Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Effective January 1, 2023, American Axle & Manufacturing Holdings, Inc. ("AAM" or the "Company") appointed Christopher J. May, age 53, Executive Vice President & Chief Financial Officer, as approved by the Executive Committee of the Board of Directors on December 29, 2022. Prior to such appointment, Mr. May was Vice President & Chief Financial Officer. For additional information regarding Mr. May, including his biography, see Item 1 in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission on February 11, 2022 and is incorporated herein by reference.

On December 29, 2022, the Compensation Committee of the Board of Directors approved adjustments to Mr. May's compensation to align with his position as Executive Vice President & Chief Financial Officer of the Company. Effective January 1, 2023, Mr. May's base salary was increased to $675,000 with an annual target bonus opportunity of 100% of base salary and an annual target long-term incentive opportunity of 250% of base salary. Other than as described herein, Mr. May's compensation and benefits are materially consistent with the description in the Company's Definitive Proxy Statement on Schedule 14A, which was filed with the Securities and Exchange Commission on March 24, 2022.

There are no existing relationships between Mr. May and any person that would require disclosure pursuant to Item 404(a) of Regulation S-K or any familial relationships that would require disclosure under Item 401(d) of Regulation S-K.

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