Powell Industries Reports Officer Changes & Shareholder Vote
Ticker: POWL · Form: 8-K · Filed: Feb 15, 2024 · CIK: 80420
| Field | Detail |
|---|---|
| Company | Powell Industries Inc (POWL) |
| Form Type | 8-K |
| Filed Date | Feb 15, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: officer-changes, governance, compensatory-arrangements
Related Tickers: POWL
TL;DR
🚨 **POWL filed an 8-K reporting officer changes and a shareholder vote on Feb 13th, details pending.**
AI Summary
POWELL INDUSTRIES INC filed an 8-K on February 15, 2024, reporting events that occurred on February 13, 2024. The filing indicates changes related to the departure or appointment of directors and officers, along with compensatory arrangements for certain officers. Additionally, it reports on matters submitted to a vote of security holders, as per Items 5.02 and 5.07 of Form 8-K.
Why It Matters
Changes in executive leadership and compensatory arrangements can signal strategic shifts or impact company morale, while shareholder votes reflect investor sentiment and governance decisions.
Risk Assessment
Risk Level: medium — While the filing itself is procedural, the specific details of officer changes or compensatory arrangements, which are not provided in this excerpt, could carry significant risk or opportunity.
Key Players & Entities
- POWELL INDUSTRIES INC (company) — Registrant
- Delaware (company) — State of incorporation
- Houston (company) — Business address city
FAQ
What company filed this 8-K?
POWELL INDUSTRIES, INC. (POWL) filed this 8-K.
What was the date of the earliest event reported in this filing?
The earliest event reported in this filing occurred on February 13, 2024.
What types of events were reported under Item 5.02?
Item 5.02 reported the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; and Compensatory Arrangements of Certain Officers.
What other item was reported in this 8-K?
Item 5.07, Submission of Matters to a Vote of Security Holders, was also reported.
What is the Registrant's business phone number?
The Registrant's business phone number is (713) 944-6900.
Filing Stats: 687 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-02-15 16:48:20
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share POWL Nasdaq Global Market I
Filing Documents
- powl-20240213.htm (8-K) — 34KB
- 0000080420-24-000014.txt ( ) — 157KB
- powl-20240213.xsd (EX-101.SCH) — 2KB
- powl-20240213_lab.xml (EX-101.LAB) — 23KB
- powl-20240213_pre.xml (EX-101.PRE) — 12KB
- powl-20240213_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, the Company's stockholders: (i) re-elected James W. McGill and elected Mohit Singh as directors of the Company, each with a term scheduled to expire in fiscal year 2027 or until his successor is duly elected and qualified; and (ii) approved, on an advisory basis, the Company's "say-on-pay" proposal relating to the compensation paid to the Company's named executive officers and the related compensation discussion and analysis contained in the Company's Definitive Proxy Statement on Schedule 14A for the Annual Meeting filed by the Company with the Securities and Exchange Commission on January 5, 2024 (the "Proxy Statement"). The other directors of the Company continuing in office are Brett A. Cope, Alaina K. Brooks, Christopher E. Cragg, Katheryn B. Curtis, John G. Stacey and Richard E. Williams. The following describes the results of the voting at the Annual Meeting, the proposals for which are described in more detail in the Proxy Statement: Proposal No. 1: Election of directors Nominee Votes Cast For Votes Cast Against Votes Withheld/Abstentions Broker Non-Votes James W. McGill 9,840,163 — 229,948 — Mohit Singh 10,046,799 — 23,312 — Proposal No. 2: "Say-on-Pay" advisory vote Votes Cast For Votes Cast Against Votes Withheld/Abstentions Broker Non-Votes 9,969,638 87,381 13,092 —
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POWELL INDUSTRIES, INC. Date: February 15, 2024 By: /s/ Michael W. Metcalf Michael W. Metcalf Executive Vice President Chief Financial Officer (Principal Financial Officer)