CPS Technologies Corp. Announces Director Changes and CEO Employment Agreement
Ticker: CPSH · Form: 8-K · Filed: Dec 5, 2024 · CIK: 814676
Sentiment: neutral
Topics: director-change, executive-compensation, governance
TL;DR
CPS Tech shakes up board, inks new CEO deal.
AI Summary
On December 3, 2024, CPS Technologies Corp. reported a departure of a director, Mr. Robert J. Lerman, effective December 2, 2024. The company also announced the election of Mr. David M. Gannon as a new director, effective December 3, 2024. Additionally, the company entered into a new employment agreement with its President and CEO, Mr. Charles J. Z. Shuman, effective December 3, 2024.
Why It Matters
Changes in board composition and executive employment agreements can signal shifts in company strategy or leadership stability.
Risk Assessment
Risk Level: low — The filing primarily concerns routine corporate governance changes and executive compensation, with no immediate financial distress or significant operational shifts indicated.
Key Players & Entities
- CPS Technologies Corp. (company) — Registrant
- Robert J. Lerman (person) — Departing Director
- David M. Gannon (person) — Newly Elected Director
- Charles J. Z. Shuman (person) — President and CEO
- December 3, 2024 (date) — Effective date of board election and CEO agreement
- December 2, 2024 (date) — Effective date of director departure
FAQ
Who has departed from the board of directors at CPS Technologies Corp.?
Mr. Robert J. Lerman has departed from the board of directors, with his departure effective December 2, 2024.
Who has been elected as a new director?
Mr. David M. Gannon has been elected as a new director, effective December 3, 2024.
What is the effective date of the reported events?
The earliest event reported is effective December 2, 2024, with other key events, including the director election and CEO agreement, effective December 3, 2024.
Has the company entered into any new employment agreements?
Yes, CPS Technologies Corp. has entered into a new employment agreement with its President and CEO, Mr. Charles J. Z. Shuman, effective December 3, 2024.
What is the company's principal executive office address?
The company's principal executive offices are located at 111 South Worcester Street, Norton, MA 02766.
Filing Stats: 569 words · 2 min read · ~2 pages · Grade level 9.9 · Accepted 2024-12-05 15:09:36
Key Financial Figures
- $0.01 — h registered Common Stock , par value $0.01 per share CPSH NASDAQ Capital Market
Filing Documents
- cpsh20241205_8k.htm (8-K) — 26KB
- ex_754525.htm (EX-99.1) — 7KB
- 0001437749-24-036790.txt ( ) — 165KB
- cpsh-20241203.xsd (EX-101.SCH) — 3KB
- cpsh-20241203_def.xml (EX-101.DEF) — 11KB
- cpsh-20241203_lab.xml (EX-101.LAB) — 15KB
- cpsh-20241203_pre.xml (EX-101.PRE) — 11KB
- cpsh20241205_8k_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 99.1 Press Release, dated December 5, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CPS TECHNOLOGIES CORP. Date: December 5, 2024 By: /s/ Charles K. Griffith, Jr. Name: Charles K. Griffith, Jr. Title: Chief Financial Officer