STANDEX (SXI) Reports Executive Compensation Arrangement Changes
Ticker: SXI · Form: 8-K · Filed: Jan 4, 2024 · CIK: 310354
Complexity: simple
Sentiment: neutral
Topics: executive-compensation, corporate-governance, 8-K
TL;DR
**SXI just tweaked exec pay, watch for details on how it impacts performance.**
AI Summary
STANDEX INTERNATIONAL CORPORATION (SXI) filed an 8-K on January 4, 2024, reporting an event on December 28, 2023, related to changes in its executive compensation arrangements. This filing indicates potential adjustments to how the company incentivizes its top officers, which could impact future financial performance and shareholder value. Investors should monitor subsequent filings for details on these new compensatory arrangements, as they directly affect the company's operational costs and executive motivation.
Why It Matters
Changes in executive compensation can influence leadership stability, motivation, and ultimately, the company's strategic direction and financial health.
Risk Assessment
Risk Level: low — This 8-K is a procedural filing about executive compensation arrangements, not an immediate financial event, posing low direct risk.
Analyst Insight
Investors should monitor future filings for specific details on the new compensatory arrangements to assess their potential impact on executive incentives and company performance.
Key Numbers
- $1.50 — Par Value Per Share (The par value of STANDEX INTERNATIONAL CORPORATION's Common Stock.)
Key Players & Entities
- STANDEX INTERNATIONAL CORPORATION (company) — the registrant filing the 8-K
- SXI (company) — the trading symbol for STANDEX INTERNATIONAL CORPORATION
- December 28, 2023 (date) — the date of the earliest event reported in the 8-K
- January 4, 2024 (date) — the filing date of the 8-K
- $1.50 (dollar_amount) — par value per share of Common Stock
Forward-Looking Statements
- STANDEX INTERNATIONAL CORPORATION will provide more specific details on the new compensatory arrangements in a future filing. (STANDEX INTERNATIONAL CORPORATION) — medium confidence, target: Q1 2024
FAQ
What was the specific event reported in this 8-K filing?
The 8-K reported an event concerning 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' as of December 28, 2023.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted to the SEC on January 4, 2024.
What is the trading symbol and exchange for STANDEX INTERNATIONAL CORPORATION's common stock?
The trading symbol for STANDEX INTERNATIONAL CORPORATION's Common Stock is SXI, and it is registered on the New York Stock Exchange.
What is the state of incorporation for STANDEX INTERNATIONAL CORPORATION?
STANDEX INTERNATIONAL CORPORATION is incorporated in Delaware.
What is the business address and phone number of STANDEX INTERNATIONAL CORPORATION?
The business address is 23 Keewaydin Drive, Salem, New Hampshire 03079, and the telephone number is (603) 893-9701.
Filing Stats: 610 words · 2 min read · ~2 pages · Grade level 14.4 · Accepted 2024-01-04 13:38:41
Key Financial Figures
- $1.50 — h registered Common Stock , Par Value $1.50 Per Share SXI New York Stock Exchange
Filing Documents
- sxi20240104_8k.htm (8-K) — 21KB
- 0001437749-24-000537.txt ( ) — 149KB
- sxi-20231228.xsd (EX-101.SCH) — 3KB
- sxi-20231228_def.xml (EX-101.DEF) — 11KB
- sxi-20231228_lab.xml (EX-101.LAB) — 15KB
- sxi-20231228_pre.xml (EX-101.PRE) — 11KB
- sxi20240104_8k_htm.xml (XML) — 2KB
From the Filing
sxi20240104_8k.htm     UNITED STATES 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): December 28, 2023     STANDEX INTERNATIONAL CORPORATION (Exact name of registrant as specified in its charter)     Delaware 1-7233 31-0596149 (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.)   23 Keewaydin Drive , Salem , New Hampshire 03079 (Address of principal executive offices) (Zip Code)   Registrant ' s telephone number, including area code: ( 603 ) 893-9701   Not applicable (Former name or former address, if changed since last report)   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 , Par Value $1.50 Per Share SXI New York Stock Exchange   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))   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.   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.           Standex International Corporation     ITEM 5.02 DEPARTING DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS TO CERTAIN OFFICERS   (a)   On December 28, 2023, Sean Valashinas, Vice President, Chief Accounting Officer and Assistant Treasurer for the Company, notified the Company that he will be leaving the Company effective January 26, 2024, to pursue an alternative career opportunity. (b)   The Company has announced that Amy Gagnon, current Corporate Controller, has been promoted to succeed Mr. Valashinas as Chief Accounting Officer effective January 26, 2024. Ms. Gagnon, age 44 joined the Company in March 2020 as Assistant Controller and was promoted to Corporate Controller in September 2021.  From 2018 until joining the Company in March 2020, Ms. Gagnon was the Assistant Controller at Vapotherm, Inc. a publicly traded manufacturer of medical equipment. Prior to that, she worked for eleven years in positions of increasing finance, accounting and SEC reporting responsibility at publicly traded companies in the semiconductor and biotechnology industries. In connection with her appointment as Chief Accounting Officer, Ms. Gagnon will be a participant in the Company's Executive Severance Policy which policy previously was filed as an exhibit to the Company's filing on Form 8-K dated November 1, 2023.     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 thereunto duly authorized.   STANDEX INTERNATIONAL CORPORATION (Registrant)     /s/ Ademir Sarcevic   Ademir Sarcevic   Chief Financial Officer       Date: January 4, 2024       Signing on behalf of the registrant and as principal financial officer