Management Change/Compensation - Form 8-K

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 11, 2022 (August 8, 2022)

HOLLEY INC.

(Exact name of registrant as specified in its charter)

(270) 782-2900

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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

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. ☐

On August 11, 2022, Holley Inc. (the "Company") announced that the Company's Chief Financial Officer, Dominic Bardos, has resigned, effective September 30, 2022 ("Separation Date"), to pursue another opportunity and for personal reasons. Mr. Bardos will remain in his current position to assist with the transition of his responsibilities until the Separation Date. Mr. Bardos's decision to resign from the Company was not the result of any disagreement relating to the Company's strategy, operations, policies, or practices.

The Company has begun a search for its next Chief Financial Officer and has retained the executive search firm Crist|Kolder Associates to assist with the process. Stephen Trussell, the Company's current Vice President of Finance, will serve as interim Chief Financial Officer, effective upon Mr. Bardos's departure. During the period when Mr. Trussell is serving as interim Chief Financial Officer, his annual base salary will be increased to $346,000.

Mr. Trussell, (54), has been with Holley since 2003. He currently serves as Vice President of Finance, and previously served as Corporate Controller for Holley Intermediate. He has over 30 years of accounting experience across multiple industries, including retail, restaurant, manufacturing, and financial services. Prior to joining Holley, he was a senior manager at KPMG, where he spent 12 years with KPMG in its audit group. Mr. Trussell earned a Bachelor's degree in Accounting from Virginia Tech University.

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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.