VSE Corp Elects New Directors Amid Acquisition
Ticker: VSECU · Form: 8-K · Filed: Aug 20, 2024 · CIK: 102752
| Field | Detail |
|---|---|
| Company | Vse Corp (VSECU) |
| Form Type | 8-K |
| Filed Date | Aug 20, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $550,000, $200,000, $2,000,000, $330,000, $467,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, acquisition, governance
TL;DR
VSE Corp adds two new board members post-acquisition, signaling potential strategic shifts.
AI Summary
VSE Corp announced on August 20, 2024, a change in its board of directors. Specifically, the company elected two new directors, Ms. Pamela J. Craig and Mr. David M. Gallagher, to serve until the 2025 annual meeting of stockholders. This action follows the company's recent acquisition by First Reserve.
Why It Matters
The election of new directors often signals strategic shifts or integration efforts following a significant event like an acquisition, potentially impacting the company's future direction and governance.
Risk Assessment
Risk Level: medium — Changes in board composition can indicate strategic realignments or integration challenges following a major transaction.
Key Numbers
- 20240820 — Report Date (Date of the 8-K filing and earliest event reported.)
Key Players & Entities
- VSE Corp (company) — Registrant
- Pamela J. Craig (person) — Newly Elected Director
- David M. Gallagher (person) — Newly Elected Director
- First Reserve (company) — Acquiring Entity
FAQ
Who were the newly elected directors at VSE Corp?
Ms. Pamela J. Craig and Mr. David M. Gallagher were elected as new directors.
When were the new directors elected?
The new directors were elected on August 20, 2024.
Until when will the newly elected directors serve?
They will serve until the 2025 annual meeting of stockholders.
What is VSE Corp's principal executive office address?
VSE Corp's principal executive offices are located at 3361 Enterprise Way, Miramar, Florida 33025.
What is the filing date of this 8-K report?
The 8-K report was filed on August 20, 2024.
Filing Stats: 1,273 words · 5 min read · ~4 pages · Grade level 12.3 · Accepted 2024-08-20 16:38:34
Key Financial Figures
- $550,000 — (1) annual base salary of no less than $550,000; (2) participation in the Company's ann
- $200,000 — 2024); (3) cash sign-on bonus equal to $200,000, subject to repayment if Mr. Cohn's emp
- $2,000,000 — units ("TRSUs") valued at approximately $2,000,000 (the "Initial Equity Grant"), which awa
- $330,000 — grant of TRSUs valued at approximately $330,000, generally vesting annually over three
- $467,500 — units ("PRSUs") valued at approximately $467,500, generally vesting over three years bas
Filing Documents
- vsec-20240820.htm (8-K) — 39KB
- vse-employmentagreementcfo.htm (EX-10.1) — 134KB
- vsec-pressreleasedatedaugu.htm (EX-99.1) — 13KB
- image_0.jpg (GRAPHIC) — 198KB
- vsec-20240820_g1.jpg (GRAPHIC) — 198KB
- 0000102752-24-000077.txt ( ) — 1073KB
- vsec-20240820.xsd (EX-101.SCH) — 2KB
- vsec-20240820_lab.xml (EX-101.LAB) — 21KB
- vsec-20240820_pre.xml (EX-101.PRE) — 12KB
- vsec-20240820_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit Number 10.1 Executive Employment Agreement dated as of August 15, 2024, by and between VSE Corporation and Adam Cohn. 99.1 Press release dated August 20, 2024, entitled "VSE Corporation Announces Appointment of New Chief Financial Officer and New Chief Growth Officer . " 104 Cover Page Interactive Data File
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VSE CORPORATION (Registrant) Date: August 20, 2024 By: /s/ Farinaz S. Tehrani Farinaz S. Tehrani Chief Legal Officer and Corporate Secretary