Innovative Solutions & Support Files 8-K/A Amendment

TL;DR

ISSC filed an 8-K/A amendment on Nov 20, 2024, regarding officer/director changes & comp. Details TBD.

AI Summary

Innovative Solutions & Support, Inc. filed an amendment (8-K/A) on November 25, 2024, to a previous report dated November 20, 2024. The amendment pertains to the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers. The filing does not specify names or dollar amounts but indicates changes in corporate governance and executive compensation.

Why It Matters

This amendment to a previous filing signals potential changes in the company's leadership or executive compensation structure, which could impact investor confidence and future strategic direction.

Risk Assessment

Risk Level: medium — Amendments to 8-K filings concerning officer and director changes, and compensation can indicate internal shifts that may carry inherent risks.

Key Players & Entities

• INNOVATIVE SOLUTIONS AND SUPPORT, INC. (company) — Registrant
• November 20, 2024 (date) — Earliest event reported date
• November 25, 2024 (date) — Filing date of amendment

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ISSC Nasdaq Stock Market LL
• $10 — sting Prices for the three Tranches are $10.00, $12.00 and $14.00, respectively, bu
• $12.00 — ices for the three Tranches are $10.00, $12.00 and $14.00, respectively, but if the fi
• $14 — e three Tranches are $10.00, $12.00 and $14.00, respectively, but if the first Tran

Filing Documents

• tm2429435d1_8ka.htm (8-K/A) — 27KB
• 0001104659-24-122346.txt ( ) — 196KB
• issc-20241120.xsd (EX-101.SCH) — 3KB
• issc-20241120_lab.xml (EX-101.LAB) — 33KB
• issc-20241120_pre.xml (EX-101.PRE) — 22KB
• tm2429435d1_8ka_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. On November 20, 2024 (the "Grant Date"), Innovative Solutions and Support, Inc. (the "Company") granted Shahram Askarpour, the Company's Chief Executive Officer, an award of 201,000 performance stock units (the "CEO Performance Award") under the Innovative Solutions and Support, Inc. Amended and Restated 2019 Stock-Based Incentive Compensation Plan (the "Plan"). Pursuant to the CEO Performance Award, Mr. Askarpour would earn one share of the Company's common stock, $0.001 par value per share ("Common Stock") for each performance stock unit that vests if the Company's Common Stock trades for 20 consecutive trading days at or above the applicable trading price thresholds (each such threshold, a "Vesting Price"), described below, during the four-year period following the Grant Date (the "Performance Period"). The performance stock units will vest in three tranches (each a "Tranche"). Each Tranche consists of one-third of the performance stock units. The Vesting Prices for the three Tranches are $10.00, $12.00 and $14.00, respectively, but if the first Tranche has not vested by the third anniversary of the Grant Date, the Vesting Price first Tranche will be increased to $12.00 for the remainder of the Performance Period. Any performance stock units that have not vested as of the end of the Performance Period will be forfeited. In the event Mr. Askarpour's employment with the Company is terminated for any reason, any unvested performance stock units will be immediately forfeited with no compensation or payment due to Mr. Askarpour. If a Change in Control (as defined in the Plan) or similar event occurs during the Performance Period, each unvested Tranche will vest as of the effective time of such Change in Control to the extent that the per share consideration received by the Company's shareholders in connection

View Full Filing

View this 8-K/A filing on SEC EDGAR