Willdan Group Reports Officer Compensation & Leadership Changes
Ticker: WLDN · Form: 8-K · Filed: Feb 29, 2024 · CIK: 1370450
| Field | Detail |
|---|---|
| Company | Willdan Group, Inc. (WLDN) |
| Form Type | 8-K |
| Filed Date | Feb 29, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $25,200 |
| Sentiment | neutral |
Sentiment: neutral
Topics: compensatory-arrangements, officer-changes, corporate-governance
TL;DR
**Willdan Group just filed an 8-K about officer compensation and potential leadership changes, so keep an eye on their executive team!**
AI Summary
Willdan Group, Inc. filed an 8-K on February 29, 2024, reporting events that occurred on February 28, 2024. The filing addresses changes in compensatory arrangements for certain officers and the departure or election of directors or officers. This indicates potential shifts in executive compensation or leadership within the company.
Why It Matters
Changes in executive compensation and leadership can signal strategic shifts or financial performance adjustments within Willdan Group, impacting investor confidence and future direction.
Risk Assessment
Risk Level: medium — Changes in officer compensation and leadership can introduce uncertainty regarding future company strategy and stability.
Key Players & Entities
- Willdan Group, Inc. (company) — Registrant
- February 28, 2024 (date) — Date of earliest event reported
- February 29, 2024 (date) — Filing date
- Anaheim, California (location) — Principal Executive Offices
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 28, 2024.
What specific items were reported under Item 5.02 in this 8-K?
Item 5.02 covers 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers'.
What is the business address of Willdan Group, Inc.?
The business address of Willdan Group, Inc. is 2401 East Katella Avenue, Suite 300, Anaheim, California 92806.
What is the telephone number for Willdan Group, Inc.?
The telephone number for Willdan Group, Inc. is (800) 424-9144.
What is the state of incorporation for Willdan Group, Inc.?
Willdan Group, Inc. is incorporated in Delaware.
Filing Stats: 677 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-02-29 17:30:31
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share WLDN The Nasdaq Stock Mar
- $25,200 — For such services, Dr. Brisbin is paid $25,200 per month and the reimbursement of reas
Filing Documents
- wldn-20240228x8k.htm (8-K) — 40KB
- wldn-20240228xex10d1.htm (EX-10.1) — 65KB
- 0001558370-24-002215.txt ( ) — 235KB
- wldn-20240228.xsd (EX-101.SCH) — 3KB
- wldn-20240228_lab.xml (EX-101.LAB) — 16KB
- wldn-20240228_pre.xml (EX-101.PRE) — 10KB
- wldn-20240228x8k_htm.xml (XML) — 5KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Consulting Agreement with Former Chief Executive Officer On December 29, 2023, Thomas D. Brisbin resigned as Chief Executive Officer of Willdan Group, Inc. (the "Company"). In connection with Dr. Brisbin's resignation, the Company disclosed its intention to enter into a consulting agreement with Dr. Brisbin on terms to be approved by the Board of Directors of the Company (the "Board") and Audit Committee of the Board. On February 28, 2024, the Company entered into a consulting agreement (the "Consulting Agreement") with Dr. Brisbin. Pursuant to the Consulting Agreement, Dr. Brisbin is providing the Company with consulting services, including performing various tasks related to management transition, business development, technology development and other sales-related activities. For such services, Dr. Brisbin is paid $25,200 per month and the reimbursement of reasonable and necessary costs and expenses incurred in connection with providing services to the Company. During the term of the Consulting Agreement, Dr. Brisbin will remain eligible to vest in his outstanding equity awards pursuant to the terms of the Company's 2008 Performance Incentive Plan. The Consulting Agreement may be terminated by the Company or Dr. Brisbin at any time with 5 days' written notice. Prior to his resignation, Dr. Brisbin was employed by the Company pursuant to an employment agreement that expired by its terms with his resignation on December 29, 2023. The foregoing description of the Consulting Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit No. Document 10.1 Consulting Agreement by and between the Company and Thomas D. Brisbin, dated February 28, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document). i
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. WILLDAN GROUP, INC. Date: February 29, 2024 By: /s/ Creighton K. Early Creighton K. Early Chief Financial Officer and Executive Vice President ii