LCI Industries filed a current report on Form 8-K on November 13, 2026, disclosing a transaction bonus agreement awarding Chief Financial Officer Lillian D. Etzkorn a cash transaction and retention bonus of $486,675 in connection with the company's pending merger with Patrick Industries, Inc.

Key Highlights

  • Bonus amount: Lillian D. Etzkorn, Executive Vice President and Chief Financial Officer, is eligible to receive a total 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 if the merger does not close), and 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.
  • Issuing entity: The agreement was entered into by Lippert Components, Inc., a wholly owned subsidiary of LCI Industries, not by LCI Industries directly.
  • Termination provision: If Ms. Etzkorn's employment is terminated without cause or for good reason before the final vesting date, Lippert, in its sole discretion, may elect to pay the full retention bonus within 60 days of termination, subject to conditions including execution of a release of claims.
  • Merger background: The underlying merger agreement with Patrick Industries was entered into on June 30, 2026, with the definitive joint proxy statement/prospectus mailed to stockholders on or about October 19, 2026.

LCI Industries Discloses CFO Retention Agreement Tied to Patrick Industries Merger

LCI Industries (NYSE:LCII), based in Elkhart, Indiana, disclosed on November 13, 2026 that its wholly owned subsidiary, Lippert Components, Inc., entered into a transaction bonus agreement with Lillian D. Etzkorn, the company's Executive Vice President and Chief Financial Officer. According to the filing, the agreement was entered into "in recognition of her efforts in connection with the Merger" with Patrick Industries, Inc.

The filing states that the total bonus of $486,675 is structured in two tranches. The first tranche, representing 40% of the total, vests on the date the merger closes or, if the merger agreement is terminated, upon that termination. The remaining 60%, described in the filing as the "Retention Bonus," vests six months after the closing date, which the filing calls the "Final Vesting Date." Each tranche is payable within five days of the applicable vesting date. Ms. Etzkorn's receipt of the bonus is conditioned on her continued compliance with certain restrictive covenants and continued employment or service with Lippert or its subsidiaries or affiliates through the applicable vesting date.

The filing also details a discretionary termination provision: if Ms. Etzkorn's employment 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 that termination, subject to her compliance with restrictive covenants and timely execution and non-revocation of a release of claims. The filing notes that the description of the agreement is "only a summary" and is qualified in its entirety by the full text filed as Exhibit 10.1.

What Was Disclosed

LCI Industries reported a transaction bonus agreement between its subsidiary Lippert Components, Inc. and CFO Lillian D. Etzkorn, providing a $486,675 cash bonus tied to the pending merger with Patrick Industries, with vesting split between the closing date and six months after closing.