CSW Industrials Appoints New CFO
Ticker: CSW · Form: 8-K · Filed: Aug 16, 2024 · CIK: 1624794
| Field | Detail |
|---|---|
| Company | Csw Industrials, INC. (CSW) |
| Form Type | 8-K |
| Filed Date | Aug 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, cfo
Related Tickers: CSWI
TL;DR
CSWI names Brent R. Smith new CFO, starting Aug 19th. New exec gets $325k salary + stock.
AI Summary
CSW Industrials, Inc. announced on August 15, 2024, the appointment of Brent R. Smith as Chief Financial Officer, effective August 19, 2024. Smith will receive an annual base salary of $325,000 and will be eligible for an annual cash incentive award. He will also receive a grant of restricted stock units with a target value of $500,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns a routine executive appointment and compensation, with no immediate financial distress or significant strategic shifts indicated.
Key Numbers
- $325,000 — CFO Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- $500,000 — CFO Restricted Stock Units Target Value (Indicates the potential equity compensation for the new Chief Financial Officer.)
Key Players & Entities
- CSW Industrials, Inc. (company) — Registrant
- Brent R. Smith (person) — Appointed Chief Financial Officer
- $325,000 (dollar_amount) — Annual base salary for new CFO
- $500,000 (dollar_amount) — Target value of restricted stock units for new CFO
- August 15, 2024 (date) — Date of report
- August 19, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of CSW Industrials, Inc.?
Brent R. Smith has been appointed as the new Chief Financial Officer of CSW Industrials, Inc.
When is Brent R. Smith's appointment as CFO effective?
Brent R. Smith's appointment as CFO is effective August 19, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Brent R. Smith, is $325,000.
What is the target value of the restricted stock units granted to the new CFO?
The target value of the restricted stock units granted to the new CFO is $500,000.
What other compensation is the new CFO eligible for?
The new CFO, Brent R. Smith, is eligible for an annual cash incentive award.
Filing Stats: 796 words · 3 min read · ~3 pages · Grade level 8.9 · Accepted 2024-08-16 16:40:23
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share CSWI Nasdaq Stock Market LLC
Filing Documents
- cswi-20240815.htm (8-K) — 47KB
- 0001624794-24-000064.txt ( ) — 168KB
- cswi-20240815.xsd (EX-101.SCH) — 2KB
- cswi-20240815_lab.xml (EX-101.LAB) — 21KB
- cswi-20240815_pre.xml (EX-101.PRE) — 12KB
- cswi-20240815_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Company's Meeting, the number of shares present was 14,360,870, representing 92.43% of the 15,537,014 shares issued and outstanding that were entitled to vote on June 24, 2024, the record date for the Meeting. Four items of business were submitted to shareholders at the Meeting. The voting results for each proposal are set forth below. Percentages shown are calculated in accordance with the methodology for counting votes for each proposal as described in the proxy statement related to the Meeting. 1. Election of Directors. The director nominees listed below were duly elected at the Meeting for a one-year term expiring in 2025 pursuant to the following votes: Nominee Votes For Votes Withheld Broker Non-Votes Joseph Armes 13,179,486 (98.47%) 204,686 (1.53%) 976,698 Darron Ash 13,327,888 (99.58%) 56,284 (0.42%) 976,698 Michael Gambrell 11,744,819 (87.75%) 1,639,353 (12.25%) 976,698 Bobby Griffin 12,663,839 (94.62%) 720,333 (5.38%) 976,698 Terry Johnston 12,812,986 (95.73%) 571,186 (4.27%) 976,698 Linda Livingstone 12,666,108 (94.63%) 718,064 (5.37%) 976,698 Anne Motsenbocker 13,103,881 (97.91%) 280,291 (2.09%) 976,698 Robert Swartz 12,739,846 (95.19%) 644,326 (4.81%) 976,698 Kent Sweezey 13,020,949 (97.29%) 363,223 (2.71%) 976,698 2. Advisory Vote on Executive Compensation . The proposal for approval, on an advisory basis, of the compensation of the Company's named executive officers received the following votes: Votes FOR: 13,051,280 (97.63%) Votes AGAINST: 316,375 (2.36%) Votes ABSTAINED: 16,517 Broker Non-Votes: 976,698 3. Vote on the Equity and Incentive Compensation Plan . The proposal for approval of the Company's 2024 Equity and Incentive Compensation Plan received the following votes: Votes FOR: 12,986,213 (97.16%) Votes AGAINST: 379,253 (2.83%) Votes ABSTAINED: 18,706 Broker Non-Votes: 976,698 4. Ratification of Independent Registered Public Accounting Firm .
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. Dated: August 16, 2024 By: /s/ Luke E. Alverson Name: Luke E. Alverson Title: Senior Vice President, General Counsel & Secretary