Sono-Tek 8-K Signals Leadership, Compensation Changes

TL;DR

**Sono-Tek filed an 8-K hinting at executive changes and pay adjustments; watch for details.**

AI Summary

Sono-Tek Corporation filed an 8-K on January 5, 2024, reporting events as of December 31, 2023, related to changes in directors or officers and their compensation arrangements. This filing indicates potential shifts in leadership or executive compensation, which could impact the company's strategic direction and financial performance. Investors should monitor subsequent filings for specific details on these changes, as they could signal new initiatives or cost adjustments that affect the stock's future value.

Why It Matters

Changes in leadership and executive compensation can significantly influence a company's future strategy, operational efficiency, and financial health, directly impacting shareholder value.

Risk Assessment

Risk Level: medium — The filing indicates changes in leadership and compensation, which can introduce uncertainty regarding future company direction and stability, warranting a medium risk assessment.

Analyst Insight

A smart investor would monitor Sono-Tek's subsequent filings and news releases for specific details on the reported executive and compensation changes to assess their potential impact on the company's future performance and stock value.

Key Numbers

• $0.01 — par value per share (par value of Sono-Tek's Common Stock)

Key Players & Entities

• Sono-Tek Corporation (company) — the registrant filing the 8-K
• December 31, 2023 (date) — date of earliest event reported
• January 5, 2024 (date) — date the 8-K was filed
• NASDAQ (company) — exchange where Sono-Tek's Common Stock is registered
• $0.01 (dollar_amount) — par value per share of Common Stock

Forward-Looking Statements

• Sono-Tek will provide more specific details regarding the executive changes and compensation arrangements in a subsequent filing or press release. (Sono-Tek Corporation) — high confidence, target: Q1 2024
• The market will react to the specifics of the executive changes, potentially causing short-term stock volatility for SOTK. (SOTK) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share SOTK NASDAQ Ind
• $265,000 — tential Bonus R. Stephen Harshbarger $265,000 $45,000 Christopher L. Coccio $160,
• $45,000 — nus R. Stephen Harshbarger $265,000 $45,000 Christopher L. Coccio $160,000 $39,
• $160,000 — 5,000 $45,000 Christopher L. Coccio $160,000 $39,000 Stephen J. Bagley $185,000
• $39,000 — ,000 Christopher L. Coccio $160,000 $39,000 Stephen J. Bagley $185,000 $37,000
• $185,000 — $160,000 $39,000 Stephen J. Bagley $185,000 $37,000 The potential bonus is based
• $37,000 — $39,000 Stephen J. Bagley $185,000 $37,000 The potential bonus is based on the C
• $18,470,000 — d on the Company's achieving revenue of $18,470,000 and operating income of $1,121,000 for
• $1,121,000 — of $18,470,000 and operating income of $1,121,000 for the 2024 fiscal year. Item 9.01:

Filing Documents

• eps11084.htm (8-K) — 25KB
• ex99-1.htm (EX-99) — 11KB
• 0001171520-24-000014.txt ( ) — 208KB
• sotk-20231231.xsd (EX-101.SCH) — 3KB
• sotk-20231231_lab.xml (EX-101.LAB) — 33KB
• sotk-20231231_pre.xml (EX-101.PRE) — 22KB
• eps11084_htm.xml (XML) — 3KB

02: Departure of Directors or Certain Officers; Election

Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

01: Regulation FD Disclosure

Item 7.01: Regulation FD Disclosure Change of Chief Executive Officer Effective as of December 31, 2023, Dr. Christopher L. Coccio transitioned from his position as Chief Executive Officer of Sono-Tek Corporation (the "Company") to being the Company's Executive Chairman. Dr. Coccio shall remain Chairman of the Company's Board of Directors (the "Board"). As Executive Chairman, Dr. Coccio shall continue to play a senior leadership role in the Company's management. Effective upon Dr. Coccio's transition, the Board had previously appointed R. Stephen Harshbarger to serve as the Company's Chief Executive Officer. Mr. Harshbarger will also remain President of the Company. Mr. Harshbarger has over 30 years of experience in ultrasonic coating equipment for the electronics, medical device and advanced energy industries. He joined the Company in 1993 and was appointed President of the Company in 2012, elected a Director in 2013, and in August 2020, he assumed the Chief Operating Officer position as well. As President, he directed the Company's Sales, Marketing, Engineering, Service, and Manufacturing Operations. Prior to becoming President, Mr. Harshbarger served as Sales Engineer, World-Wide Sales and Marketing Manager, Vice President & Director of Electronics and Advanced Energy (E&AE) and Executive Vice President. In his years managing the sales organization, Mr. Harshbarger established a worldwide distribution and representative network in more than 40 countries consisting of more than 300 people, and contributing to revenue growth of greater than 400%. Prior to joining the Company, Mr. Harshbarger was the Sales and Marketing Manager for Plasmaco Inc., a world leader in the development of flat panel displays. In that position, he established that company's distribution network, participated in venture capital funding, and introduced the first flat panel technology to Wall Street trading floors. Mr. Harshbarger is a graduate of Bentley University with a major in Fina

Executive Compensation

Executive Compensation Effective January 1, 2024, each named officer's annual salary and potential current fiscal year bonus compensation are as follows: Officer Salary Potential Bonus R. Stephen Harshbarger $265,000 $45,000 Christopher L. Coccio $160,000 $39,000 Stephen J. Bagley $185,000 $37,000 The potential bonus is based on the Company's achieving revenue of $18,470,000 and operating income of $1,121,000 for the 2024 fiscal year.

01: Financial Statements and Exhibits

Item 9.01: Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release dated January 2, 2024 . 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. SONO-TEK CORPORATION By: /s/ Stephen J. Bagley Stephen J. Bagley Chief Financial Officer January 5, 2024

View Full Filing

View this 8-K filing on SEC EDGAR