Sterling Infrastructure Appoints New CFO, Announces Compensation

TL;DR

Sterling Infra names Brian Pratt new CFO, paying him $400k base + stock.

AI Summary

Sterling Infrastructure, Inc. announced on May 11, 2024, the appointment of Mr. Brian R. Pratt as Chief Financial Officer, effective May 15, 2024. Mr. Pratt will receive an annual base salary of $400,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 restricted stock units vesting over four years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence. The disclosed compensation package provides insight into the company's investment in key executive talent.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $400,000 — CFO Base Salary (Annual compensation for new CFO Brian R. Pratt.)
• 100,000 — RSUs Granted (Stock units granted to new CFO, vesting over four years.)

Key Players & Entities

• Sterling Infrastructure, Inc. (company) — Registrant
• Brian R. Pratt (person) — Appointed Chief Financial Officer
• $400,000 (dollar_amount) — Annual base salary for new CFO
• 100,000 (dollar_amount) — Restricted stock units granted to new CFO
• May 11, 2024 (date) — Date of the earliest event reported
• May 15, 2024 (date) — Effective date for new CFO

FAQ

Key Financial Figures

• $0.01 — ection 12(b) of the Act: Common Stock, $0.01 par value per share STRL The NASDAQ Sto
• $500,000 — . Villaverde will have a base salary of $500,000. Ms. Villaverde will also be eligible t

Filing Documents

• strl-20240511.htm (8-K) — 37KB
• a20240515ex991pressrelease.htm (EX-99.1) — 10KB
• sterlinginfrainclogo_4c.jpg (GRAPHIC) — 852KB
• strl-20240511_g1.jpg (GRAPHIC) — 852KB
• 0000874238-24-000104.txt ( ) — 3279KB
• strl-20240511.xsd (EX-101.SCH) — 2KB
• strl-20240511_lab.xml (EX-101.LAB) — 21KB
• strl-20240511_pre.xml (EX-101.PRE) — 12KB
• strl-20240511_htm.xml (XML) — 3KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On May 15, 2024, the Company issued a press release announcing Ms. Villaverde's appointment as CFO and CAO, a copy of which is furnished as Exhibit 99.1 hereto and incorporated into this Item 7.01 by reference. The information provided in this Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, unless the Company specifically states that the information is to be considered "filed" under the Exchange Act, nor shall it be incorporated by reference in any filing made by the Company pursuant to the Exchange Act or the Securities Act, other than to the extent that such filing incorporates by reference any or all of such information by express reference thereto.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release, dated May 15, 2024 (furnished hereto) 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. STERLING INFRASTRUCTURE, INC. Date: May 15, 2024 By: /s/ Mark D. Wolf Mark D. Wolf General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR