Transcat Appoints Michael J. Murphy as New CFO
Ticker: TRNS · Form: 8-K · Filed: May 20, 2024 · CIK: 99302
| Field | Detail |
|---|---|
| Company | Transcat Inc (TRNS) |
| Form Type | 8-K |
| Filed Date | May 20, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.50, $30,000 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Transcat names Michael J. Murphy as new CFO, starting immediately.
AI Summary
Transcat, Inc. announced on May 16, 2024, the appointment of Michael J. Murphy as its new Chief Financial Officer, effective immediately. Murphy previously served as the company's Vice President of Finance and Corporate Controller. He will receive an annual base salary of $300,000 and is eligible for various incentive programs.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: low — This filing primarily concerns an executive appointment and compensation, which typically carries a low inherent risk.
Key Numbers
- $300,000 — CFO Annual Base Salary (This is the starting salary for the newly appointed Chief Financial Officer.)
Key Players & Entities
- Transcat, Inc. (company) — Registrant
- Michael J. Murphy (person) — Appointed Chief Financial Officer
- $300,000 (dollar_amount) — Annual base salary for new CFO
- May 16, 2024 (date) — Effective date of appointment
FAQ
Who has been appointed as the new Chief Financial Officer of Transcat, Inc.?
Michael J. Murphy has been appointed as the new Chief Financial Officer of Transcat, Inc.
When was Michael J. Murphy's appointment as CFO effective?
Michael J. Murphy's appointment as CFO was effective immediately as of May 16, 2024.
What was Michael J. Murphy's previous role at Transcat, Inc.?
Michael J. Murphy previously served as the Vice President of Finance and Corporate Controller for Transcat, Inc.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Michael J. Murphy, is $300,000.
What other compensation elements is the new CFO eligible for?
The new CFO, Michael J. Murphy, is eligible for Transcat's annual cash incentive bonus plan and other equity-based incentive compensation programs.
Filing Stats: 474 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-05-20 16:15:25
Key Financial Figures
- $0.50 — nge on which registered Common Stock, $0.50 par value TRNS Nasdaq Global Market
- $30,000 b — e Plan with a number of shares equal to $30,000 based on the closing price of the Company
Filing Documents
- trns4336801-8k.htm (8-K) — 20KB
- 0001206774-24-000573.txt ( ) — 187KB
- trns-20240516.xsd (EX-101.SCH) — 3KB
- trns-20240516_pre.xml (EX-101.PRE) — 22KB
- trns-20240516_lab.xml (EX-101.LAB) — 33KB
- trns4336801-8k_htm.xml (XML) — 3KB
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. TRANSCAT, INC. Dated: May 20, 2024 By: /s/ Thomas L. Barbato Name: Thomas L. Barbato Title: Senior Vice President of Finance and Chief Financial Officer