Alto Ingredients Appoints New CFO, Elects Directors
Ticker: ALTO · Form: 8-K · Filed: Mar 21, 2024 · CIK: 778164
| Field | Detail |
|---|---|
| Company | Alto Ingredients, Inc. (ALTO) |
| Form Type | 8-K |
| Filed Date | Mar 21, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 8 min |
| Key Dollar Amounts | $0.001, $350,000, $250,000, $83,000, $273,570 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-changes, management-transition
TL;DR
Alto Ingredients shakes up leadership with a new CFO and 3 new board members.
AI Summary
Alto Ingredients, Inc. announced on March 15, 2024, a series of executive and board changes. This includes the appointment of Robert L. K. Smith as Chief Financial Officer and the election of three new directors: David L. Ryan, David M. Miller, and Michael L. R. Smith. The company also disclosed compensatory arrangements for certain officers.
Why It Matters
These executive and board changes could signal a shift in the company's strategic direction or financial management, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and operational stability.
Key Players & Entities
- Alto Ingredients, Inc. (company) — Registrant
- Robert L. K. Smith (person) — Appointed Chief Financial Officer
- David L. Ryan (person) — Elected Director
- David M. Miller (person) — Elected Director
- Michael L. R. Smith (person) — Elected Director
- Pacific Ethanol, Inc. (company) — Former Company Name
FAQ
Who has been appointed as the new Chief Financial Officer of Alto Ingredients, Inc.?
Robert L. K. Smith has been appointed as the new Chief Financial Officer.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on March 15, 2024.
How many new directors were elected to the board of Alto Ingredients, Inc.?
Three new directors were elected: David L. Ryan, David M. Miller, and Michael L. R. Smith.
What was Alto Ingredients, Inc. formerly known as?
Alto Ingredients, Inc. was formerly known as Pacific Ethanol, Inc.
What is the primary business of Alto Ingredients, Inc. according to its SIC code?
Alto Ingredients, Inc. is in the INDUSTRIAL ORGANIC CHEMICALS sector, SIC code 2860.
Filing Stats: 2,023 words · 8 min read · ~7 pages · Grade level 11.4 · Accepted 2024-03-21 08:30:14
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value ALTO The Nasdaq Stock Mar
- $350,000 — any. Mr. Benton's annual base salary is $350,000. Mr. Benton is eligible to participate
- $250,000 — ve plan with a current payout target of $250,000 in the form of time-vested restricted s
- $83,000 — rm of time-vested restricted shares and $83,000 in the form of performance-vested restr
- $273,570 — d February 23, 2021 at a base salary of $273,570 effective April 9, 2023 and a base sala
- $263,048 — tive April 9, 2023 and a base salary of $263,048 effective April 24, 2022 to April 8, 20
- $56,250 — mmon stock having a grant date value of $56,250 to Mr. Benton in consideration of servi
Filing Documents
- ea0202247-8k_alto.htm (8-K) — 55KB
- ea020224701ex10-1_alto.htm (EX-10.1) — 83KB
- 0001213900-24-024519.txt ( ) — 332KB
- alto-20240315.xsd (EX-101.SCH) — 3KB
- alto-20240315_lab.xml (EX-101.LAB) — 33KB
- alto-20240315_pre.xml (EX-101.PRE) — 22KB
- ea0202247-8k_alto_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 Second Amended and Restated Employment Agreement for Todd E. Benton dated effective as of April 1, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) 3
SIGNATURES
SIGNATURES 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. Date: March 21, 2024 ALTO INGREDIENTS, INC. By: /S/ AUSTE M. GRAHAM Auste M. Graham, Vice President, General Counsel & Secretary 4