MYR Group Appoints New CFO, David R. Johnson
Ticker: MYRG · Form: 8-K · Filed: Apr 29, 2024 · CIK: 700923
| Field | Detail |
|---|---|
| Company | Myr Group INC. (MYRG) |
| Form Type | 8-K |
| Filed Date | Apr 29, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 7 min |
| Key Dollar Amounts | $0.01, $400,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, management-change
Related Tickers: PWR
TL;DR
MYR Group brings back ex-CFO David Johnson to lead finance, replacing Philip Keefe.
AI Summary
MYR Group Inc. announced on April 29, 2024, that its Board of Directors has appointed David R. Johnson as the new Chief Financial Officer, effective April 24, 2024. Johnson will also serve as Executive Vice President. He previously held the CFO position at MYR Group from 2010 to 2017 and returns after serving as CFO of Quanta Services, Inc. The company also announced the departure of its previous CFO, Philip A. Keefe.
Why It Matters
The appointment of a new CFO can signal a shift in financial strategy or management focus, impacting investor confidence and the company's financial performance.
Risk Assessment
Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategy and operational execution.
Key Players & Entities
- MYR Group Inc. (company) — Registrant
- David R. Johnson (person) — Appointed Chief Financial Officer and Executive Vice President
- April 24, 2024 (date) — Effective date of CFO appointment
- Philip A. Keefe (person) — Departing Chief Financial Officer
- Quanta Services, Inc. (company) — Previous employer of David R. Johnson
- April 29, 2024 (date) — Date of report filing
FAQ
Who has been appointed as the new Chief Financial Officer of MYR Group Inc.?
David R. Johnson has been appointed as the new Chief Financial Officer of MYR Group Inc.
When is the appointment of David R. Johnson as CFO effective?
The appointment of David R. Johnson as CFO is effective April 24, 2024.
What other role will David R. Johnson hold at MYR Group Inc.?
David R. Johnson will also serve as Executive Vice President at MYR Group Inc.
Who is the previous CFO of MYR Group Inc. that David R. Johnson is replacing?
David R. Johnson is replacing Philip A. Keefe, the previous CFO.
Has David R. Johnson held a CFO position at MYR Group Inc. before?
Yes, David R. Johnson previously served as CFO of MYR Group Inc. from 2010 to 2017.
Filing Stats: 1,636 words · 7 min read · ~5 pages · Grade level 13.3 · Accepted 2024-04-29 16:02:05
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value MYRG The Nasdaq Stock Market,
- $400,000 — ancial reporting purposes) in excess of $400,000. The Amended and Restated Plan permits
Filing Documents
- myrg-20240424.htm (8-K) — 50KB
- a2017long-termincentivepla.htm (EX-10.1) — 136KB
- 0000700923-24-000024.txt ( ) — 344KB
- myrg-20240424.xsd (EX-101.SCH) — 2KB
- myrg-20240424_lab.xml (EX-101.LAB) — 22KB
- myrg-20240424_pre.xml (EX-101.PRE) — 13KB
- myrg-20240424_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting on April 24, 2024, the Company's stockholders considered four proposals, each of which is described in more detail in the Company's 2024 Definitive Proxy Statement, filed with the Securities and Exchange Commission on March 6, 2024. The matters voted upon at the Annual Meeting and the results of the votes were as follows: Proposal 1. Election of Two Class II Director Nominees for Two Year Terms. The stockholders elected two Class II director nominees, Donald C.I. Lucky and Shirin O'Connor, each to serve a two-year term expiring at the 2026 Annual Meeting of Stockholders or until his or her successor has been duly elected and qualified. Votes For Votes Against Abstentions Broker Non-Votes Donald C.I. Lucky 12,243,808 2,075,611 9,191 867,798 Shirin O'Connor 13,964,159 355,048 9,403 867,798 Each of the following Class I and Class III directors will continue to hold office until his or her respective term expires: Kenneth M. Hartwick, Jennifer E. Lowry, Richard S. Swartz, Bradley T. Favreau, Ajoy H. Karna and William D. Patterson. Proposal 2. Advisory Approval of the Compensation of Our Named Executive Officers. The stockholders approved the resolution on executive compensation. Votes For Votes Against Abstentions Broker Non-Votes 13,503,303 806,389 18,918 867,798 Proposal 3. Approval of the MYR Group Inc. 2017 Long-Term Incentive Plan (amended and restated as of April 24, 2024). The stockholders approved the Amended and Restated Plan (as further described above). Votes For Votes Against Abstentions Broker Non-Votes 13,483,323 826,574 18,713 867,798 Proposal 4. Ratification of the Appointment of Our Independent Registered Public Accounting Firm. The stockholders ratified the appointment of Crowe LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2024. Votes For Votes Against Abstentions 15,029,948 148,147 18,313
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) The following exhibits are being filed with this Current Report on Form 8-K. 10.1 MYR Group Inc. 2017 Long-Term Incentive Plan (Amended and Restated as of April 24, 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 hereunto duly authorized. MYR GROUP INC. Dated: April 29, 2024 By: /s/ WILLIAM F. FRY Name: William F. Fry Title: Senior Vice President, Chief Legal Officer and Secretary