LCI Industries filed a Form 8-K on November 13, 2026, disclosing that Lippert Components, Inc., its wholly owned subsidiary, entered into a transaction bonus agreement with Chief Financial Officer Lillian D. Etzkorn tied to the company's pending merger with Patrick Industries, Inc.

Key Highlights

  • Total bonus amount: Lillian D. Etzkorn, Executive Vice President and CFO, is eligible to receive a cash transaction and retention bonus of $486,675.
  • Vesting schedule: 40% of the bonus vests on the merger closing date (or upon termination of the Merger Agreement), and the remaining 60% vests six months after the closing date.
  • Payment timing: Each portion is payable within five days following the applicable vesting date, according to the filing.
  • Counterparty: The agreement was entered into by Lippert Components, Inc., a wholly owned subsidiary of LCI Industries, not by LCI Industries directly.
  • Merger context: The bonus was granted "in recognition of her efforts in connection with the Merger," as stated in the filing.
  • Termination provision: If Etzkorn is terminated without cause or for good reason before the final vesting date, Lippert, "in its sole discretion, may elect to provide Ms. Etzkorn with the full amount of the Retention Bonus," payable within 60 days of termination.

LCI Industries Discloses CFO Compensation Tied to Patrick Industries Merger

LCI Industries (NYSE:LCII), a Delaware corporation headquartered in Elkhart, Indiana, disclosed on November 13, 2026 that its subsidiary Lippert Components, Inc. executed a transaction bonus agreement with Lillian D. Etzkorn, the company's Executive Vice President and Chief Financial Officer. LCI Industries, which operates through its Lippert subsidiary, supplies a range of components and systems primarily to recreational vehicle and adjacent industries. The company entered into an Agreement and Plan of Merger with Patrick Industries, Inc. on June 30, 2026, under which the company would ultimately become a direct wholly owned subsidiary of Patrick following a two-step merger process.

According to the filing, the $486,675 bonus is structured in two tranches. The first tranche, equal to 40% of the total, vests upon the closing of the merger or, if the Merger Agreement is terminated, upon that termination. The second tranche, representing 60% of the total and designated as the "Retention Bonus," vests six months after the closing date, provided the merger is completed. The filing states that receipt of the bonus is conditioned on Etzkorn's continued compliance with certain restrictive covenants and continued employment or service with Lippert or its subsidiaries or affiliates through each applicable vesting date.

The filing further notes that if Etzkorn's employment is terminated without cause or for good reason prior to the final vesting date, and subject to her compliance with restrictive covenants and timely execution of a release of claims, Lippert retains sole discretion to pay her the full remaining Retention Bonus within 60 days of that termination. The registration statement related to the broader merger transaction was declared effective by the SEC on October 19, 2026, and the definitive joint proxy statement/prospectus was mailed to stockholders on or about that same date.

What Was Disclosed

LCI Industries reported through an 8-K filing that Lippert Components, Inc. entered into a $486,675 transaction and retention bonus agreement with CFO Lillian D. Etzkorn on November 13, 2026, in connection with the company's pending merger with Patrick Industries, Inc.