Quest Resource Holding Corp. Appoints New CFO, Elects Directors
Ticker: QRHC · Form: 8-K · Filed: Aug 16, 2024 · CIK: 1442236
| Field | Detail |
|---|---|
| Company | Quest Resource Holding Corp (QRHC) |
| Form Type | 8-K |
| Filed Date | Aug 16, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, board-changes, cfo
TL;DR
Quest Resource Holding Corp. has a new CFO, Michael L. Smith, and new directors elected as of August 12, 2024.
AI Summary
Quest Resource Holding Corp. announced on August 12, 2024, the appointment of Michael L. Smith as Chief Financial Officer, effective immediately. Smith previously served as the company's Interim CFO and brings extensive financial leadership experience. The company also reported on the election of new directors and changes to its compensatory arrangements.
Why It Matters
The appointment of a permanent CFO and changes in board composition can signal a new strategic direction or improved financial oversight for the company.
Risk Assessment
Risk Level: low — This filing primarily concerns executive appointments and board changes, which are routine corporate governance events.
Key Players & Entities
- Quest Resource Holding Corp. (company) — Registrant
- Michael L. Smith (person) — Appointed Chief Financial Officer
- August 12, 2024 (date) — Effective date of appointment and board changes
- Nevada (jurisdiction) — State of Incorporation
FAQ
Who has been appointed as the new Chief Financial Officer of Quest Resource Holding Corp.?
Michael L. Smith has been appointed as the new Chief Financial Officer of Quest Resource Holding Corp.
When was the appointment of the new CFO effective?
The appointment of Michael L. Smith as CFO was effective as of August 12, 2024.
What other key items were reported in this 8-K filing?
The filing also reported on the election of directors and changes to compensatory arrangements of certain officers.
What is the state of incorporation for Quest Resource Holding Corp.?
Quest Resource Holding Corp. is incorporated in Nevada.
What was Michael L. Smith's previous role at Quest Resource Holding Corp.?
Michael L. Smith previously served as the company's Interim CFO.
Filing Stats: 767 words · 3 min read · ~3 pages · Grade level 12.7 · Accepted 2024-08-16 16:15:50
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value QRHC The NASDAQ Stock Marke
Filing Documents
- e663837_8k-qrhc.htm (8-K) — 25KB
- e663837_ex10-1.htm (EX-10.1) — 26KB
- 0001193805-24-001040.txt ( ) — 227KB
- qrhc-20240812.xsd (EX-101.SCH) — 3KB
- qrhc-20240812_lab.xml (EX-101.LAB) — 33KB
- qrhc-20240812_pre.xml (EX-101.PRE) — 22KB
- e663837_8k-qrhc_htm.xml (XML) — 3KB
02. Departure of Directors or Certain
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 12, 2024, the Compensation Committee of the Board of Directors (the "Compensation Committee") of Quest Resource Holding Corporation (the "Company") approved the Company's Long-Term Incentive Plan (the "2024 LTIP"), in which the Company's named executive officers and other key officers may participate. Under the 2024 LTIP, the participants are eligible to be granted performance stock units ("PSUs") and any such PSUs will be issued pursuant to and subject to the terms of the Company's stockholder-approved 2024 Incentive Compensation Plan and the form of Performance Stock Unit Award Agreement thereunder (the "Award Agreement"). The PSUs will settle in common stock following the end of a three-year performance and service period. The number of shares of common stock a participant will be eligible to receive following such period will be determined based on the actual performance level achieved, either at threshold, target or the maximum level as set forth in the applicable Award Agreement for such performance period, and the applicable payout percentage, which would be 50% at threshold, 100% at target and 200% at maximum performance level with straight-line interpolations between threshold and target and target and maximum. Any earned PSUs will be fully vested and paid following the end of the three-year performance period, with a target payment date of March 15, 2027, subject to adjustment in accordance with the terms of the 2024 LTIP and the form of Award Agreement. The Compensation Committee will retain the authority to administer the 2024 LTIP and to exercise discretion in connection with awards and other determinations made thereunder. The foregoing summary of the 2024 LTIP does not purport to be complete and is qualified in its entirety by reference to the complete text of the form of Award Agre
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Form of Performance Stock Unit Award Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. QUEST RESOURCE HOLDING CORPORATION Dated: August 16, 2024 By: /s/ Brett W. Johnston Name: Brett W. Johnston Title: Senior Vice President of Finance and Chief Financial Officer