Powell Industries Inc. Files Definitive Proxy Statement (DEF 14A)

TL;DR

<b>Powell Industries Inc. filed its Definitive Proxy Statement (DEF 14A) on January 5, 2024, detailing executive compensation and corporate governance matters.</b>

AI Summary

POWELL INDUSTRIES INC (POWL) filed a Proxy Statement (DEF 14A) with the SEC on January 5, 2024. Powell Industries Inc. filed a Definitive Proxy Statement (DEF 14A) on January 5, 2024. The filing covers the period ending February 14, 2024. The company's fiscal year ends on September 30. Powell Industries Inc. is incorporated in Nevada. The company's SIC code is 3613 for Switchgear & Switchboard Apparatus.

Why It Matters

For investors and stakeholders tracking POWELL INDUSTRIES INC, this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it outlines proposals to be voted on at the annual meeting, including the election of directors and executive compensation plans. Understanding the details of executive compensation and stock awards, as presented in this filing, can provide insights into management's alignment with shareholder interests and the company's financial health.

Risk Assessment

Risk Level: low — POWELL INDUSTRIES INC shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not contain immediate financial or operational performance data that would indicate high risk.

Analyst Insight

Shareholders should review the proxy statement to understand executive compensation, director nominations, and any other proposals requiring a vote at the upcoming annual meeting.

Key Numbers

• 2024-01-05 — Filing Date (DEF 14A Filing Date)
• 2024-02-14 — Period of Report (Conformed Period of Report)
• 0930 — Fiscal Year End (Fiscal Year End)
• 3613 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• POWELL INDUSTRIES INC (company) — Filer
• 8550 MOSLEY DR (address) — Business Address
• HOUSTON (location) — Business Address City
• TX (location) — Business Address State
• 77075 (postal_code) — Business Address Zip
• PROCESS SYSTEMS INC (company) — Former Company Name

FAQ

Industry Context

Powell Industries Inc. operates in the Switchgear & Switchboard Apparatus industry (SIC 3613).

Regulatory Implications

The filing is a DEF 14A, a standard disclosure document required by the SEC under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the detailed executive compensation breakdown in the proxy statement.
2. Understand the proposals being presented for shareholder vote, including director elections.
3. Assess any changes in corporate governance practices outlined in the filing.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure and does not directly compare financial performance to a prior filing.

Filing Documents

• ny20014314x1_def14a.htm (DEF 14A) — 1088KB
• ny20014314x1_barchart01x1.jpg (GRAPHIC) — 129KB
• ny20014314x1_barchart02x1.jpg (GRAPHIC) — 108KB
• ny20014314x1_barchart03x1.jpg (GRAPHIC) — 108KB
• ny20014314x1_pc01.jpg (GRAPHIC) — 620KB
• ny20014314x1_pc02.jpg (GRAPHIC) — 366KB
• 0001140361-24-001009.txt (&nbsp;) — 5164KB
• powl-20240214.xsd (EX-101.SCH) — 5KB
• powl-20240214_def.xml (EX-101.DEF) — 6KB
• powl-20240214_lab.xml (EX-101.LAB) — 41KB
• powl-20240214_pre.xml (EX-101.PRE) — 25KB
• ny20014314x1_def14a_htm.xml (XML) — 215KB

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 19 EXECUTIVE OFFICERS 21

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 22 COMPENSATION DISCUSSION AND ANALYSIS 22 COMPENSATION COMMITTEE REPORT 34

EXECUTIVE COMPENSATION TABLES

EXECUTIVE COMPENSATION TABLES 35 PAY VERSUS PERFORMANCE 45 COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION. 48 AUDIT COMMITTEE REPORT 49 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 50 DELINQUENT SECTION 16(A) REPORTS 51 OTHER MATTERS 51 ANNUAL REPORT 51 STOCKHOLDER PROPOSALS 52 TABLE OF CONTENTS POWELL INDUSTRIES, INC. 8550 Mosley Road Houston, Texas 77075 PROXY STATEMENT January 5, 2024 Annual Meeting of Stockholders February 14, 2024 SOLICITATION AND VOTING RIGHTS The accompanying proxy is solicited by the Board of Directors (the "Board") of Powell Industries, Inc., a Delaware corporation (the "Company"), for use at the Annual Meeting of Stockholders of the Company (the "Annual Meeting") to be held online via webcast at www.virtualshareholdermeeting.com/POWL2024 on Wednesday, February 14, 2024, at 11:00 a.m., Houston time, or at any adjournment thereof. This Proxy Statement, proxy and the accompanying Notice of Annual Meeting and Annual Report on Form 10-K for the fiscal year ended September 30, 2023, including consolidated financial statements, will be mailed to stockholders on or about January 5, 2024. The Board has fixed January 2, 2024, as the record date for determination of stockholders entitled to receive notice of and to vote at the Annual Meeting. As of January 2, 2024, there were 11,959,918 shares of the Company's common stock, par value $.01 per share ("Common Stock"), outstanding. Each holder of Common Stock will be entitled to one vote for each share owned, except as noted below. The Annual Meeting will be a virtual meeting, conducted exclusively via audio webcast at www.virtualshareholdermeeting.com/POWL2024, where you will be able to listen to the meeting, submit questions, and vote online. There will not be a physical location for the Annual Meeting, and you will not be able to attend the meeting in person. If you are a stockholder of record, you may virtually attend the Annual Me

View Full Filing

View this DEF 14A filing on SEC EDGAR