Innovative Solutions & Support Files 8-K on Director/Officer Changes
Ticker: ISSC · Form: 8-K · Filed: May 16, 2024 · CIK: 836690
Sentiment: neutral
Topics: corporate-governance, officer-compensation, director-changes
Related Tickers: ISSC
TL;DR
ISSC filed an 8-K: director out, new director in, comp changes. Watch for leadership impact.
AI Summary
Innovative Solutions & Support, Inc. filed an 8-K on May 16, 2024, reporting on the departure of a director, election of a new director, and changes in officer compensation. The filing also includes other events and financial statements/exhibits.
Why It Matters
This filing signals potential shifts in the company's leadership and governance structure, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing is routine corporate governance and compensation disclosure, not indicating immediate financial distress or significant operational changes.
Key Players & Entities
- Innovative Solutions & Support, Inc. (company) — Registrant
- May 16, 2024 (date) — Date of earliest event reported
FAQ
Who is the departing director and why did they depart?
The filing indicates the departure of a director but does not specify the name or reason for departure in the provided text.
Who is the newly elected director?
The filing mentions the election of a director but does not provide the name of the individual in the provided text.
What specific changes were made to officer compensation arrangements?
The filing notes changes to compensatory arrangements of certain officers, but the specific details are not included in the provided text.
Are there any material 'Other Events' being reported?
The filing lists 'Other Events' as an item information category, but the specific nature of these events is not detailed in the provided text.
What is the fiscal year end for Innovative Solutions & Support, Inc.?
The fiscal year end for Innovative Solutions & Support, Inc. is September 30 (0930).
Filing Stats: 738 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-05-16 16:55:42
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share ISSC Nasdaq Stock Market LL
Filing Documents
- tm2414741d1_8k.htm (8-K) — 27KB
- tm2414741d1_ex99-1.htm (EX-99.1) — 9KB
- tm2414741d1_ex99-1img01.jpg (GRAPHIC) — 3KB
- 0001104659-24-062581.txt ( ) — 213KB
- issc-20240516.xsd (EX-101.SCH) — 3KB
- issc-20240516_lab.xml (EX-101.LAB) — 33KB
- issc-20240516_pre.xml (EX-101.PRE) — 22KB
- tm2414741d1_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election
Item 5.02 Departure of Directors or Certain Officers; Election of Directors On May 16, 2024, Major General Garry C. Dean joined the Board of Directors (the " Board ") of Innovative Solutions and Support, Inc. (the " Company ") as an independent director for a term until the Company's next annual meeting of shareholders or until his successor is duly elected and qualified or until his earlier death, disqualification, resignation or removal. Maj. General Dean retired as the Director of the National Guard Bureau (NGB) Joint Staff in the Pentagon, supporting Army and Air National Guard policy, missions and operations in the 54 US states, territories, and the District of Columbia. A graduate of the US Air Force Academy and a former F-15 pilot, Maj. General Dean had a distinguished military career including commanding and leading a combat deployment of the 142 Fighter Wing in Portland Oregon. Maj. General Dean is rated as a command pilot and has over 4,000 flight hours in the T-37, T-38 and F-15 airframes. Maj. General Dean currently serves President of Peduzzi Associates, Ltd., Senior Advisor to Vita Inclinata Technologies, and Vice-Chair of the Community Oversight Board of the Arlington County Police, Virginia. There are no family relationships between Maj. General Dean and any director or executive officer of the Company, and Maj. General Dean does not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Maj. General Dean has not entered into, and no grant or award has been made to, Maj. General Dean under any material plan, contract or arrangement of the Company in connection with his appointment. Maj. General Dean will participate in the standard non-employee director compensation arrangements established by the Company, as described under the section entitled "Compensation of Directors" in the Company's definitive proxy statement on Schedule 14A, filed with the Securities and Exchan
01 Other Events
Item 8.01 Other Events. On May 16, 2024, the Company issued a press release announcing the appointment of Maj. General Dean as director. A copy of that press release is attached as Exhibit 99.1 to this report and incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated May 16, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the inline XBRL document. 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, thereunto duly authorized. INNOVATIVE SOLUTIONS AND SUPPORT, INC. Date: May 16, 2024 By: /s/ Jeffrey DiGiovanni Jeffrey DiGiovanni Chief Financial Officer