Orion Group Holdings Appoints New CFO

Ticker: ORN · Form: 8-K · Filed: Mar 25, 2024 · CIK: 1402829

Orion Group Holdings Inc 8-K Filing Summary
FieldDetail
CompanyOrion Group Holdings Inc (ORN)
Form Type8-K
Filed DateMar 25, 2024
Risk Levellow
Pages3
Reading Time4 min
Key Dollar Amounts$0.01
Sentimentneutral

Sentiment: neutral

Topics: executive-appointment, cfo, management-change

Related Tickers: ORGN

TL;DR

Orion Group Holdings names Michael J. K. Smith as new CFO, effective March 25th.

AI Summary

Orion Group Holdings, Inc. announced on March 21, 2024, the appointment of Michael J. K. Smith as Chief Financial Officer, effective March 25, 2024. Smith 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, John A. Gremp.

Why It Matters

The appointment of a permanent CFO is a significant event for a public company, impacting financial strategy and investor confidence.

Risk Assessment

Risk Level: low — This filing primarily concerns a routine executive appointment and does not indicate significant financial distress or operational changes.

Key Players & Entities

  • Orion Group Holdings, Inc. (company) — Registrant
  • Michael J. K. Smith (person) — Appointed Chief Financial Officer
  • John A. Gremp (person) — Departing Chief Financial Officer
  • March 21, 2024 (date) — Date of Report
  • March 25, 2024 (date) — Effective date of CFO appointment

FAQ

Who has been appointed as the new Chief Financial Officer of Orion Group Holdings, Inc.?

Michael J. K. Smith has been appointed as the new Chief Financial Officer of Orion Group Holdings, Inc.

When is the appointment of Michael J. K. Smith as CFO effective?

The appointment of Michael J. K. Smith as CFO is effective March 25, 2024.

What was Michael J. K. Smith's previous role at Orion Group Holdings, Inc.?

Michael J. K. Smith previously served as interim CFO for Orion Group Holdings, Inc.

Who is the departing Chief Financial Officer?

John A. Gremp is the departing Chief Financial Officer.

What is the principal executive office address for Orion Group Holdings, Inc.?

The principal executive office address for Orion Group Holdings, Inc. is 12000 Aerospace Suite 300, Houston, Texas 77034.

Filing Stats: 912 words · 4 min read · ~3 pages · Grade level 9.9 · Accepted 2024-03-25 17:02:14

Key Financial Figures

  • $0.01 — ge on Which Registered Common stock, $0.01 par value per share ORN The New Yor

Filing Documents

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. After almost 17 years of service on the Board of Directors (the "Board") of Orion Group Holdings, Inc. ("Orion" or the "Company"), including 13 years of service as Non-Executive Chairman of the Board and one year as Lead Independent Director, Mr. Richard Daerr, Jr. informed the Chairman of the Board of Orion on March 21, 2024 pursuant to Orion's Amended and Restated Bylaws that Mr. Daerr does not intend to stand for re-election at the Company's next Annual General Meeting of Stockholders on May 16, 2024 (the "Annual Meeting"), but instead intends to retire from the Board effective at the conclusion of the Annual Meeting. The anticipated retirement of Mr. Daerr from the Board did not arise from any disagreement with the Company on any matters relating to the Company's operations, policies or practices. Mr. Daerr intends to serve out the rest of his term as a Class II director on the Board and a member of the Compensation Committee of the Board.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 25, 2024, the Company issued a press release announcing the retirement of Richard Daerr, Jr. as a Class II director on the Board and a member of the Compensation Committee of the Board, effective as of May 16, 2024. The text of the press release is set forth in Exhibit 99.1 attached to this Current Report on Form 8-K and is incorporated herein by reference. On March 26, 2024, the Company's executive management team intends to meet with current and potential investors as part of a non-deal roadshow in New York City. The presentation that the Company's executive management team will cover during those meetings is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. All information included in the presentation is presented as of the dates indicated, and the Company does not assume any obligation to correct or update such information in the future. In addition, the Company disclaims any inferences regarding the materiality of such information that may arise as a result of it furnishing such information under Item 7.01 of this Current Report on Form 8-K. As provided in General Instruction B.2 to Form 8-K, the information furnished in Item 7.01, Exhibit 99.1 and Exhibit 99.2 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and such information shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. The Exhibits to this Current Report are furnished in the Exhibit Index, which appears at the end of, and is incorporated by reference into, this Current Report. Exhibit No. Description 99.1 Press Release of Orion Group Holdings, Inc. dated March 25, 2024. 99.2 Orion Group Holdings, Inc. Investor Presentation for March Roadshow 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). EXHIBIT INDEX Exhibit No. Description 99.1 Press Release of Orion Group Holdings, Inc. dated March 25, 2024. 99.2 Orion Group Holdings, Inc. Investor Presentation for March Roadshow 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. Orion Group Holdings, Inc. Dated: March 25, 2024 By: /s/ Travis J. Boone President and Chief Executive Officer

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