INSTEEL INDUSTRIES INC Files Definitive Proxy Statement

TL;DR

<b>INSTEEL INDUSTRIES INC has filed its Definitive Proxy Statement (DEF 14A) on January 3, 2024.</b>

AI Summary

INSTEEL INDUSTRIES INC (IIIN) filed a Proxy Statement (DEF 14A) with the SEC on January 3, 2024. INSTEEL INDUSTRIES INC filed a DEF 14A on 2024-01-03. The filing covers the period ending 2024-02-13. The company's fiscal year ends on September 30. INSTEEL INDUSTRIES INC is classified under "STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS" (SIC 3310). The company was formerly known as EXPOSAIC INDUSTRIES INC, with a name change on 1988-05-11.

Why It Matters

For investors and stakeholders tracking INSTEEL INDUSTRIES INC, this filing contains several important signals. This filing is crucial for shareholders as it outlines proposals and information related to upcoming shareholder meetings, including executive compensation and director elections. Understanding the details within this DEF 14A can help investors make informed decisions regarding their voting rights and the company's governance.

Risk Assessment

Risk Level: — INSTEEL INDUSTRIES INC shows moderate risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant operational changes.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions to understand potential impacts on corporate strategy and shareholder value.

Key Numbers

• 2024-01-03 — Filing Date (DEF 14A filing date)
• 2024-02-13 — Period of Report (Conformed period of report)
• 0930 — Fiscal Year End (Company fiscal year end)
• 1988-05-11 — Name Change Date (Date of former company name change)

Key Players & Entities

• INSTEEL INDUSTRIES INC (company) — Filer
• EXPOSAIC INDUSTRIES INC (company) — Former company name
• NC (location) — State of incorporation
• MOUNT AIRY (location) — Business address city
• 3367862141 (phone) — Business phone

FAQ

Industry Context

INSTEEL INDUSTRIES INC operates in the steel works, blast furnaces, and rolling & finishing mills industry.

Regulatory Implications

The filing is a DEF 14A, a standard disclosure document required by the SEC for public companies.

What Investors Should Do

1. Review executive compensation packages detailed in the filing.
2. Analyze any shareholder proposals and board recommendations.
3. Note the company's fiscal year end and reporting periods for future reference.

Key Dates

• 2024-01-03: Filing Date — Filing of Definitive Proxy Statement
• 2024-02-13: Period of Report — Reporting period for the proxy statement
• 1988-05-11: Name Change — Date of name change from EXPOSAIC INDUSTRIES INC

Year-Over-Year Comparison

This is the initial DEF 14A filing for the period ending 2024-02-13, following previous filings for earlier periods.

Filing Documents

• liiin2024_def14a.htm (DEF 14A) — 867KB
• liiin2024_def14a.pdf (DEF 14A) — 282KB
• check01.jpg (GRAPHIC) — 1KB
• liiinx18x1.jpg (GRAPHIC) — 2KB
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• liiinx1x1.jpg (GRAPHIC) — 105KB
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• liiinx3x2.jpg (GRAPHIC) — 5KB
• liiinx42x1.jpg (GRAPHIC) — 70KB
• liiinx42x2.jpg (GRAPHIC) — 69KB
• liiinx42x3.jpg (GRAPHIC) — 68KB
• liiinx42x4.jpg (GRAPHIC) — 47KB
• liiinx43x1.jpg (GRAPHIC) — 1KB
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• liiinx56x1.jpg (GRAPHIC) — 16KB
• liiinx5x1.jpg (GRAPHIC) — 9KB
• liiinx5x2.jpg (GRAPHIC) — 2KB
• liiinx5x3.jpg (GRAPHIC) — 2KB
• liiinx5x4.jpg (GRAPHIC) — 3KB
• logo.jpg (GRAPHIC) — 28KB
• proxy1.jpg (GRAPHIC) — 266KB
• proxy2.jpg (GRAPHIC) — 304KB
• uncheck.jpg (GRAPHIC) — 1KB
• 0001308179-24-000003.txt (&nbsp;) — 4855KB
• iiin-20230930.xsd (EX-101.SCH) — 7KB
• iiin-20230930_def.xml (EX-101.DEF) — 12KB
• iiin-20230930_lab.xml (EX-101.LAB) — 69KB
• iiin-20230930_pre.xml (EX-101.PRE) — 47KB
• liiin2024_def14a_htm.xml (XML) — 252KB

Executive Compensation Committee Report

Executive Compensation Committee Report 29 Summary Compensation Table 30 Fiscal 2023 Grants of Plan-Based Awards 31 Outstanding Equity Awards at Fiscal Year End 2023 32 Options Exercised and Stock Vested During Fiscal Year 2023 34 Pension Benefits 34 Potential Payments upon Termination or Change in Control 35 CEO Pay Ratio 38 Pay Versus Performance 38 www.insteel.com INSTEEL INDUSTRIES INC. | 2024 Proxy Statement 4 Back to Contents Director Compensation 41 Equity Compensation Plan Information 41 Compensation Committee Interlocks and Insider Participation 42 Item Number Three: Ratification of the Appointment of Grant Thornton LLP as our Independent Registered Public Accounting Firm 43 Board Recommendation 43 Fees Paid to Independent Registered Public Accounting Firm 43 Pre-Approval Policies and Procedures 44 Report of the Audit Committee 44 Certain Relationships and Related Person Transactions 45 Questions and Answers About the Annual Meeting 46 Other Information 50 Expenses of Solicitation 50 Householding 50 Shareholder Proposals for the 2025 Annual Meeting 51 Proposals for Inclusion in the Proxy Statement 51 Other Proposals 51 Delivery of Notice of a Proposal 51 INSTEEL INDUSTRIES INC. | 2024 Proxy Statement 5 Back to Contents Proxy Summary This summary highlights certain information that is described in more detail elsewhere in this proxy statement. This summary does not contain all the information you should consider before voting on the issues at the 2024 Annual Meeting of Shareholders (the "Annual Meeting"), so we ask that you read the entire proxy 2024 Annual Meeting of Shareholders Date and Time: February 13, 2024 9:00 a.m. Eastern time Place: Cross Creek Country Club 1129 Greenhill Road Mount Airy, NC 27030 Eligibility to Vote You can vote at the Annual

View Full Filing

View this DEF 14A filing on SEC EDGAR