CTS Corp Appoints New CFO, McShane
Ticker: CTS · Form: 8-K · Filed: Mar 10, 2025 · CIK: 26058
| Field | Detail |
|---|---|
| Company | Cts Corp (CTS) |
| Form Type | 8-K |
| Filed Date | Mar 10, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
CTS Corp just hired a new CFO, Michael McShane, with a $375k salary and $750k in stock.
AI Summary
On March 5, 2025, CTS Corporation announced the appointment of Michael J. McShane as its new Chief Financial Officer, effective March 10, 2025. McShane will receive an annual base salary of $375,000 and will be eligible for an annual incentive award of up to 60% of his base salary. He will also receive a one-time grant of restricted stock units (RSUs) valued at approximately $750,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $375,000 — CFO Base Salary (Annual compensation for Michael J. McShane)
- 60% — CFO Incentive Potential (Maximum annual incentive award percentage for new CFO)
- $750,000 — CFO RSU Grant (Value of one-time restricted stock unit award for new CFO)
Key Players & Entities
- CTS Corporation (company) — Registrant
- Michael J. McShane (person) — Appointed Chief Financial Officer
- $375,000 (dollar_amount) — Annual base salary for new CFO
- 60% (dollar_amount) — Maximum annual incentive award for new CFO
- $750,000 (dollar_amount) — Value of one-time RSU grant for new CFO
- March 10, 2025 (date) — Effective date of CFO appointment
- March 05, 2025 (date) — Date of report
FAQ
Who is the new Chief Financial Officer of CTS Corporation?
Michael J. McShane has been appointed as the new Chief Financial Officer of CTS Corporation.
When is Michael J. McShane's appointment as CFO effective?
Michael J. McShane's appointment as CFO is effective March 10, 2025.
What is Michael J. McShane's annual base salary?
Michael J. McShane's annual base salary is $375,000.
What is the maximum annual incentive award for the new CFO?
The new CFO, Michael J. McShane, is eligible for an annual incentive award of up to 60% of his base salary.
What is the value of the one-time restricted stock unit grant for the new CFO?
Michael J. McShane will receive a one-time grant of restricted stock units valued at approximately $750,000.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on March 10, 2025 by Michael J. McShane regarding CTS CORP (CTS).