Core Molding Technologies Invites Stockholders to Annual Meeting, Highlights Record 2023 Performance

TL;DR

<b>Core Molding Technologies announced its 2024 Annual Meeting of Stockholders and reported record financial performance for 2023, including $20.3 million in net income and $34.4 million in operating cash flow.</b>

AI Summary

CORE MOLDING TECHNOLOGIES INC (CMT) filed a Proxy Statement (DEF 14A) with the SEC on April 11, 2024. Record net income of $20.3 million achieved in 2023. Generated record cash flows from operations totaling $34.4 million in 2023. Secured $21 million in net new business wins expected to launch over future years. Published the company's first sustainability report and achieved Ecovadis Bronze status. Increased training and development hours by 19% to nearly 40,000 hours in 2023.

Why It Matters

For investors and stakeholders tracking CORE MOLDING TECHNOLOGIES INC, this filing contains several important signals. The company's focus on operational excellence and product line profitability in 2023 led to record financial results, positioning it for future growth. Significant new business wins totaling $21 million indicate strong future revenue potential and customer confidence.

Risk Assessment

Risk Level: low — CORE MOLDING TECHNOLOGIES INC shows low risk based on this filing. The filing is a routine proxy statement with no new negative financial information, indicating a stable operational and financial outlook.

Analyst Insight

Review the detailed proposals and executive compensation information within the proxy statement to understand the board's strategic direction and shareholder value initiatives.

Key Numbers

• 2023-12-31 — Fiscal Year End (Core Molding Technologies' fiscal year end)
• 2024-04-11 — Filing Date (Date the DEF 14A was filed)
• 2024-05-16 — Annual Meeting Date (Date of the Annual Meeting of Stockholders)
• $20.3 million — Net Income (Record net income for 2023)
• $34.4 million — Cash Flow from Operations (Record cash flow from operations for 2023)
• $21 million — Net New Business Wins (Value of new business secured for future launch)
• 19% — Training Hours Increase (Percentage increase in training and development hours)
• 40,000 — Training Hours (Total training and development hours in 2023)

Key Players & Entities

• CORE MOLDING TECHNOLOGIES INC (company) — Registrant name
• 2024-05-16 (date) — Annual Meeting date
• 2023 (date) — Fiscal year for performance review
• $20.3 million (dollar_amount) — Record net income
• $34.4 million (dollar_amount) — Record cash flows from operations
• $21 million (dollar_amount) — Net new business wins
• Ecovadis (company) — Sustainability assessment platform
• Columbus, Ohio (location) — Company headquarters and meeting location

FAQ

Key Dates

• 2024-04-11: Filing of Definitive Proxy Statement — Provides details for the upcoming Annual Meeting and highlights 2023 performance.
• 2024-05-16: Annual Meeting of Stockholders — Key date for shareholders to attend and vote on company matters.

Key Financial Figures

• $20.3 million — 23 are as follows Record net income of $20.3 million Record cash flows from operations of $
• $34.4 million — n Record cash flows from operations of $34.4 million $21 million of net new business wins w
• $21 million — flows from operations of $34.4 million $21 million of net new business wins which launch o

Filing Documents

• a2023coreproxystatement.htm (DEF 14A) — 901KB
• capcomparedtonetincome32224.jpg (GRAPHIC) — 216KB
• capcomparedtoshareholderre.jpg (GRAPHIC) — 238KB
• ceo.jpg (GRAPHIC) — 56KB
• neo.jpg (GRAPHIC) — 60KB
• proxy1.jpg (GRAPHIC) — 112KB
• proxy2.jpg (GRAPHIC) — 66KB
• 0001026655-24-000050.txt (&nbsp;) — 1931KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 18 DIRECTOR COMPENSATION 34 38 DELINQUENT SECTION 16(a) REPORTS 36 AUDIT COMMITTEE REPORT 39 AUDIT FEES 40 AUDIT RELATED FEES 40 TAX FEES 40 ALL OTHER FEES 40 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 41 LIMITATION ON OWNERSHIP 41 PROPOSAL NO. 1 ELECTION OF DIRECTORS 44 PROPOSAL NO. 2 NON-BINDING ADVISORY VOTE ON EXECUTIVE COMPENSATION 45 PROPOSAL NO. 3 APPROVAL OF AN AMENDMENT TO THE CORE MOLDING TECHNOLOGIES, INC. 2021 LONG-TERM EQUITY INCENTIVE PLAN 46 PROPOSAL NO. 4 APPROVAL TO AMEND AND RESTATE THE COMPANY'S CERTIFICATE OF INCORPORATION TO PERMIT THE EXCULPATION OF OFFICERS 54 PROPOSAL NO. 5 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 57 OTHER MATTERS 58 VOTE CARD 59 CORE MOLDING TECHNOLOGIES, INC. 800 Manor Park Drive Columbus, Ohio 43228 (614) 870-5000 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS May 16, 2024 To Our Stockholders Core Molding Technologies, Inc. (the Company) will hold its 2024 Annual Meeting of Stockholders (the annual meeting) on May 16, 2024 at 900 a.m., Eastern Daylight Savings Time, at 800 Manor Park Drive, Columbus, OH, for the following purposes 1. to elect seven (7) directors to comprise the Board of Directors of the Company 2. to hold a non-binding advisory vote on the compensation of our named executive officers 3. to approve an amendment to the Core Molding Technologies, Inc. 2021 Long-Term Equity Incentive Plan ("LTIP") 4. to approve an amendment and restatement of the Company's Certificate of Incorporation to permit the exculpation of officers 5. to ratify the appointment of Crowe LLP as the independent registered public accounting firm for the Company for the year ending December 31, 2024 and 6. to consider and act upon other business as may properly come before the annual meeting and any adjournments or postponements of the annual meeting. The foregoing matters are de

View Full Filing

View this DEF 14A filing on SEC EDGAR