IEH Corp Reports Director Changes and Compensation Updates

TL;DR

IEH Corp board shakeup and pay changes announced. Watch for new strategy.

AI Summary

IEH Corp announced on December 24, 2024, changes in its board of directors and executive compensation arrangements. The filing details the departure of a director and the election of a new director, along with updates to the compensatory arrangements for certain officers.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in directorship and executive compensation can indicate internal shifts that may affect company direction and stability.

Key Players & Entities

• IEH Corp (company) — Registrant
• December 24, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $491,745 — Offerman will receive a base salary of $491,745 per annum and be eligible to receive an
• $0.01 — chase shares of common stock, par value $0.01 per share at an exercise price of $10.7
• $10.75 — $0.01 per share at an exercise price of $10.75 per common share for the fiscal year en

Filing Documents

• tm2432343d1_8k.htm (8-K) — 34KB
• tm2432343d1_ex10-1.htm (EX-10.1) — 112KB
• 0001104659-24-132756.txt ( ) — 341KB
• iehc-20241224.xsd (EX-101.SCH) — 3KB
• iehc-20241224_lab.xml (EX-101.LAB) — 33KB
• iehc-20241224_pre.xml (EX-101.PRE) — 22KB
• tm2432343d1_8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Employment Agreement with Chief Executive Officer On December 24, 2024, IEH entered into an employment agreement with David Offerman, its Chief Executive Officer and President. The employment agreement with Mr. Offerman is effective as of January 1, 2025 and will expire on December 31, 2029. The following is a summary of the terms of the employment agreement with Mr. Offerman, which summary is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K. Mr. Offerman serves as the Chief Executive Officer and President of IEH Corporation. and as a member of its board of directors. Under the employment agreement, Mr. Offerman will receive a base salary of $491,745 per annum and be eligible to receive an annual bonus of up to 100% of base salary for each fiscal year of employment based on performance targets and other key objectives established by the Compensation Committee of the board of directors (the " Committee "). He will also be eligible to receive option grants under the Company's 2020 Equity Based Compensation Plan. In connection with the execution of the employment agreement, he will receive a grant of 25,000 options to purchase shares of common stock, par value $0.01 per share at an exercise price of $10.75 per common share for the fiscal year ended March 31, 2025. All such options granted are immediately vested. During the term of the employment agreement, he shall also be eligible to receive equity or performance awards pursuant to any long-term incentive compensation plan adopted by the Committee or the board of directors. In the event of the termination of Mr. Offerman's employment by us without "cause" or by him for "good reason", as such terms are defined in the employment agreement, he would be entitled to: (a)

01 Financial Statements and

Item 9.01 Financial Statements and Exhibits (d) Exhibits The following exhibit relating to Item 5.02 shall be deemed to be furnished, and not filed: Exhibit Number Exhibit Title or Description 10.1 Employment Agreement between the Company and David Offerman. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2 SIGNATURE 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. IEH Corporation By: /s/ Subrata Purkayastha Name: Subrata Purkayastha Title: Chief Financial Officer Date: December 24, 2024 3 EXHIBIT INDEX Exhibit Number Description 10.1 Employment Agreement between the Company and David Offerman. 4

View Full Filing

View this 8-K filing on SEC EDGAR