The company said Nicholas J. Lundquist, a director, informed it on January 16, 2025 that he will not stand for re-election and tendered his notice of ineligibility, effective the same day. The company said his decision was not the result of any disagreement over operations, policies or practices.

1. 01

   The company said Nicholas J. Lundquist, a director, informed it on January 16, 2025 that he will not stand for re-election and tendered his notice of ineligibility, effective the same day. The company said his decision was not the result of any disagreement over operations, policies or practices.

2. 02

   The company said Mr. Lundquist is not eligible to continue serving on the Board under its Corporate Governance Guidelines. The guidelines impose a five-year term limit on former employees of the company.

3. 03

   Fastenal said its Board elected Brady D. Ericson as a director on January 16, 2025, effective the same day. The Board remains at eleven members. Ericson will serve as an independent director until the next annual shareholder meeting, and he was also appointed to the Audit Committee.

4. 04

   Fastenal said Ericson has served as President and Chief Executive Officer of PHINIA Inc. since July 2023. His compensation will be a cash payment under the existing director pay policy, covering a pro rata share of the annual retainer for his partial year and a pro rata share of an equity award tied to attending the remaining calendar-year Board meetings.

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Original filing

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