MIND TECHNOLOGY Files DEF 14A for FY2025
Ticker: MIND · Form: DEF 14A · Filed: Oct 25, 2024 · CIK: 926423
| Field | Detail |
|---|---|
| Company | Mind Technology, INC (MIND) |
| Form Type | DEF 14A |
| Filed Date | Oct 25, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01, $30,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: proxy-statement, executive-compensation, corporate-governance
TL;DR
MIND TECHNOLOGY's DEF 14A is out, detailing exec pay & governance for FY2025. Vote wisely.
AI Summary
MIND TECHNOLOGY, INC. filed a DEF 14A on October 25, 2024, for the fiscal year ending January 31, 2025. The filing details executive compensation and corporate governance matters. Key information includes the company's address at 2002 Timberloch Place, Suite 550, The Woodlands, TX, and its primary business in Search, Detection, Navigation, and Guidance Systems.
Why It Matters
This filing provides shareholders with crucial information regarding executive compensation and corporate governance, enabling informed voting decisions on company matters.
Risk Assessment
Risk Level: low — This is a routine DEF 14A filing detailing executive compensation and corporate governance, not indicating immediate financial distress or significant operational changes.
Key Numbers
- 0131 — Fiscal Year End (The filing pertains to the fiscal year ending January 31st.)
Key Players & Entities
- MIND TECHNOLOGY, INC. (company) — Filer
- 2002 TIMBERLOCH PLACE, SUITE 550, THE WOODLANDS, TX 77380-1187 (location) — Business Address
- MITCHAM INDUSTRIES INC (company) — Former Company Name
FAQ
What is the primary purpose of a DEF 14A filing?
A DEF 14A filing, also known as a Definitive Proxy Statement, is used to solicit shareholder votes on important corporate matters, such as the election of directors and executive compensation.
When is the fiscal year end for MIND TECHNOLOGY, INC. as indicated in this filing?
The fiscal year end for MIND TECHNOLOGY, INC. is January 31st, as indicated by the 'FISCAL YEAR END: 0131' field.
What is the company's business address?
The company's business address is 2002 Timberloch Place, Suite 550, The Woodlands, TX 77380-1187.
Has MIND TECHNOLOGY, INC. operated under a different name previously?
Yes, the company was formerly known as MITCHAM INDUSTRIES INC, with a date of name change on July 6, 1994.
What is the SIC code for MIND TECHNOLOGY, INC.?
The Standard Industrial Classification (SIC) code for MIND TECHNOLOGY, INC. is 3812, which corresponds to Search, Detection, Navigation, Guidance, Aeronautical Systems.
Filing Stats: 4,712 words · 19 min read · ~16 pages · Grade level 15.6 · Accepted 2024-10-25 16:15:38
Key Financial Figures
- $0.01 — f record of our common stock, par value $0.01 per share, at the close of business on
- $30,000 — ill pay Alliance a fee of approximately $30,000 and reimburse it for certain expenses.
Filing Documents
- mind20241011_def14a.htm (DEF 14A) — 563KB
- card01.jpg (GRAPHIC) — 255KB
- card02.jpg (GRAPHIC) — 207KB
- 0001437749-24-032137.txt ( ) — 2237KB
- mind-20240131.xsd (EX-101.SCH) — 3KB
- mind-20240131_def.xml (EX-101.DEF) — 2KB
- mind-20240131_lab.xml (EX-101.LAB) — 2KB
- mind-20240131_pre.xml (EX-101.PRE) — 1KB
- mind20241011_def14a_htm.xml (XML) — 56KB
Security Ownership of Management
Security Ownership of Management 11 PROPOSAL 1: ELECTION OF DIRECTORS 12 General 12 Information About Director Nominees 12 Board Diversity Matrix 12 INFORMATION ABOUT OUR EXECUTIVE OFFICERS 14
EXECUTIVE COMPENSATION
EXECUTIVE COMPENSATION 15 Summary Compensation Table for Fiscal Year Ended January 31, 2024 15 Narrative Disclosure to Summary Compensation Table 16 Outstanding Equity Awards Value at Fiscal 2024 Year-End Table 19 Pay Versus Performance 19 i Table of Contents DIRECTOR COMPENSATION 20 General 20 Retainer and Fees 20 Equity-Based Compensation 21 PROPOSAL 2: APPROVAL OF FOURTH AMENDMENT TO STOCK AWARDS PLAN 22 Consequences of Failing to Approve the Proposal 22 Summary of the Amended Plan 22 Awards Under the Amended Plan 23 Tax Withholding 24 Amendment and Termination 24 Corporate Events 24 Repricing Prohibited 24 Federal Income Tax Consequences 24 New Plan Benefits and Previously Awarded Options 26 Securities Authorized for Issuance under Equity Compensation Plans 26 Required Vote 26 PROPOSAL 3: ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION 27 Required Vote 27 PROPOSAL 4: ADVISORY VOTE ON THE FREQUENCY OF FUTURE ADVISORY VOTES TO APPROVE NAMED EXECUTIVE COMPENSATION 29 Required Vote 29 PROPOSAL 5: RATIFICATION OF THE SELECTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 30 Required Vote 30 FEES AND EXPENSES OF MOSS ADAMS LLP 31 Audit Committee Pre-Approval Policies and Procedures 31 AUDIT COMMITTEE REPORT 32 2024 ANNUAL REPORT 33 DELINQUENT SECTION 16(A) REPORTS 33 STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS 33 ii Table of Contents MIND TECHNOLOGY, INC. 2002 Timberloch Place Suite 550 The Woodlands, Texas 77380-1187 PROXY STATEMENT FOR VIRTUAL ANNUAL MEETING OF STOCKHOLDERS TO BE HELD DECEMBER 12, 2024 SOLICITATION OF PROXIES Purpose, Place, Date and Time This proxy statement is furnished in connection with the solicitation by the Board of Directors (our "Board") of MIND Technology, Inc., a Delaware corporation (the "Company"), of proxies from the holders of record of our common stock, par value $0.01 per s