Yunhong Green CTI Ltd. Announces Board and Officer Changes

TL;DR

Yunhong Green CTI Ltd. shakes up its board and execs, effective Oct 30, 2024. New directors appointed, one departs.

AI Summary

Yunhong Green CTI Ltd. announced on October 30, 2024, changes in its board of directors and executive officers. Specifically, the company reported the departure of Director Jianjun Li and the appointment of new directors, including Chairman of the Board, Jianjun Li, and Director, Zhaohui Wang. The filing also details compensatory arrangements for certain officers.

Why It Matters

Changes in a company's board and executive leadership can signal shifts in strategy, operational focus, or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in directorship and executive roles can introduce uncertainty regarding future strategy and operational stability.

Key Players & Entities

• Yunhong Green CTI Ltd. (company) — Registrant
• Jianjun Li (person) — Departing Director and Appointed Chairman of the Board
• Zhaohui Wang (person) — Appointed Director
• October 30, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $1.3 million — 023, that note amount was approximately $1.3 million. The Company repaid $1 million during J
• $1 million — mately $1.3 million. The Company repaid $1 million during January 2024, with the parties a

Filing Documents

• form8-k.htm (8-K) — 35KB
• 0001493152-24-043507.txt ( ) — 205KB
• yhgj-20241030.xsd (EX-101.SCH) — 3KB
• yhgj-20241030_lab.xml (EX-101.LAB) — 33KB
• yhgj-20241030_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 30, 2024 YUNHONG GREEN CTI LTD. (Exact name of registrant as specified in charter) Illinois 000-23115 36-2848943 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 22160 N. Pepper Road , Lake Barrington , IL 60010 (Address of principal executive offices) (Zip Code) (847) 382-1000 (Registrant's telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock YHGJ The Nasdaq Stock Market LLC (The Nasdaq Capital Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 ( 240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain Officers. Departure of Chief Executive Officer and Acting Chief Financial Officer On October 30, 2024, the Board of Directors (the "Board") of Yunhong Green CTI Ltd. (the "Company"), received notice of the resignation of Frank Cesario as Chief Executive Officer and Acting Chief Financial Officer of the Company, effective November 8, 2024. Mr. Cesario will continue as a Director of the Company. Appointment of Chief Executive Officer On October 30, 2024, the Board shared its intention to appoint Jana M. Schwan, 48, as Chief Executive Officer, effective November 11, 2024. Ms. Schwan has been employed by the Company in progressively more responsible roles in operational, purchasing, and product development capacities since September 2002, and currently leads its Sales, Marketing and Business Development activities in addition to all Operations of the Company. Ms. Schwan was named Vice President of Operations in 2017 and Chief Operating Officer in 2020. There are no family relationships between Ms. Schwan and any other director or executive officer of the Company. There are no related party transactions involving Ms. Schwan that are reportable under Item 404(a) of Regulation S-K, except that her father, Mr. John Schwan, has a long-standing note payable from the Company to him. On December 31, 2023, that note amount was approximately $1.3 million. The Company repaid $1 million during January 2024, with the parties agreeing to pay the remainder at a future date as mutually agreed. That balance remains outstanding. SIGNATURE 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. Dated: November 4, 2024 YUNHONG GREEN CTI LTD. By: /s/ Frank J. Cesario Name: Frank J. Cesario Title: Chief Executive Officer and Acting Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR