Carriage Services Appoints New COO and CFO

TL;DR

New COO & CFO in at Carriage Services (CSV) as old ones exit.

AI Summary

Carriage Services, Inc. announced on May 1, 2024, that its Board of Directors elected new members and appointed new officers. Specifically, Steven L. Watson was appointed as Chief Operating Officer, and David L. Moody was appointed as Chief Financial Officer. The company also announced the departure of its previous COO and CFO, effective April 29, 2024.

Why It Matters

The appointment of new key financial and operational leaders can signal a shift in company strategy or operational focus, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in top executive positions, especially CFO and COO, can introduce uncertainty regarding future strategy and financial management.

Key Players & Entities

• Carriage Services, Inc. (company) — Registrant
• Steven L. Watson (person) — Appointed Chief Operating Officer
• David L. Moody (person) — Appointed Chief Financial Officer
• April 29, 2024 (date) — Effective date of departure for previous officers
• May 1, 2024 (date) — Date of Board of Directors' election and appointments

FAQ

Filing Documents

• csv-20240501.htm (8-K) — 36KB
• paulelliottsecondamendme.htm (EX-10.1) — 14KB
• kiangranmayehsecondamend.htm (EX-10.2) — 11KB
• shawnphillipsthirdamendm.htm (EX-10.3) — 10KB
• pressrelease-q12024.htm (EX-99.1) — 334KB
• kiangranmayehsecondamend001.jpg (GRAPHIC) — 199KB
• kiangranmayehsecondamend002.jpg (GRAPHIC) — 256KB
• kiangranmayehsecondamend003.jpg (GRAPHIC) — 261KB
• kiangranmayehsecondamend004.jpg (GRAPHIC) — 77KB
• logoa.jpg (GRAPHIC) — 25KB
• paulelliottsecondamendme001.jpg (GRAPHIC) — 193KB
• paulelliottsecondamendme002.jpg (GRAPHIC) — 265KB
• paulelliottsecondamendme003.jpg (GRAPHIC) — 251KB
• paulelliottsecondamendme004.jpg (GRAPHIC) — 238KB
• paulelliottsecondamendme005.jpg (GRAPHIC) — 70KB
• shawnphillipsthirdamendm001.jpg (GRAPHIC) — 215KB
• shawnphillipsthirdamendm002.jpg (GRAPHIC) — 245KB
• shawnphillipsthirdamendm003.jpg (GRAPHIC) — 167KB
• shawnphillipsthirdamendm004.jpg (GRAPHIC) — 65KB
• 0001016281-24-000086.txt ( ) — 4052KB
• csv-20240501.xsd (EX-101.SCH) — 2KB
• csv-20240501_lab.xml (EX-101.LAB) — 21KB
• csv-20240501_pre.xml (EX-101.PRE) — 12KB
• csv-20240501_htm.xml (XML) — 3KB

02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION . In the press release dated May 1, 2024, Carriage Services, Inc. (the "Company") announced and commented on its financial results for its quarter ended March 31, 2024. A copy of the press release issued by the Company is attached hereto as Exhibit 99.1 and incorporated by this reference. The Company's press release dated May 1, 2024, contains non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Pursuant to the requirements of Regulation G, the Company has provided quantitative reconciliations within the press release of the non-GAAP financial measures to the most directly comparable GAAP financial measures. ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. (e) Amendments to Employment Agreements for certain Named Executive Officers On April 29, 2024, upon the recommendation of the Compensation Committee of the Board of Directors (the "Board"), the Company and Paul D. Elliott, the Company's Senior Vice President and Regional Partner, entered into a written amendment to Mr. Elliott's employment agreement dated November 5, 2019, as previously amended. The written amendment, among other things, (i) extends the term of Mr. Elliott's current employment agreement to December 31, 2026, (ii) revises the amount of cash severance payable to Mr. Elliott following an involuntary termination without cause not within a corporate change in control period, providing for the continuation of Mr. Elliott's base salary for a period of twelve (12) months, (iii) changes all post-employment rest

01 FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS . Exhibit Description 10.1 Second Amendment to Employment Agreement dated April 29, 2024, by and between Carriage Services, Inc. and Paul D. Elliott. 10.2 Second Amendment to Employment Agreement dated April 30, 2024, by and between Carriage Services, Inc. and L. Kian Granmayeh. 10.3 Third Amendment to Employment Agreement dated April 30, 2024, by and between Carriage Services, Inc. and Shawn R. Phillips. 99.1 Press Release dated May 1, 2024. 101 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document 104 The cover page from this Current Report on Form 8-K, formatted as Inline XBRL SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, Carriage Services, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CARRIAGE SERVICES, INC. Dated: May 1, 2024 By: /s/ Steven D. Metzger Steven D. Metzger President and Secretary

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