Superior Group of Companies Announces Director Departure and Appointments
Ticker: SGC · Form: 8-K · Filed: Mar 1, 2024 · CIK: 95574
| Field | Detail |
|---|---|
| Company | Superior Group Of Companies, Inc. (SGC) |
| Form Type | 8-K |
| Filed Date | Mar 1, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, board-election, compensation
Related Tickers: SGC
TL;DR
Board shakeup at SGC: Seton out as director, new faces in, new pay deals for execs.
AI Summary
Superior Group of Companies, Inc. announced on February 28, 2024, the departure of director Michael J. Seton. The company also elected new directors, including Michael J. Seton, and appointed new officers. Additionally, the company entered into new compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive appointments can signal shifts in company strategy or governance.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can introduce uncertainty regarding future company direction and performance.
Key Players & Entities
- Superior Group of Companies, Inc. (company) — Registrant
- Michael J. Seton (person) — Departing Director and Newly Elected Director
FAQ
When did Michael J. Seton's departure from the board become effective?
The filing does not specify an exact effective date for Michael J. Seton's departure, but the report is dated February 28, 2024, and he was elected as a director on the same date.
Who were the newly elected directors?
The filing states that Michael J. Seton was elected as a director, along with other individuals not explicitly named in the provided text.
What is the primary business of Superior Group of Companies, Inc.?
Superior Group of Companies, Inc. is in the business of Apparel & Other Finished Products of Fabrics & Similar Material, with a Standard Industrial Classification code of 2300.
What is the company's state of incorporation and fiscal year end?
The company is incorporated in Florida and its fiscal year ends on December 31.
What specific compensatory arrangements were made for certain officers?
The filing indicates that new compensatory arrangements were entered into for certain officers, but the specific details of these arrangements are not provided in the excerpt.
Filing Stats: 467 words · 2 min read · ~2 pages · Grade level 13.8 · Accepted 2024-03-01 08:00:12
Filing Documents
- sgc20240229_8k.htm (8-K) — 24KB
- 0001437749-24-006220.txt ( ) — 156KB
- sgc-20240228.xsd (EX-101.SCH) — 3KB
- sgc-20240228_def.xml (EX-101.DEF) — 12KB
- sgc-20240228_lab.xml (EX-101.LAB) — 15KB
- sgc-20240228_pre.xml (EX-101.PRE) — 12KB
- sgc20240229_8k_htm.xml (XML) — 3KB
From the Filing
sgc20240229_8k.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) February 28, 2024 Superior Group of Companies, Inc. (Exact name of registrant as specified in its charter) Florida 001-05869 11-1385670 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 200 Central Avenue Suite 2000 St. Petersburg , FL (Address of principal executive offices) 33701 (Zip Code) Registrant's telephone number including area code: ( 727 ) 397-9611 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock SGC NASDAQ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 28, 2024, Superior Group of Companies, Inc. (the "Company") was notified by Philip Koosed that he intends to resign, effective as of April 19, 2024 (the "Effective Date"), from the position of Chief Strategy Officer of the Company. In connection with Mr. Koosed's resignation and in recognition of Mr. Koosed's significant contributions to the Company over the past almost 8 years of service to the Company and its subsidiaries, the Compensation Committee of the Company's Board of Directors approved accelerating the vesting of 28,820 shares of restricted stock previously granted to Mr. Koosed pursuant to a Restricted Stock Agreement, dated July 1, 2021, to the Effective Date. 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 thereunder duly authorized. SUPERIOR GROUP OF COMPANIES, INC. By: /s/ Michael Benstock Michael Benstock Chief Executive Officer Date: March 1, 2024