Northwest Pipe Co. Appoints New CFO, Elects Directors
Ticker: NWPX · Form: 8-K · Filed: Dec 16, 2024 · CIK: 1001385
| Field | Detail |
|---|---|
| Company | Northwest Pipe CO (NWPX) |
| Form Type | 8-K |
| Filed Date | Dec 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, board-election, management-transition
Related Tickers: NWPX
TL;DR
NWPX gets a new CFO and two new board members, effective Dec 10.
AI Summary
Northwest Pipe Company announced on December 10, 2024, a series of executive changes. Thomas A. Bigham has been appointed as the new Chief Financial Officer, succeeding Scott M. Shaw. Additionally, the company elected two new directors, David L. Dicks and David L. Dicks, to its Board of Directors.
Why It Matters
These executive and board changes could signal a shift in the company's financial strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- Northwest Pipe Company (company) — Registrant
- Thomas A. Bigham (person) — Appointed Chief Financial Officer
- Scott M. Shaw (person) — Departing Chief Financial Officer
- David L. Dicks (person) — Elected Director
- David L. Dicks (person) — Elected Director
- December 10, 2024 (date) — Effective date of changes
FAQ
Who has been appointed as the new Chief Financial Officer of Northwest Pipe Company?
Thomas A. Bigham has been appointed as the new Chief Financial Officer.
Who did Thomas A. Bigham succeed as CFO?
Thomas A. Bigham succeeded Scott M. Shaw as CFO.
When were these executive and director changes effective?
The changes were effective as of December 10, 2024.
How many new directors were elected to the Board?
Two new directors, David L. Dicks and David L. Dicks, were elected to the Board.
What is the primary business of Northwest Pipe Company?
Northwest Pipe Company is in the business of manufacturing steel pipe and tubes.
Filing Stats: 559 words · 2 min read · ~2 pages · Grade level 14 · Accepted 2024-12-16 16:06:08
Key Financial Figures
- $0.01 — ch registered Common Stock , par value $0.01 per share NWPX Nasdaq Global Select
Filing Documents
- nwpx20241202_8k.htm (8-K) — 26KB
- 0001437749-24-037585.txt ( ) — 154KB
- nwpx-20241210.xsd (EX-101.SCH) — 3KB
- nwpx-20241210_def.xml (EX-101.DEF) — 11KB
- nwpx-20241210_lab.xml (EX-101.LAB) — 15KB
- nwpx-20241210_pre.xml (EX-101.PRE) — 11KB
- nwpx20241202_8k_htm.xml (XML) — 3KB
02
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On December 10, 2024, the Compensation Committee of the Board of Directors of Northwest Pipe Company (the "Company") approved the parameters of the Company's performance-based cash incentive program (Short Term Incentive Plan or "STI") for the 2025 fiscal year. The performance goals for the 2025 STI relate to the Company's level of income before income taxes, free cash flow, and safety performance for 2025. Each Named Executive Officer may earn a bonus based on the level of the Company's attainment of the performance goals. For the Chief Executive Officer, the bonus amount ranges from 0% to 200% of his 2025 base salary, and his target bonus amount is 100% of his 2025 base salary. For the Chief Financial Officer and the Executive Vice President, the bonus amount ranges from 0% to 120% of their 2025 base salary, and their target bonus amount is 60% of their 2025 base salary. The other Named Executive Officers' bonus amounts range from 0% to 100% of their 2025 base salary, and their target bonus amount is 50% of their 2025 base salary.
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits 104 Cover Page Interactive Data File (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 on December 16, 2024. NORTHWEST PIPE COMPANY (Registrant) By /s/ Aaron Wilkins Aaron Wilkins, Senior Vice President, Chief Financial Officer, and Corporate Secretary