Mr. Dongre will move to the role of Special Advisor effective July 20, 2026 and remain employed to assist with transition duties until August 31, 2026. In return for his continued service and a comprehensive release of claims, he will continue to receive his current salary, remain eligible for health benefits, and maintain applicable vesting of outstanding equity awards while employed. If he assists with the transition to his successor and remains through the Separation Date, he will be eligible for his fiscal 2026 annual cash performance bonus and accelerated vesting of certain equity awards as detailed in the Transition Agreement.

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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.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Transition Agreement date July 14, 2026 Date Sid Tool Co., Inc. and Neal Dongre entered into the Transition Agreement
Transition Date July 20, 2026 Effective date of Dongre’s move to Special Advisor
Separation Date August 31, 2026 Date through which Dongre will remain employed as Special Advisor
Transition Agreement regulatory
"entered into an Agreement and Release (the “Transition Agreement”)"
Special Advisor other
"to Special Advisor of the Company, effective as of July 20, 2026"
A Special Advisor is an expert brought in to give advice on specific issues or situations, often to government leaders or companies. They don't make laws or decisions themselves but offer guidance to help leaders make informed choices, like consulting a specialist before making a big move.
annual cash performance bonus financial
"an amount equal to the annual cash performance bonus that he would have been eligible"
accelerated vesting financial
"eligible to receive (i) an amount equal ... and (ii) accelerated vesting of certain outstanding equity awards"
comprehensive release of claims regulatory
"in consideration for ... the comprehensive release of claims against the Company"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What does MSC Industrial (MSM) disclose in this 8-K/A amendment?

The amendment details a Transition Agreement with Neal Dongre, outlining his move from General Counsel to Special Advisor, continued salary and benefits, and potential bonus and equity vesting through August 31, 2026.

What is Neal Dongre’s new role at MSC Industrial (MSM) and for how long?

Neal Dongre will serve as Special Advisor beginning July 20, 2026 and remain employed through August 31, 2026 to assist with transitioning his former duties to his successor.

What compensation will Neal Dongre receive during his transition at MSC Industrial (MSM)?

From the Transition Date until August 31, 2026, Neal Dongre will receive his current salary, be eligible for health benefits, and maintain applicable vesting of outstanding equity awards while he remains employed.

Is Neal Dongre eligible for a bonus under the MSC Industrial (MSM) Transition Agreement?

Yes. If he assists with the transition and remains employed through August 31, 2026, he is eligible for the annual cash performance bonus he would have received for fiscal 2026 under the company’s bonus plan.

How are equity awards treated for Neal Dongre under the MSC Industrial (MSM) agreement?

While employed as Special Advisor, existing equity awards continue to vest as applicable, and if conditions are met, certain awards will receive accelerated vesting as specified in the Transition Agreement filed as Exhibit 10.1.

What does Neal Dongre provide to MSC Industrial (MSM) in exchange for these transition benefits?

In exchange for continued salary, benefits, bonus eligibility, and equity treatment, Neal Dongre agrees to assist with the transition and grant a comprehensive release of claims against MSC Industrial and its affiliates.
0001003078FALSE00010030782026-04-102026-04-10



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K/A
(Amendment No. 1)
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 10, 2026
___________________________________
MSC INDUSTRIAL DIRECT CO., INC.
(Exact name of registrant as specified in its charter)
___________________________________

New York

1-14130

11-3289165
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
515 Broadhollow Road, Suite 1000, Melville, New York
11747
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code: (516) 812-2000

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:

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
Class A Common Stock, par value $0.001 per share
MSM
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. ☐





Explanatory Note

This Amendment No. 1 amends the Current Report on Form 8-K filed by MSC Industrial Direct Co., Inc. (the “Company”) on April 15, 2026 (the “Original 8-K”) regarding the voluntary resignation of Neal Dongre as the Senior Vice President, General Counsel and Corporate Secretary of the Company. The Company is filing this Amendment No. 1 to disclose the details of Mr. Dongre’s resignation that were not determined at the time of filing the Original 8-K.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers

On July 14, 2026, Sid Tool Co., Inc., a wholly-owned subsidiary of the Company, and Mr. Dongre entered into an Agreement and Release (the “Transition Agreement”) in connection with Mr. Dongre’s transition from his position as Senior Vice President, General Counsel and Corporate Secretary of the Company to Special Advisor of the Company, effective as of July 20, 2026 (the “Transition Date”). Pursuant to the Transition Agreement, Mr. Dongre will remain employed with the Company as Special Advisor to assist with the transition of his duties until August 31, 2026 (the “Separation Date”).

In consideration for Mr. Dongre’s continuing service to the Company as Special Advisor and the comprehensive release of claims against the Company and its affiliates in the Transition Agreement, Mr. Dongre will be entitled to continue to receive his current salary and will be eligible for health benefits and applicable vesting of outstanding equity awards, in each case, beginning on the Transition Date and ending on the day on which he is no longer employed by the Company. Further, in consideration for Mr. Dongre’s assistance with the transition to his successor and his continued service to the Company through the Separation Date, Mr. Dongre will be eligible to receive (i) an amount equal to the annual cash performance bonus that he would have been eligible to receive in respect of the Company’s fiscal year 2026 under the Company’s annual performance bonus plan if he had remained employed with the Company through the date on which bonuses are paid for fiscal year 2026 and (ii) accelerated vesting of certain outstanding equity awards granted under the Company’s executive compensation plans as set forth in the Transition Agreement.

The foregoing description of the terms and conditions of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transition Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference herein.

Item 9.01. Financial Statements and Exhibits
(d) Exhibits:

10.1
Agreement and Release dated July 14, 2026, by and between Sid Tool Co., Inc. and Neal Dongre.
104
Cover Page Interactive Data File (embedded within the Inline XBRL documents).
2



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.


MSC INDUSTRIAL DIRECT CO., INC.
Date:
July 17, 2026
By:
/s/ GREG CLARK
Name:
Greg Clark
Title:
Vice President and Interim Chief Financial Officer
3

Filing Exhibits & Attachments

4 documents