RCM Technologies Reports Executive Changes and Compensation on Feb 16
Ticker: RCMT · Form: 8-K · Filed: Feb 16, 2024 · CIK: 700841
| Field | Detail |
|---|---|
| Company | Rcm Technologies, INC. (RCMT) |
| Form Type | 8-K |
| Filed Date | Feb 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.05 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, compensatory-arrangements
TL;DR
**RCM Technologies just announced executive changes and new pay deals, keep an eye on how this impacts their future.**
AI Summary
RCM Technologies, Inc. filed an 8-K on February 16, 2024, reporting on the departure of directors or certain officers and the election or appointment of certain officers, along with compensatory arrangements for these officers. The filing indicates an event date of February 16, 2024, and was submitted to the SEC under file number 001-10245.
Why It Matters
Changes in executive leadership and compensation structures can significantly impact a company's strategic direction and financial performance, influencing investor confidence.
Risk Assessment
Risk Level: medium — Changes in executive leadership can introduce uncertainty regarding future company strategy and performance, posing a medium risk.
Key Players & Entities
- RCM Technologies, Inc. (company) — Registrant
- Nevada (company) — State of Incorporation
- February 16, 2024 (date) — Date of earliest event reported
- 001-10245 (string) — Commission File Number
- 95-1480559 (string) — I.R.S. Employer Identification No.
- 2500 McClellan Avenue, Suite 350, Pennsauken, NJ 08109-4613 (string) — Address of Principal Executive Offices
- 856-356-4500 (string) — Registrant's telephone number
FAQ
What is the exact name of the registrant as specified in its charter?
The exact name of the registrant as specified in its charter is RCM Technologies, Inc.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is February 16, 2024.
What is the Commission File Number for RCM Technologies, Inc.?
The Commission File Number for RCM Technologies, Inc. is 1-10245.
Where are the principal executive offices of RCM Technologies, Inc. located?
The principal executive offices of RCM Technologies, Inc. are located at 2500 McClellan Avenue, Suite 350, Pennsauken, NJ 08109-4613.
What is the telephone number for RCM Technologies, Inc.?
The telephone number for RCM Technologies, Inc. is (856) 356-4500.
Filing Stats: 576 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-02-16 16:19:56
Key Financial Figures
- $0.05 — ch registered Common Stock , par value $0.05 per share RCMT The NASDAQ Stock Mark
Filing Documents
- rcmt20240216_8k.htm (8-K) — 29KB
- 0001437749-24-004578.txt ( ) — 157KB
- rcmt-20240216.xsd (EX-101.SCH) — 3KB
- rcmt-20240216_def.xml (EX-101.DEF) — 11KB
- rcmt-20240216_lab.xml (EX-101.LAB) — 15KB
- rcmt-20240216_pre.xml (EX-101.PRE) — 11KB
- rcmt20240216_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 February 16, 2024, the Compensation Committee of the Board of Directors of RCM Technologies, Inc. (the "Company") approved a grant under the Company's 2014 Omnibus Equity Compensation Plan, as amended and restated, of a target amount of 250,000 performance stock units ("PSUs"), allocated into four equal tranches over a four-year period, to Bradley S. Vizi, the Company's Executive Chairman and President. The number of PSUs that will ultimately be earned and vested shall be determined based on the level of achievement with respect to certain individual performance goals established by the Compensation Committee, with 25% of such PSUs to vest with respect to achievement measured on an annual basis as to each of the Company's 2024, 2025, 2026 and 2027 fiscal years. Threshold, target and maximum levels of performance have been established, with the following number of PSUs to be earned in each fiscal year with respect to the level of achievement during such fiscal year: threshold – 25,000; target – 50,000; maximum – 62,500. The grant is subject to accelerated vesting in the event of a Change in Control (as defined in the 2014 Plan), or termination as a result of death or disability, prior to the end of any applicable performance period.
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. RCM TECHNOLOGIES, INC. By: /s/ Kevin D. Miller Kevin D. Miller Chief Financial Officer, Treasurer and Secretary Dated: February 16, 2024