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Get filing alertsMPAA extends CEO employment through 2029 with 9% annual salary increases
Filed July 2, 2026 · Period ending June 26, 2026 · ~1 min read
Key Changes
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CEO Selwyn Joffe's employment agreement extended two years to July 1, 2029 (previously July 1, 2027), providing executive continuity through mid-2029.
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR → -
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CEO salary increases 9.0% to $902,799 effective June 26, 2026, then another 9.0% to $984,050 effective April 1, 2027 (from current $828,256).
Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
Summary
Motorcar Parts of America extended CEO Selwyn Joffe's employment agreement by two years to July 2029 and approved consecutive 9% annual salary increases. The first raise takes his compensation from $828,256 to $902,799 immediately, with a second increase to $984,050 in April 2027. The extension locks in executive leadership continuity for three more years.
For retail holders, the dual salary increases totaling 18.8% over ten months represent meaningful compensation growth. The board framed the raises as part of a routine salary review under the existing employment agreement. The extension itself signals board confidence in current management, though investors should weigh the compensation trajectory against the company's operating performance and peer benchmarks when evaluating executive pay alignment.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 3, 2026 · How we verify