The Timken Company (NYSE: TKR) hires Stephen Ribaudo as new COO
Rhea-AI Filing Summary
The Timken Company’s board appointed Stephen P. Ribaudo as Executive Vice President and Chief Operating Officer, effective September 1, 2026. Ribaudo, 41, joins from Carrier Global Corporation, where he held senior leadership roles in Commercial HVAC Americas and global operations, and previously served at Collins Aerospace.
His compensation includes a $670,000 base salary, an annual bonus targeted at 80% of salary starting in 2026, and long-term equity incentives with a first-year target of at least $1,794,000, plus a $250,000 cash sign-on bonus and a $1,000,000 make-whole RSU award. A Severance Agreement provides one times salary plus target bonus for qualifying terminations before a change in control, and two times after a change in control, along with continued benefits. Upon his start, Timothy A. Graham will become Executive Vice President and Chief Commercial Officer, leading enterprise-wide commercial strategy and sales execution.
Positive
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Negative
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Filing Explained
The severance arrangement is not yet a finalized agreement: the filing says Stephen P. Ribaudo will enter one in a form and substance still subject to approval by the Board or an applicable Board committee.
8-K Event Classification
2 items: 5.02, 8.01
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 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Key Figures
Base salary: $670,000 per year
Short-term incentive target: 80% of earned annual base salary
Long-term equity incentive target: at least $1,794,000
+3 more
6 metrics
Base salary
$670,000 per year
Annual base salary for Stephen P. Ribaudo as EVP and COO
Short-term incentive target
80% of earned annual base salary
Target annual bonus opportunity starting with 2026
Long-term equity incentive target
at least $1,794,000
Aggregate target award opportunity for first year’s grant beginning 2026
Cash sign-on payment
$250,000
One-time cash sign-on payment to Stephen P. Ribaudo
Make-whole RSU award
$1,000,000
Time-based RSU award vesting in one-third amounts over three years
Severance multiple after change in control
2x base salary plus target annual incentive
Cash severance for qualifying termination within two years after a change in control
Key Terms
restricted stock units, performance-based RSUs, Severance Agreement, change in control, +1 more
5 terms
restricted stock units financial
"time-based restricted stock units (“RSUs”) that generally vest ratably"
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-based RSUs financial
"plus target performance-based RSUs for the 2026-2028 performance period"
Performance-based restricted stock units (RSUs) are promises to deliver company shares to employees only if the business meets specific goals, such as revenue, profit, stock-price targets, or strategic milestones. For investors, they matter because they change future share supply and align management incentives with company results—like a salesperson whose bonus only pays out when sales targets are hit—so they can affect earnings, dilution, and confidence in leadership.
Severance Agreement financial
"will also enter into a Severance Agreement with the Company"
change in control financial
"qualifying termination within two years after a change in control of the Company"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
non-competition regulatory
"compliance with customary confidentiality, non-competition and other restrictive covenants"
A non-competition is a contractual restriction that prevents a person or business from starting or working in a competing business within a specified time and geographic area after leaving a job or completing a transaction. It matters to investors because it acts like a temporary fence around customers, trade secrets and know‑how, helping protect future revenue and company value; weak or unenforceable restrictions can increase the risk of customer loss and competitive erosion.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What executive leadership change did The Timken Company (TKR) announce?
The Timken Company appointed Stephen P. Ribaudo as Executive Vice President and Chief Operating Officer, effective September 1, 2026. He joins from Carrier Global Corporation, bringing experience in Commercial HVAC and aerospace-related operations leadership roles.
What is Stephen P. Ribaudo’s compensation package at Timken (TKR)?
Stephen P. Ribaudo will receive a $670,000 base salary, an annual bonus targeted at 80% of salary, long-term equity incentives with at least $1,794,000 first-year target value, a $250,000 cash sign-on bonus and a $1,000,000 make-whole RSU award.
How is Stephen P. Ribaudo’s equity compensation at Timken (TKR) structured?
Equity compensation includes time-based restricted stock units (RSUs) vesting over four years and performance-based RSUs for the 2026–2028 performance period, on substantially the same terms as similar awards granted to other executive officers of the company.
What severance protections will Stephen P. Ribaudo have at Timken (TKR)?
Under a Severance Agreement, a qualifying termination before a change in control yields cash equal to one times salary plus target bonus; within two years after a change in control, this increases to two times, plus continued medical benefits and outplacement services.
What role will Timothy A. Graham assume at The Timken Company (TKR)?
Effective when Stephen P. Ribaudo starts, Timothy A. Graham will become Executive Vice President and Chief Commercial Officer, leading enterprise-wide commercial strategy, marketing, sales excellence, and overseeing sales execution and revenue growth across the company’s regions.