Weyco Group (NASDAQ: WEYS) moves to terminate overfunded pension plan

(High)

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Weyco Group, Inc. is ending its defined benefit pension arrangement. On June 22, 2026, the Board approved terminating the Weyco Group, Inc. Pension Plan and its related Pension Trust, with an effective date of August 31, 2026, subject to review by the Pension Benefit Guaranty Corporation under its standard termination procedures.

The Plan covers about 400 participants, including former employees and active employees who no longer accrue new pension benefits. Weyco states it does not expect to make additional cash contributions at termination because the Plan was overfunded as of December 31, 2025. The company says the action will not change benefits already earned by impacted participants, and it retains the legal right to change or revoke the termination decision, though it indicates no current intent to do so.

Insights

Weyco is winding down an overfunded pension plan without cutting earned benefits.

Weyco Group is terminating its defined benefit pension plan and trust, effective August 31, 2026, subject to Pension Benefit Guaranty Corporation review. The company describes the plan as overfunded as of December 31, 2025, and does not expect additional cash contributions at termination.

Because approximately 400 participants keep the same earned benefit levels, this move mainly changes how obligations are administered and ultimately settled, rather than reducing obligations. Actual required contributions will depend on settlement timing and market conditions, so cash-flow effects will be driven by implementation details disclosed in future updates.

8-K Event Classification

Item 1.02 — Termination of a Material Definitive Agreement

1 item

Item 1.02 Termination of a Material Definitive Agreement Business

A significant contract was terminated, which may affect business operations or revenue.

Key Figures

Board authorization date: June 22, 2026 Plan termination effective date: August 31, 2026 Impacted participants: Approximately 400 participants +1 more

4 metrics

Board authorization date June 22, 2026 Date Board approved termination of pension plan

Plan termination effective date August 31, 2026 Scheduled effective date for Weyco pension plan termination

Impacted participants Approximately 400 participants Employees and former employees whose earned benefits are unchanged

Plan funding status Overfunded as of December 31, 2025 Basis for not expecting additional cash contributions on termination

Key Terms

Material Definitive Agreement, Pension Benefit Guaranty Corporation, overfunded status, standard termination procedures

4 terms

Material Definitive Agreement regulatory

"Item 1.02 Termination of a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Pension Benefit Guaranty Corporation regulatory

"subject to review by the Pension Benefit Guaranty Corporation under its standard termination procedures."

overfunded status financial

"given its overfunded status as of December 31, 2025."

standard termination procedures regulatory

"under its standard termination procedures."

FAQ

What did Weyco Group (WEYS) announce regarding its pension plan?

Weyco Group’s Board authorized terminating the Weyco Group, Inc. Pension Plan and its related Pension Trust, effective August 31, 2026, subject to Pension Benefit Guaranty Corporation review. This affects about 400 participants but does not change the pension benefits they have already earned under the plan.

Will Weyco Group (WEYS) make additional cash contributions to the pension plan at termination?

Weyco Group does not expect to make additional cash contributions when the pension plan is terminated. The company cites the plan’s overfunded status as of December 31, 2025, while noting actual contributions will depend on settlement timing, participant elections, and prevailing market conditions.

Are pension benefits for Weyco Group (WEYS) participants reduced by this plan termination?

The company states there is no change in the benefits earned by approximately 400 impacted participants. The termination applies to former employees and active employees who no longer accrue new benefits, but their already-earned pension amounts remain the same under this action.

Who is affected by the Weyco Group (WEYS) pension plan termination?

The termination applies to participants who have separated from Weyco Group and active employees who participated in the pension plan but no longer earn additional pension credits. In total, about 400 participants are impacted, while their previously earned pension benefits are unchanged.

Can Weyco Group (WEYS) change or revoke its pension plan termination decision?

By law, Weyco Group can change the effective date of the pension plan termination or revoke its decision entirely. The company notes it has no intent to change or revoke the termination decision at this time, but the legal right to do so remains.

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Understanding 8-K Material Events →

Available on EDGAR 06/24/2026 - 01:10 PM Accepted by SEC EDGAR 06/24/2026 - 01:09 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 22, 2026

WEYCO GROUP, INC.

(Exact name of registrant as specified in its charter)

Wisconsin

0-9068

39-0702200

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

333 W. Estabrook Blvd.

Glendale, WI

53212

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (414) 908-1600

(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 240.13a-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol	Name of each exchange on which registered
Common Stock - $1.00 par value per share	WEYS	The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

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 1.02 Termination of a Material Definitive Agreement.

On June 22, 2026, the Board of Directors (“Board”) of Weyco Group, Inc. (“Company”) authorized the termination of the Weyco Group, Inc. Pension Plan, as amended and restated (the “Plan”), effective as of August 31, 2026, subject to review by the Pension Benefit Guaranty Corporation under its standard termination procedures. The Board also approved the termination of the Weyco Group, Inc. Pension Trust in connection with the termination of the Plan. The Board also authorized the Company’s officers to take certain actions in connection with the termination of the Plan, including, without limitation, to:

•

Making such applications, notices or reports as may be necessary or appropriate and filing the same with the Internal Revenue Service, the Pension Benefit Guaranty Corporation or other appropriate governmental agency, including a determination letter request with the Internal Revenue Service regarding the continued tax-qualified status of the Plan at the time of termination,

•

Giving any and all notices that may be necessary to terminate the Plan,

•

Satisfying the liabilities of the Plan by making final payments to the participants in either lump sums or through the purchase of a group annuity contract in accordance with the Plan’s termination provisions,

•

Make any necessary changes to the Plan or the language therefore as may be required to secure an appropriate determination that the Plan complies with Internal Revenue Code of 1986, as amended, and Employee Retirement Income Security Act of 1974, as amended, and any rules and regulations thereunder, and

•

Take any and all actions it deems necessary or appropriate to manage, reposition, de-risk, liquidate, transfer, or otherwise direct assets of the Plan and related Trust in preparation for and in connection with the termination of the Plan

The Company does not expect to make additional cash contributions to the Plan upon termination, given its overfunded status as of December 31, 2025. However, the actual required contributions will depend on the nature and timing of participant settlements, as well as prevailing market conditions.

The termination of the Plan will apply to participants who have separated from service with the Company and to active employees who participated in the Plan and no longer accrue pension benefits. There is no change in the benefit earned by the approximately 400 impacted participants as a result of these actions.

By law, the Company has the right to change the effective date of the Plan termination or to revoke its decision to terminate the Plan, but it has no intent to do so at this time.

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.


Date: June 24, 2026	WEYCO GROUP, INC.

	/s/ Judy Anderson
	Judy Anderson
	Vice President, Chief Financial Officer and Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

4 documents

Weyco Group (NASDAQ: WEYS) moves to terminate overfunded pension plan

Rhea-AI Filing Summary

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