Hurco Companies Files Definitive Proxy Statement

TL;DR

Hurco proxy statement out - shareholders vote soon on exec pay & directors.

AI Summary

Hurco Companies, Inc. filed its definitive proxy statement (DEF 14A) on January 29, 2025, for the fiscal year ending October 31, 2024. The filing pertains to the company's annual meeting and related corporate governance matters. Key details regarding executive compensation, director elections, and shareholder proposals are expected to be disclosed.

Why It Matters

This filing provides shareholders with crucial information to make informed decisions regarding voting on company matters, including the election of directors and executive compensation, at the upcoming annual meeting.

Risk Assessment

Risk Level: low — This is a routine proxy filing providing information to shareholders and does not inherently indicate new risks.

Key Numbers

• 20250129 — Filing Date (The date the definitive proxy statement was filed with the SEC.)
• 20250313 — Report Date (The period the proxy statement is reporting on.)
• 1031 — Fiscal Year End (The end of Hurco Companies' fiscal year.)

Key Players & Entities

• HURCO COMPANIES INC (company) — Registrant
• ONE TECHNOLOGY WAY (location) — Business and Mail Address
• INDIANAPOLIS (location) — City
• IN (location) — State
• 3172935309 (phone_number) — Business Phone

FAQ

Key Financial Figures

• $1.6 billion — led ITW's consumer products segment, a $1.6 billion business focused on packaging and speci
• $40 million — ual revenues ranging from approximately $40 million to $480 million. 3 Benjamin Rashlege
• $480 million — nging from approximately $40 million to $480 million. 3 Benjamin Rashleger , age 49, is a

Filing Documents

• tm253864d2_def14a.htm (DEF 14A) — 1237KB
• tm253864d1_def14aimg001.jpg (GRAPHIC) — 2KB
• tm253864d1_def14aimg002.jpg (GRAPHIC) — 1KB
• tm253864d1_def14aimg003.jpg (GRAPHIC) — 2KB
• tm253864d1_def14aimg004.jpg (GRAPHIC) — 1KB
• tm253864d1_def14aimg005.jpg (GRAPHIC) — 10KB
• tm253864d1_def14aimg006.jpg (GRAPHIC) — 10KB
• tm253864d1_def14aimg007.jpg (GRAPHIC) — 24KB
• tm253864d1_def14aimg008.jpg (GRAPHIC) — 23KB
• tm253864d1_def14aimgp01.jpg (GRAPHIC) — 167KB
• tm253864d1_def14aimgp02.jpg (GRAPHIC) — 134KB
• tm253864d1_def14aimgp03.jpg (GRAPHIC) — 120KB
• tm253864d1_def14aimgp04.jpg (GRAPHIC) — 129KB
• 0001104659-25-007132.txt ( ) — 3602KB
• hurc-20250130.xsd (EX-101.SCH) — 9KB
• hurc-20250130_def.xml (EX-101.DEF) — 7KB
• hurc-20250130_lab.xml (EX-101.LAB) — 32KB
• hurc-20250130_pre.xml (EX-101.PRE) — 6KB
• tm253864d2_def14a_htm.xml (XML) — 125KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 14 Compensation Discussion and Analysis 14 Report of the Compensation Committee 30 Assessment of Compensation-Related Risks 31 Compensation Tables 32 SUMMARY COMPENSATION TABLE 32 GRANTS OF PLAN-BASED AWARDS IN 2024 34 OUTSTANDING EQUITY AWARDS AT 2024 FISCAL YEAR END 35 OPTION EXERCISES AND STOCK VESTED IN 2024 36 EQUITY COMPENSATION PLAN INFORMATION AT 2024 FISCAL YEAR END 37 NONQUALIFIED DEFERRED COMPENSATION IN 2024 38 CEO Pay Ratio Disclosure 39 Employment Agreements 40 Equity Awards 41 Potential Payments upon Termination 42 PROPOSAL 3. APPROVAL OF THE AMENDMENT TO THE AMENDED AND RESTATED HURCO COMPANIES, INC. 2016 EQUITY INCENTIVE PLAN 46

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 54 PROPOSAL 4. RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 56 REPORT OF THE AUDIT COMMITTEE 58 QUESTIONS AND ANSWERS ABOUT THE 2025 ANNUAL MEETING AND VOTING 59 SHAREHOLDER PROPOSALS FOR OUR 2026 ANNUAL MEETING 62 INCORPORATION BY REFERENCE 62 ANNUAL REPORT ON FORM 10-K 62 OTHER BUSINESS 62 Cautionary Note Regarding Forward-Looking Statements The statements included in this proxy statement regarding future performance and results, expectations, plans, strategies, priorities, commitments, and other statements that are not historical facts are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are based upon current beliefs, expectations, and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from the forward-looking statements. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" in our Annual Report on Form 10-K for the year ended October 31, 2024. Readers of this proxy statement are cautioned not to place undue reliance on these forward-looking statements, since there can be no assurance that these forward-looking as a result of new information, future events, or otherwise. HURCO COMPANIES, INC. 1 Technology Way Indianapolis, Indiana 46268 2025 Annual Meeting of Shareholders March 13, 2025 PROXY STATEMENT SUMMARY This proxy statement and accompanying proxy are being furnished to the holders of common stock of Hurco Companies, Inc. (the "Company," "Hurco," "we," or "us") in connection with the solicitation of p

: Gender Identity

Part I: Gender Identity Directors 2 6

: Demographic Background

Part II: Demographic Background Asian 1 White 7 In further demonstration of the value the Board places on diversity, it also considers the diversity of background and experience when appointing our executive officers. To that end, and as indicated in the chart below, our executive officer team is a diverse group of individuals representative of both Hurco's global footprint and the communities in which we operate. Officer Diversity Matrix (As of January 29, 2025) Total Number of Executive Officers: 5 Female Male Non-Binary Did Not Disclose Gender Part I: Gender Identity Executive Officers 2 3 Part II: Demographic Background Asian 1 White 3 Two or More Races or Ethnicities 1 The Board of Directors recommends a vote "FOR" each of the nominees for director. 5 CORPORATE GOVERNANCE Policies on Corporate Governance Our Board believes that good corporate governance is important to ensure that our Company is managed for the long-term benefit of our shareholders. The Board or one of its committees periodically reviews our Corporate Governance Principles, the written charters for each of the standing committees of the Board, and our Code of Business Conduct and Ethics, and amends them as appropriate to reflect new policies or practices. Board Leadership Structure Our Board is currently led by our Executive Chairman, Mr. Doar. Mr. Doar has held this position since March 2021. Prior to transitioning to the role of Executive Chairman, Mr. Doar served as our Chairman and CEO since 2001. Therefore, he has experience in leading the Company through a range of changes in business environments and has vast institutional knowledge about our business, industry, and people. The Board regularly reevaluates our Board leadership structure and succession planning and may determine that a different leadership structure is appropriate in the future. The Board currently believes that it is most efficient and effective for an executive of

View Full Filing

View this DEF 14A filing on SEC EDGAR