<SEC-DOCUMENT>0001140361-19-003386.txt : 20190215
<SEC-HEADER>0001140361-19-003386.hdr.sgml : 20190215
<ACCEPTANCE-DATETIME>20190215171354
ACCESSION NUMBER:		0001140361-19-003386
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190212
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20190215
DATE AS OF CHANGE:		20190215

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP
		CENTRAL INDEX KEY:			0000943452
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROAD EQUIPMENT [3743]
		IRS NUMBER:				251615902
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-90866
		FILM NUMBER:		19612434

	BUSINESS ADDRESS:	
		STREET 1:		1001 AIR BRAKE AVE
		CITY:			WILMERDING
		STATE:			PA
		ZIP:			15148
		BUSINESS PHONE:		4128251000

	MAIL ADDRESS:	
		STREET 1:		1001 AIR BRAKE AVE
		CITY:			WILMERDING
		STATE:			PA
		ZIP:			15148

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WABTEC CORP
		DATE OF NAME CHANGE:	20000114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WESTINGHOUSE AIR BRAKE CO /DE/
		DATE OF NAME CHANGE:	19950404
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s002675x1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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  <div style="text-align: center; font-size: 14pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</font></div>
  <div style="text-align: center; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Washington, D.C. 20549</font></div>
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    </font></div>
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  <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
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  <div style="text-align: center; font-size: 18pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">FORM 8-K</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> </font>
    <hr style="height: 2px; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CURRENT REPORT</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">PURSUANT TO SECTION 13 OR 15(D)</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Date of Report (Date of Earliest Event Reported):&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times,
        serif;">February 15, 2019 (February 12, 2019)</font></font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
      </font></font></div>
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      </font></font></div>
  <div style="text-align: center; font-size: 24pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">WESTINGHOUSE AIR BRAKE</font></div>
  <div style="text-align: center; font-size: 24pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">TECHNOLOGIES CORPORATION</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Exact Name of Registrant as Specified in Its Charter)</font></div>
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    </font></div>
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    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Delaware</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(State or other Jurisdiction</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">of Incorporation)</font></div>
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            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">033-90866</div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">25-1615902</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Commission</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">File No.)</font></div>
          </td>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(I.R.S. Employer</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Identification No.)</font></div>
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          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">1001 Air Brake Avenue</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Wilmerding, Pennsylvania</font></div>
          </td>
          <td style="width: 50%; vertical-align: bottom;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">15148</font></div>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Address of Principal Executive Offices)</font></div>
          </td>
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            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Zip Code)</font></div>
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  <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(412) 825-1000</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Registrant&#8217;s Telephone Number, Including Area Code)</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Not Applicable</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Former Name or Former Address, if Changed Since Last Report.)</font></div>
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    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> </font>
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    </font></div>
  <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
      registrant under any of the following provisions (see General Instruction A.2. below):</font></div>
  <div style="text-align: left; text-indent: 24.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
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        <td style="width: 4.16%; vertical-align: top;">&#9744;</td>
        <td style="width: 95.84%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
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        <td style="width: 4.16%; vertical-align: top;">&#9744;</td>
        <td style="width: 95.84%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
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        <td style="width: 4.16%; vertical-align: top;">&#9744;</td>
        <td style="width: 95.84%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
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        <td style="width: 4.16%; vertical-align: top;">&#9744;</td>
        <td style="width: 95.84%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
        </td>
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  <div style="text-align: left; text-indent: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
  <div style="text-align: left; text-indent: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
      1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</font></div>
  <div><br>
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    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Emerging Growth Company</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160; </font>&#9744;</div>
  </div>
  <br>
  <div style="text-align: left; text-indent: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
      for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160; <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#9744;</font></font>
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            <td style="width: 58.5pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 5.02</font></td>
            <td style="width: auto; vertical-align: top; text-align: left;">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
                  Officers.</font></div>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">St&#233;phane Rambaud-Measson resigned as Executive Vice President and Chief Operating Officer of Westinghouse Air Brake Technologies Corporation
      (&#8220;Wabtec&#8221;) in order to pursue other interests. He also resigned from the Wabtec Board of Directors. The resignations are effective February 12, 2019 (the &#8220;Separation Date&#8221;).</font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On February 13, 2019, Mr. Rambaud-Measson and Wabtec entered into a Separation Agreement (the &#8220;Separation Agreement&#8221;) in connection with his
      resignation, effective as of the Separation Date. The Separation Agreement provides Mr. Rambaud-Measson with additional benefits greater than what he would otherwise be entitled to receive in connection with the end of his employment as consideration
      for his agreement to comply with certain restrictive covenants. Pursuant to the terms of the Separation Agreement, Wabtec will provide Mr. Rambaud-Measson the following:</font></div>
  <div><br>
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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a lump-sum cash payment of $3,600,000 to satisfy severance requirements;</font></div>
          </td>
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  </div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zc538c4f4ed844c0f8f497459bed01a04" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">eligibility to receive a pro-rated annual bonus for calendar year 2019 based on the number of days worked from January 1, 2019 through
                the Separation Date and Wabtec&#8217;s actual performance;</font></div>
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  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="z2888c76a641e434f9b6cedffac23a81d" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">eligibility to receive a pro-rated award related to the performance units previously granted to Mr. Rambaud-Measson based on Wabtec&#8217;s
                actual performance during the applicable performance period;</font></div>
          </td>
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  </div>
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    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zb027c01313b14142bc7b1e4921ce558a" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a lump-sum cash amount equal to the fair market value as of May 1, 2019 of 35,183 restricted stock units previously granted to Mr.
                Rambaud-Measson under Wabtec&#8217;s 2011 Stock Incentive Plan;</font></div>
          </td>
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  </div>
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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">tax planning advice and tax return preparation services from Deloitte for calendar years 2018, 2019 and 2020;</font></div>
          </td>
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  </div>
  <div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="zb72c988a42094136a01da0ea78736482" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">reimbursement for relocation expenses in connection with Mr. Rambaud-Measson&#8217;s relocation to Germany and other related reimbursements;
                and</font></div>
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  </div>
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    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" class="DSPFListTable" id="za16512be261d443eaa9bece73618d85a" cellpadding="0" cellspacing="0">

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          <td style="width: 36pt; vertical-align: top; text-align: center;"><font style="font-family: Times New Roman;">&#9679;</font></td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">a lump-sum cash payment of 270,000 Euros to satisfy certain French pension and unemployment insurance requirements.</font></div>
          </td>
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  </div>
  <div><br>
  </div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mr. Rambaud-Measson also has the right to sell certain de minimis subsidiary stock to Wabtec for a specified amount. In addition to the Separation
      Agreement, Wabtec and Mr. Rambaud-Measson entered into a Consulting Agreement, dated as of February 12, 2019 (the &#8220;Consulting Agreement&#8221;), pursuant to which Mr. Rambaud-Measson will receive a fee of $16,500 per month for providing consulting services
      to Wabtec through February 11, 2020 and be obligated to comply with certain non-competition, non-solicitation and other restrictive covenants during the same term.</font></div>
  <div><br>
  </div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The payments listed above to which Mr. Rambaud-Measson is entitled are in full satisfaction of all payment obligations of Wabtec and certain of
      its subsidiaries.&#160; In connection with the Separation Agreement, Mr. Rambaud-Measson and Wabtec agreed to mutual non-disparagement obligations and executed a mutual release of claims relating to his employment, subject to certain exceptions to
      Wabtec&#8217;s release as specified in the Separation Agreement.</font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The foregoing description of the Separation Agreement is qualified in its entirety by reference to the Separation Agreement, including as exhibits
      thereto the release of claims, a list of Mr. Rambaud-Measson&#8217;s severance benefits and the Consulting Agreement, a copy of which will be filed as an exhibit to Wabtec&#8217;s Quarterly Report on Form 10-Q for the quarter ending March 31, 2019.</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURE</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">WESTINGHOUSE AIR BRAKE</font></div>
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">TECHNOLOGIES CORPORATION</font></div>
        </td>
      </tr>
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        <td style="width: 5%; vertical-align: middle;">&#160;</td>
        <td rowspan="1" style="width: 45%; vertical-align: middle;">&#160;&#160;</td>
      </tr>
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        <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By:</font></div>
        </td>
        <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ David L. DeNinno</font></div>
        </td>
      </tr>
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        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td style="width: 5%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
        </td>
        <td style="width: 45%; vertical-align: bottom;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">David L. DeNinno</font></div>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; vertical-align: top;">&#160;</td>
        <td style="width: 5%; vertical-align: top;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
        </td>
        <td style="width: 45%; vertical-align: bottom;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Executive Vice President, General Counsel and Secretary</font></div>
        </td>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Date: February 15, 2019</font></div>
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