false 0000876427 0000876427 2025-02-05 2025-02-05

 

 

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): February 5, 2025

 

 

MONRO, INC.

(Exact name of registrant as specified in its charter)

 

 

 

New York   0-19357   16-0838627

(State of

Incorporation)

  

(Commission

File Number)

  

(I.R.S. Employer

Identification No.)

 

295 Woodcliff Drive, Suite 202, Fairport, New York   14450
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s telephone number, including area code 1 (800) 876-6676

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 (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 240.14a-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 $.01 per share   MNRO   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 (§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 February 5, 2025, the Board of Directors (“Board”) of Monro, Inc. (the “Company”) appointed Nick Hawryschuk to serve as the Senior Vice President – Operations (“SVP - Operations”) of the Company effective as of February 5, 2025. Prior to his appointment as SVP - Operations, Mr. Hawryschuk, age 42, served as the Company’s Vice President – Finance and Operations since March 2024 and Vice President - Finance from August 2020 to March 2024. From 2016 to 2020, Mr. Hawryschuk was the Senior Director of Global Business Service Finance and Controller of Global Finance Shared Services at Xylem Inc., a global manufacturer of water technology.

As SVP - Operations, Mr. Hawryschuk (i) will be paid an annual base salary of $350,000; (ii) will be eligible to earn a bonus, pursuant to the terms of the Company’s annual incentive plan, of up to 60% of his base salary, upon the achievement of certain corporate objectives during each fiscal year determined by the Compensation Committee of the Board; (iii) will be eligible for a target long-term equity incentive award opportunity with a target value of $450,000 on the basis of performance targets as determined by the Compensation Committee of the Board; and (iv) will participate in the Company’s other incentive and welfare and benefit plans made available to executives.

There is no arrangement or understanding between Mr. Hawryschuk and any other person with respect to his appointment, and there are no family relationships between Mr. Hawryschuk and any director or executive officer of the Company. Neither Mr. Hawryschuk nor any of his immediate family members have been a party to any transaction with the Company, nor is any such transaction currently proposed, that would be reportable under Item 404(a) of Regulation S-K.

 

Item 7.01

Regulation FD Disclosure.

On February 10, 2025, the Company issued a press release announcing the appointment of Mr. Hawryschuk as SVP - Operations. A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished as part of this Report:

 

Exhibit
Number		    Description
99.1    Press Release, dated February 10, 2025
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    MONRO, INC.
    (Registrant)
February 10, 2025     By:  

/s/ Maureen E. Mulholland

      Maureen E. Mulholland
      Executive Vice President – Chief Legal Officer and Secretary

Exhibit 99.1

 

LOGO     
  

 

295 Woodcliff Drive, Suite 202, Fairport, NY 14450

 

CONTACT:    Investors and Media: Felix Veksler
   Senior Director, Investor Relations
   ir@monro.com

FOR IMMEDIATE RELEASE

Monro Announces Promotion of Nick Hawryschuk to Senior Vice President - Operations

FAIRPORT, NY – February 10, 2025 – Monro, Inc. (Nasdaq: MNRO) (“Monro”), one of the largest independent auto service and tire dealers in the United States, announces that Nick Hawryschuk has been promoted to Senior Vice President – Operations from his role as Vice President - Finance and Operations. His promotion is effective immediately.

Hawryschuk will lead all aspects of the Company’s retail and commercial operations in his new role. He will be responsible for developing and executing Monro’s strategy and implementation plan to further strategic goals. Hawryschuk will report to Mike Broderick, President and Chief Executive Officer.

“Nick’s proven experience in finance and operations has been vital to Monro. I’m confident that we will continue to drive critical operational improvements and expand the capabilities of our organization under his leadership,” said Broderick.

Hawryschuk joined Monro as Vice President - Finance in 2020 and was promoted to Vice President - Finance and Operations Support in 2022. His role was expanded when he was appointed Vice President - Finance and Operations in 2024, overseeing the Finance and Loss Prevention organizations and leading the Company’s Operations Support Team. He also extended his scope to lead and grow Monro’s Fleet and Strategic Accounts business and the Company’s Global Call Center.

Prior to Monro, Hawryschuk held progressive roles of responsibility at Xylem Inc., a global water technology manufacturer, from Controller of Global Finance Shared Services to Senior Director of Global Business Service Finance. While there, he spearheaded a global finance transformation. Before Xylem, he held various executive leadership roles in Finance and Operations at Carestream Health, Inc., gaining valuable experience assessing business needs and implementing strategies and processes to lead high-performing teams.

“I’m very excited to step up into my new role as we continue to transform Monro. I look forward to leveraging my years of operational expertise to build upon the organization’s strong foundation and contribute to the Company’s future success,” said Hawryschuk.

About Monro, Inc.

Monro, Inc. (NASDAQ: MNRO) is one of the nation’s leading automotive service and tire providers, delivering best-in-class auto care to communities across the country, from oil changes, tires, and parts installation to the most complex vehicle repairs. With a growing market share and a focus on sustainable growth, the company generated almost $1.3 billion in sales in fiscal 2024, and it continues to expand its national presence through strategic acquisitions and the opening of newly constructed stores. Across more than 1,250 stores and 8,500 service bays nationwide, Monro brings customers the professionalism and high-quality service they expect from a national retailer, with the convenience and trust of a neighborhood garage. Monro’s highly trained teammates and certified technicians bring together hands-on experience and state-of-the-art technology to diagnose and address automotive needs every day to get customers back on the road safely. For more information, please visit corporate.monro.com/.

Source: Monro, Inc.

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Entity Registrant Name MONRO, INC.
Entity Incorporation State Country Code NY
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Entity Tax Identification Number 16-0838627
Entity Address, Address Line One 295 Woodcliff Drive
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