Apogee Enterprises has extended Chief Executive Officer and Executive Chair Donald A. Nolan’s employment for six months, through April 30, 2027, while its board continues searching for a permanent CEO. The arrangement is intended to maintain leadership continuity during the transition.
Nolan will remain CEO until the permanent successor begins work. He will then step down as CEO but stay on as an employee and Executive Chair through the end of the extended term, helping with the new CEO’s transition and onboarding. The incoming CEO will have responsibility and authority for managing Apogee’s business and operations.
Key details
- Pay: Nolan will continue to receive an annualized base salary of $925,000, prorated for the extension. His salary continues through April 30 even after he moves from CEO to Executive Chair.
- Transition bonus: He is eligible for a one-time cash bonus of up to $250,000. The compensation committee will determine the amount based on his performance in supporting a successful transition to a permanent CEO.
- Travel payment: He will receive a one-time cash payment of $25,000 for travel and lodging expenses.
- Restricted stock units: While he continues serving as CEO during the extension, Nolan is eligible for monthly grants of time-based restricted stock units, each with a target grant-date value of $145,834. The awards are prorated for the period he remains CEO. Each grant is scheduled to vest one year after its grant date, subject to applicable conditions.
- Existing awards: Previously granted restricted stock units remain eligible to vest, subject to the applicable continued-service conditions.
- Term: The extension runs from November 1, 2026, through April 30, 2027, unless ended earlier under the existing employment terms or extended further by mutual written agreement and board approval.
What changes: Nolan’s CEO role ends when his permanent successor starts, but his employment, salary and Executive Chair role continue for the rest of the extension. The arrangement gives the successor operational authority while Nolan supports the handoff.