Ascent Industries Co. Announces Board Changes and Officer Compensation
Ticker: ACNT · Form: 8-K · Filed: Jun 14, 2024 · CIK: 95953
| Field | Detail |
|---|---|
| Company | Ascent Industries CO. (ACNT) |
| Form Type | 8-K |
| Filed Date | Jun 14, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Ascent Industries Co. swapped out a director and brought in new ones, plus talked exec pay.
AI Summary
Ascent Industries Co. announced on June 11, 2024, the departure of director John P. Nelson and the appointment of new directors, including Michael J. D'Amato, David L. Johnson, and Robert L. Smith. The company also reported on compensatory arrangements for certain officers and submitted matters to a vote of security holders.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance matters such as director changes and compensation, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- Ascent Industries Co. (company) — Registrant
- John P. Nelson (person) — Departing Director
- Michael J. D'Amato (person) — Appointed Director
- David L. Johnson (person) — Appointed Director
- Robert L. Smith (person) — Appointed Director
- June 11, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from the Ascent Industries Co. board of directors?
John P. Nelson has departed from the Ascent Industries Co. board of directors as of June 11, 2024.
Who are the newly appointed directors at Ascent Industries Co.?
Michael J. D'Amato, David L. Johnson, and Robert L. Smith have been appointed as new directors.
What other items are reported in this 8-K filing?
The filing also reports on compensatory arrangements of certain officers and the submission of matters to a vote of security holders.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on June 11, 2024.
What is the principal executive office address for Ascent Industries Co.?
The principal executive offices are located at 1400 16th Street, Suite 270, Oak Brook, Illinois 60523.
Filing Stats: 668 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2024-06-14 16:07:48
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 per share ACNT NASDAQ Global Market I
Filing Documents
- acnt-20240611.htm (8-K) — 37KB
- acnt-20240611_g1.jpg (GRAPHIC) — 11KB
- 0000095953-24-000044.txt ( ) — 180KB
- acnt-20240611.xsd (EX-101.SCH) — 2KB
- acnt-20240611_lab.xml (EX-101.LAB) — 22KB
- acnt-20240611_pre.xml (EX-101.PRE) — 13KB
- acnt-20240611_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders The Annual Meeting of Shareholders (the "Annual Meeting") of Ascent Industries Co. (the "Company") was held as a virtual meeting on Tuesday, June 12, 2024. For more information on the proposals submitted to shareholders at the Annual Meeting, see the Company's definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 30, 2023. Set forth below are the final voting results for each of the proposals submitted to the Company's shareholders at the Annual Meeting. Proposal 1: Election of Directors Name Votes For Votes Against Abstain Henry L. Guy 6,030,146 1,218,012 6,777 Christopher G. Hutter 6,247,105 1,001,293 6,537 Aldo J. Mazzaferro 5,901,390 1,346,783 6,762 Benjamin Rosenzweig 6,961,957 286,441 6,537 John P. Schauerman 5,999,892 1,248,506 6,537 Proposal 2: Advisory approval of Ascent Industries Co.'s named executive officer compensation for fiscal 2023 Votes For Votes Against Abstain 6,412,672 828,764 13,499 Proposal 3: Advisory approval on the frequency of future say-on-pay votes (say-on-frequency) 1 Year 2 Year 3 Year Abstain 6,734,232 2,168 457,551 60,984 Proposal 4: Ratification of the appointment of Moss Adams LLP as Ascent Industries Co.'s independent registered public accounting firm for the fiscal year ending December 31, 2024 Votes For Votes Against Abstain 8,784,941 273,167 7,256
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf by the undersigned hereunto duly authorized. ASCENT INDUSTRIES CO. Dated: June 14, 2024 By: /s/ Ryan Kavalauskas Ryan Kavalauskas Chief Financial Officer