8-K: NN, Inc. General Counsel Jami Statham to Step Down

NN, Inc. announced that Senior Vice President, General Counsel and Corporate Secretary Jami A. Statham will depart the company effective July 9, 2026.

Summary

• Jami A. Statham will step down as Senior Vice President, General Counsel and Corporate Secretary of NN, Inc. on July 9, 2026.
• The departure is amicable and not the result of any disagreement regarding company operations, policies, or practices.
• Statham will continue her duties through the transition date to assist in the handover.
• The company will engage an external search firm to identify a successor.
• Statham is eligible for a pro-rated portion of her 2026 annual target bonus of $175,000, contingent upon a release of claims.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event; it is a standard executive transition that does not signal underlying operational distress or strategic shifts.

Positives

• The transition is described as amicable with no reported disagreements.
• A clear transition period is established to ensure continuity of legal and corporate secretarial functions.
• The company has a structured plan to identify a successor via an external search firm.

Negatives

• Loss of a key executive in the legal and corporate governance function.
• Potential for temporary disruption or increased administrative burden during the search for a replacement.

Risks

• Potential for a gap in leadership if a successor is not identified and onboarded by the transition date.
• Costs associated with retaining an external search firm to fill the executive vacancy.

Future Outlook

The company intends to retain an external search firm to identify a new Senior Vice President, General Counsel and Corporate Secretary.

Management Comments

• Ms. Statham's decision was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Industry Context

StockSavvy.ai notes that executive turnover in legal and compliance roles is common, but the departure of a General Counsel often triggers heightened scrutiny regarding corporate governance and internal controls during the transition period.

Comparison to Industry Standards

• The use of a formal transition agreement and pro-rated bonus structure is consistent with standard executive separation practices in the U.S. manufacturing and industrial sectors.
• The engagement of an external search firm for C-suite or SVP-level legal roles is standard practice for publicly traded companies of this size.

Management Changes

Corporate Governance

Legal Proceedings

• None disclosed.

Related Party Transactions

• None disclosed.

Stakeholder Impact

• Shareholders: Minimal impact expected as the departure is amicable and planned.
• Employees: Potential for internal restructuring within the legal department.

Next Steps

• Retention of an external search firm.
• Transition of duties from Jami A. Statham to a successor.
• Finalization of the transition period on July 9, 2026.

Key Dates

Keywords

NN, Inc., NNBR, General Counsel, Executive Departure, Corporate Governance, Management Transition