LGL Group Reports Director Changes and Compensation Updates
Ticker: LGL · Form: 8-K · Filed: Apr 16, 2024 · CIK: 61004
| Field | Detail |
|---|---|
| Company | Lgl Group Inc (LGL) |
| Form Type | 8-K |
| Filed Date | Apr 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: LGLG
TL;DR
LGL Group shakes up board, updates exec pay. Watch for details.
AI Summary
On April 16, 2024, The LGL Group, Inc. filed an 8-K report detailing changes in its board of directors and executive compensation. The filing includes the election of new directors and updates to compensatory arrangements for certain officers, though specific names and dollar amounts related to these changes are not detailed in the provided text.
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 board and executive compensation can indicate internal shifts that may affect company direction and performance.
Key Players & Entities
- LGL GROUP INC (company) — Registrant
- Delaware (jurisdiction) — State of Incorporation
- Orlando, FL (location) — Principal Executive Offices
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors and departure of directors, but the specific names and details of these changes are not provided in the excerpt.
What are the details of the updated compensatory arrangements for officers?
The filing mentions updates to compensatory arrangements for certain officers, but the specific details, including dollar amounts or terms, are not included in the provided text.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 16, 2024.
What is the principal business address of The LGL Group, Inc.?
The principal executive offices of The LGL Group, Inc. are located at 2525 Shader Road, Orlando, FL 32804.
What is the SIC code for The LGL Group, Inc.?
The Standard Industrial Classification (SIC) code for The LGL Group, Inc. is 3679, which corresponds to ELECTRONIC COMPONENTS, NEC.
Filing Stats: 620 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-04-16 17:07:22
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 LGL NYSE American Warrants to Purc
Filing Documents
- lglg20240410c_8k.htm (8-K) — 30KB
- logo.jpg (GRAPHIC) — 6KB
- 0001437749-24-012205.txt ( ) — 189KB
- lgl-20240416.xsd (EX-101.SCH) — 4KB
- lgl-20240416_def.xml (EX-101.DEF) — 13KB
- lgl-20240416_lab.xml (EX-101.LAB) — 17KB
- lgl-20240416_pre.xml (EX-101.PRE) — 13KB
- lglg20240410c_8k_htm.xml (XML) — 5KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On April 16, 2024, the Board of Directors of The LGL Group, Inc. ("LGL," LGL Group," or the "Company"), by unanimous written consent, appointed Christopher L. Nossokoff, age 34, currently LGL Group's Vice President - Finance, to serve as LGL Group's principal financial officer. Mr. Nossokoff is a graduate of Clemson University, where he earned a Bachelor of Science in Accounting, as well as Indiana University, where he earned a Master of Science in Accounting from the Kelley School of Business. Prior to joining LGL Group in December 2023, Mr. Nossokoff worked for the public accounting firm PricewaterhouseCoopers LLP from 2016 to 2023, public accounting firm Grant Thornton LLP from 2015 to 2016, and public accounting firm Ernst & Young LLP from 2013 to 2015. Mr. Nossokoff replaces James W. Tivy as the Company's principal financial officer. Mr. Tivy resigned as Chief Accounting Officer and principal financial officer effective April 16, 2024. There are no arrangements or understandings between Mr. Nossokoff and any other person pursuant to which he was appointed to serve as the Company's principal financial officer. Mr. Nossokoff has no family relationship with any director or executive officer of the Company, and he has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES 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. THE LGL GROUP, INC. (Registrant) Date: April 16, 2024 By: /s/ Christopher L. Nossokoff Name: Christopher L. Nossokoff Title: Vice President - Finance