AstroNova Appoints New CFO, Grants Stock Options

TL;DR

AstroNova names new CFO, Michael Johnson, starting Aug 12th. Gets $275k salary + stock options.

AI Summary

AstroNova, Inc. announced on August 5, 2024, the appointment of Michael J. Johnson as Chief Financial Officer, effective August 12, 2024. Johnson will receive an annual base salary of $275,000 and will be eligible for an annual bonus. He will also be granted stock options to purchase 100,000 shares of AstroNova common stock.

Why It Matters

The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key financial leadership can introduce uncertainty regarding future financial strategy and performance.

Key Numbers

• $275,000 — CFO Annual Salary (New CFO Michael Johnson's base compensation.)
• 100,000 — Stock Options (Granted to the new CFO as part of his compensation package.)

Key Players & Entities

• AstroNova, Inc. (company) — Registrant
• Michael J. Johnson (person) — Appointed Chief Financial Officer
• $275,000 (dollar_amount) — Annual base salary for new CFO
• 100,000 (dollar_amount) — Number of stock options granted to new CFO
• August 5, 2024 (date) — Date of report and announcement
• August 12, 2024 (date) — Effective date for new CFO

FAQ

Key Financial Figures

• $0.05 — nge on which Registered Common Stock, $0.05 Par Value ALOT NASDAQ Global Market
• $633.20 — any will pay to Mr. Smith the amount of $633.20 per month, monthly in arrears, from Aug

Filing Documents

• d527161d8k.htm (8-K) — 25KB
• d527161dex101.htm (EX-10.1) — 5KB
• 0001193125-24-197022.txt ( ) — 147KB
• alot-20240805.xsd (EX-101.SCH) — 3KB
• alot-20240805_lab.xml (EX-101.LAB) — 17KB
• alot-20240805_pre.xml (EX-101.PRE) — 11KB
• d527161d8k_htm.xml (XML) — 3KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of report (Date of earliest event reported): August 5, 2024 ASTRONOVA, INC. (Exact name of registrant as specified in its charter) Rhode Island 0-13200 05-0318215 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 600 East Greenwich Avenue West Warwick , RI 02893 (Address of principal executive offices) (Zip Code) (401) 828-4000 Registrant's telephone number, including area code Not applicable (Former name or former address, if changed since last report.) 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): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class Trading Symbol(s) Name of Each Exchange on which Registered Common Stock, $0.05 Par Value ALOT NASDAQ Global Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company 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. Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On August 5, 2024, AstroNova, Inc. (the "Company") entered into an amendment (the "Amendment") to the Separation Agreement entered into on June 25, 2024 (the "Separation Agreement") by the Company and David S. Smith, the Company's former Vice President, Chief Financial Officer and Treasurer. Pursuant to the terms of the Amendment, subject to Mr. Smith providing evidence to the Company of his election of and enrollment in Medicare Part B coverage, the Company will pay to Mr. Smith the amount of $633.20 per month, monthly in arrears, from August 1, 2024 through January 31, 2026. Except as amended by the Amendment, the Separation Agreement remains in full force and effect. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is attached as Exhibits 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item9.01 Financial Statement and Exhibits. (d)Exhibits Exhibit No. Exhibit 10.1 Amendment dated August 5, 2024 to Separation Agreement between the Company and David S. Smith* 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE 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. ASTRONOVA, INC. Dated: August 8, 2024 By: /s/ Thomas D. DeByle Thomas D. DeByle Vice President, Chief Financial Officer and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR