Mastech Digital Appoints New CFO, Elects Directors
Ticker: MHH · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1437226
| Field | Detail |
|---|---|
| Company | Mastech Digital, INC. (MHH) |
| Form Type | 8-K |
| Filed Date | Dec 16, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $1,000,000, $500,000, $2,000,000, $0.01, $300,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, board-changes, cfo
Related Tickers: MDS
TL;DR
Mastech Digital names Michael Stark as new CFO, effective immediately. Board changes also announced.
AI Summary
Mastech Digital, Inc. announced on December 10, 2024, the appointment of Michael L. Stark as Chief Financial Officer, effective immediately. Stark previously served as Interim CFO and brings extensive financial leadership experience to the role. The company also reported on the departure of its previous CFO, G. Robert Duncan, and the election of new directors.
Why It Matters
The appointment of a permanent CFO is a significant leadership change that can impact financial strategy and investor confidence. The election of new directors also signals potential shifts in corporate governance.
Risk Assessment
Risk Level: medium — Changes in key executive positions and board composition can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- Mastech Digital, Inc. (company) — Registrant
- Michael L. Stark (person) — Appointed Chief Financial Officer
- G. Robert Duncan (person) — Departing Chief Financial Officer
- December 10, 2024 (date) — Effective date of CFO appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Mastech Digital, Inc.?
Michael L. Stark has been appointed as the new Chief Financial Officer of Mastech Digital, Inc.
When was Michael L. Stark's appointment as CFO effective?
Michael L. Stark's appointment as CFO was effective immediately as of December 10, 2024.
Who previously held the position of Chief Financial Officer at Mastech Digital, Inc.?
G. Robert Duncan previously held the position of Chief Financial Officer at Mastech Digital, Inc.
What other significant corporate governance changes were reported by Mastech Digital, Inc.?
Mastech Digital, Inc. also reported on the election of directors.
What is Mastech Digital, Inc.'s state of incorporation?
Mastech Digital, Inc. is incorporated in Pennsylvania.
Filing Stats: 2,344 words · 9 min read · ~8 pages · Grade level 12.6 · Accepted 2024-12-16 07:54:28
Key Financial Figures
- $1,000,000 — Mr. Patel will receive a base salary of $1,000,000 per year commencing on the Effective Da
- $500,000 — annual performance-based cash bonus of $500,000 for the achievement of certain financia
- $2,000,000 — el will receive a cash signing bonus of $2,000,000, less applicable withholdings, within 3
- $0.01 — f the Company's common stock, par value $0.01 per share (the "Common Stock") for a pe
- $300,000,000 — Stock Option Agreement) is greater than $300,000,000; (vi) 87,795 shares will vest on the
- $450,000,000 — e Market Capitalization is greater than $450,000,000; and (vii) 87,795 shares will vest o
- $600,000,000 — e Market Capitalization is greater than $600,000,000. Notwithstanding the foregoing schedu
Filing Documents
- d848286d8k.htm (8-K) — 43KB
- d848286dex101.htm (EX-10.1) — 178KB
- d848286dex102.htm (EX-10.2) — 78KB
- d848286dex991.htm (EX-99.1) — 10KB
- g848286g1213033202231.jpg (GRAPHIC) — 2KB
- 0001193125-24-279042.txt ( ) — 507KB
- mhh-20241210.xsd (EX-101.SCH) — 3KB
- mhh-20241210_lab.xml (EX-101.LAB) — 18KB
- mhh-20241210_pre.xml (EX-101.PRE) — 11KB
- d848286d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Executive Employment Agreement, made as of November 1, 2024, by and among Mastech Digital, Inc., Mastech Digital Technologies, Inc. and Nirav Patel 10.2 Mastech Digital, Inc. 2024 Inducement Stock Incentive Plan 99.1 Press Release issued by Mastech Digital, Inc. on December 16, 2024 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. MASTECH DIGITAL, INC. By: /s/ John J. Cronin, Jr. Name: John J. Cronin, Jr. Title: Chief Financial Officer December 16, 2024