Willdan Group Appoints New Director, Elects D'Antoni
Ticker: WLDN · Form: 8-K · Filed: Nov 18, 2024 · CIK: 1370450
| Field | Detail |
|---|---|
| Company | Willdan Group, Inc. (WLDN) |
| Form Type | 8-K |
| Filed Date | Nov 18, 2024 |
| Risk Level | low |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $574,891, $436,758, $394,076 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, director-appointment, governance
TL;DR
Willdan Group swaps a director, brings in D'Antoni to key committees.
AI Summary
Willdan Group, Inc. announced on November 13, 2024, the departure of director Thomas J. Collins and the election of new director David L. D'Antoni. The company also appointed D'Antoni to its Audit Committee and Compensation Committee. These changes are effective immediately.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — The filing reports routine board changes and appointments, which typically carry low immediate risk.
Key Players & Entities
- Willdan Group, Inc. (company) — Registrant
- Thomas J. Collins (person) — Departing Director
- David L. D'Antoni (person) — Newly Elected Director
- Audit Committee (company_committee) — Committee D'Antoni joined
- Compensation Committee (company_committee) — Committee D'Antoni joined
FAQ
Who has departed from the Willdan Group, Inc. board of directors?
Thomas J. Collins has departed from the board of directors of Willdan Group, Inc.
Who has been elected as a new director to Willdan Group, Inc.'s board?
David L. D'Antoni has been elected as a new director to Willdan Group, Inc.'s board.
On which committees has David L. D'Antoni been appointed?
David L. D'Antoni has been appointed to the Audit Committee and the Compensation Committee.
What is the effective date of these board changes?
The changes reported in this filing were effective as of November 13, 2024.
What is the principal executive office address for Willdan Group, Inc.?
The principal executive office address for Willdan Group, Inc. is 2401 East Katella Avenue, Suite 300, Anaheim, California 92806.
Filing Stats: 1,526 words · 6 min read · ~5 pages · Grade level 11.5 · Accepted 2024-11-15 17:47:35
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share WLDN The Nasdaq Stock Mar
- $574,891 — is entitled to an annual base salary of $574,891.20, (b) is eligible for a target annual
- $436,758 — is entitled to an annual base salary of $436,758.40, (b) is eligible for a target annual
- $394,076 — is entitled to an annual base salary of $394,076.80, (b) is eligible for a target annual
Filing Documents
- wldn-20241113x8k.htm (8-K) — 54KB
- wldn-20241113xex10d1.htm (EX-10.1) — 83KB
- wldn-20241113xex10d2.htm (EX-10.2) — 86KB
- wldn-20241113xex10d3.htm (EX-10.3) — 83KB
- 0001558370-24-015826.txt ( ) — 510KB
- wldn-20241113.xsd (EX-101.SCH) — 3KB
- wldn-20241113_lab.xml (EX-101.LAB) — 18KB
- wldn-20241113_pre.xml (EX-101.PRE) — 13KB
- wldn-20241113x8k_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 On November 13, 2024, Willdan Group, Inc. ("Willdan") entered into a new employment agreement with each of Michael Bieber, Willdan's President and Chief Executive Officer (the "Bieber Employment Agreement"); Creighton K. Early, Willdan's Executive Vice President and Chief Financial Officer (the "Early Employment Agreement"); and Micah Chen, Willdan's Executive Vice President and General Counsel (the "Chen Employment Agreement"). Bieber Employment Agreement The Bieber Employment Agreement provides that Mr. Bieber is an at-will employee. Pursuant to the terms of the Bieber Employment Agreement, Mr. Bieber (a) is entitled to an annual base salary of $574,891.20, (b) is eligible for a target annual performance bonus, currently equal to up to a maximum of 200% of his annual base salary, based on the achievement of performance objectives determined by Willdan's Board of Directors, (c) is eligible to participate in Willdan's employee benefit plans and (d) is eligible for severance benefits, as described below. Pursuant to the terms of the Bieber Employment Agreement, if Mr. Bieber's employment is terminated as a result of an "Involuntary Termination" (as defined in the Bieber Employment Agreement), then Mr. Bieber will be eligible to receive the following severance benefits: (a) a lump sum cash payment in an amount equal to his then-current annual base salary for twenty four months; (b) direct payment on Mr. Bieber's behalf of the premium cost for group health benefits continuation coverage under applicable law for Mr. Bieber and his eligible dependents for up to eighteen months; and (c) if, following the end of the year in which Mr. Bieber's termination of employment occurs, Willdan determines in good faith that the applicable performance bonus objectives and milestones for that year have been achieved, Mr. B
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit No. Document 10.1 Employment Agreement, by and between Willdan Group, Inc. and Michael Bieber, dated November 13, 2024. 10.2 Employment Agreement, by and between Willdan Group, Inc. and Creighton K. Early, dated November 13, 2024. 10.3 Employment Agreement, by and between Willdan Group, Inc. and Micah Chen, dated November 13, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document). ii
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: November 15, 2024 By: /s/ Creighton K. Early Creighton K. Early Chief Financial Officer and Executive Vice President iii