EVI Industries Files 10-K Amendment

TL;DR

EVI Industries just dropped an amended 10-K for FY24. Check it for the latest numbers.

AI Summary

EVI Industries, Inc. filed an amendment (No. 2) to its 10-K for the fiscal year ended June 30, 2024. The filing, dated October 25, 2024, provides updated information for the company, which was formerly known as EnviroStar, Inc. and DRYCLEAN USA INC.

Why It Matters

This amendment to the annual report provides updated financial and operational information for EVI Industries, Inc., crucial for investors and stakeholders to assess the company's performance and outlook.

Risk Assessment

Risk Level: low — This filing is an amendment to a routine annual report and does not appear to contain significant new negative information.

Key Numbers

• 001-14757 — Commission file number (Identifies the company's SEC filings)
• 11-2014231 — IRS Number (Company's tax identification number)

Key Players & Entities

• EVI Industries, Inc. (company) — Registrant
• June 30, 2024 (date) — Fiscal year end
• October 25, 2024 (date) — Filing date
• EnviroStar, Inc. (company) — Former company name
• DRYCLEAN USA INC (company) — Former company name

FAQ

Key Financial Figures

• $0.025 — nge on which registered Common Stock, $0.025 par value EVI NYSE American Securit
• $650,000 — - sation Total Henry M. Nahmad 2024 $650,000 $750,000 $4,500,009 — — — $14,501
• $750,000 — Total Henry M. Nahmad 2024 $650,000 $750,000 $4,500,009 — — — $14,501 $5,914,5
• $4,500,009 — ry M. Nahmad 2024 $650,000 $750,000 $4,500,009 — — — $14,501 $5,914,510 Chairma
• $14,501 — 650,000 $750,000 $4,500,009 — — — $14,501 $5,914,510 Chairman, Chief Executive
• $5,914,510 — $750,000 $4,500,009 — — — $14,501 $5,914,510 Chairman, Chief Executive Officer a
• $550,000 — Officer and President 2023 $650,000 $550,000 $3,299,609 — — — — $4,499,609 T
• $3,299,609 — nd President 2023 $650,000 $550,000 $3,299,609 — — — — $4,499,609 Tom Marks 20
• $4,499,609 — ,000 $550,000 $3,299,609 — — — — $4,499,609 Tom Marks 2024 $400,000 $300,000
• $400,000 — — — — $4,499,609 Tom Marks 2024 $400,000 $300,000 $500,013 — — — $9,900 $
• $300,000 — $4,499,609 Tom Marks 2024 $400,000 $300,000 $500,013 — — — $9,900 $1,209,913
• $500,013 — Tom Marks 2024 $400,000 $300,000 $500,013 — — — $9,900 $1,209,913 Executiv
• $9,900 — $400,000 $300,000 $500,013 — — — $9,900 $1,209,913 Executive Vice President,
• $1,209,913 — 0 $300,000 $500,013 — — — $9,900 $1,209,913 Executive Vice President, Business
• $659,922 — elopment and 2023 $400,000 $300,000 $659,922 — — — $9,150 $1,369,072 Presiden

Filing Documents

• form10ka-33042_evi.htm (10-K/A) — 198KB
• ex31-a.htm (EX-31.A) — 3KB
• ex31-b.htm (EX-31.B) — 3KB
• 0001174947-24-001167.txt ( ) — 449KB
• evi-20240630.xsd (EX-101.SCH) — 3KB
• evi-20240630_lab.xml (EX-101.LAB) — 36KB
• evi-20240630_pre.xml (EX-101.PRE) — 24KB
• form10ka-33042_evi_htm.xml (XML) — 7KB

Executive Compensation

Executive Compensation 4 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 11 Item 13 Certain Relationships and Related Transactions, and Director Independence 13 Item 14 Principal Accountant Fees and Services 14 PART IV Item 15 Exhibits and Financial Statement Schedules 15

SIGNATURES

SIGNATURES 16 -i- PART III Item 10. Directors, Executive Officers and Corporate Governance. Executive Officers and Directors The following table lists the names and ages of the Company's executive officers and directors, and their respective positions with the Company. Name Age Position Henry M. Nahmad 45 Chairman, Chief Executive Officer and President Tom Marks 65 Executive Vice President, Business Development and President of West Region Robert H. Lazar 60 Chief Financial Officer and Chief Accounting Officer Dennis Mack 80 Director David Blyer 64 Director Glen Kruger 49 Director Timothy P. LaMacchia 62 Director Hal M. Lucas 45 Director Set forth below is certain additional information for each executive officer and director of the Company, including his principal occupation or employment for at least the previous five years and, with respect to each director, his specific experience, qualifications, attributes and/or skills which, in the opinion of the Company's Board of Directors (the "Board"), qualifies him to serve as a director and are likely to enhance the Board's ability to manage and direct the Company's business and affairs. Henry Nahmad has served as a director of the Company and as Chairman, Chief Executive Officer and President of the Company since March 2015. Prior to joining the Company, Mr. Nahmad served as Chief Executive Officer of Chemstar Corp., a provider of food safety and sanitation solutions, from July 2009 to March 2014. From 2001 to 2004 and from 2007 to 2009, Mr. Nahmad worked in various capacities at Watsco, Inc., the largest distributor of HVAC/R products. The Board believes that Mr. Nahmad's knowledge, leadership skills, business relationships, and experience, including with respect to growth from acquisitions and other strategic transactions, make Mr. Nahmad a valuable member of the Board and benefit the Company, including with respect to its business, operations and growth strategy. Tom

Business

Business Development and 2023 $400,000 $300,000 $659,922 — — — $9,150 $1,369,072 President of West Region Robert H. Lazar 2024 $283,846 $60,000 $250,017 — — — $6,500 $600,363 Chief Financial Officer and Chief Accounting Officer 2023 $240,000 $60,000 $329,945 — — — $6,500 $636,445 (1) The Company does not have an employment agreement with any of the Named Executive Officers. The compensation of the Named Executive Officers is determined by the Compensation Committee of the Board of Directors. Each Named Executive Officer receives an annual base salary and may receive bonuses, in cash and/or equity awards, pursuant to bonus plans which may be established from time to time by the Compensation Committee or otherwise at the discretion of the Compensation Committee. Equity awards, if any, are granted under the Company's 2015 Equity Incentive Plan, as amended (the "Equity Incentive Plan"). The Named Executive Officers are also provided certain benefits, including health and welfare benefits and the right to participate in the Company's participatory Section 401(k) Profit Sharing Plan described below on the same basis as the Company's other employees. (2) Represents the annual base salary paid to the Named Executive Officer during the applicable fiscal year. Each Named Executive Officer's annual base salary is subject to adjustment from time to time at the discretion of the Compensation Committee. During October 2023, Mr. Lazar's annual base salary was increased from $240,000 to $300,000. (3) Represents discretionary bonuses paid upon the approval of the Compensation Committee, in each cash, based upon a subjective evaluation of the performance of the Company and the applicable Named Executive Officer. See "Chief Executive Officer Compensation" below for information with respect to the bonuses paid to Mr. Nahmad, including the factors considered by the Compensation Committee in approving such bonuses and the restricted stock award

View Full Filing

View this 10-K/A filing on SEC EDGAR