CTS Corp 8-K: Executive Compensation & Officer Changes Reported

TL;DR

**CTS Corp just filed an 8-K about executive pay and officer changes, watch for strategic shifts.**

AI Summary

CTS Corporation filed an 8-K on February 8, 2024, reporting on changes to its executive compensation arrangements and the departure or election of certain officers and directors. This filing indicates potential shifts in leadership and how key executives are compensated, which can influence company strategy and performance. For investors, understanding these changes is crucial as executive compensation and leadership stability directly impact a company's operational efficiency and long-term value.

Why It Matters

Changes in executive compensation and leadership can signal strategic shifts or efforts to align management incentives with shareholder interests, directly impacting the company's future direction and profitability.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of corporate governance matters and does not inherently present a high risk, though the details of the changes could have future implications.

Analyst Insight

Investors should monitor subsequent filings or press releases for specific details regarding the executive changes and compensation arrangements to understand their potential impact on company strategy and financial performance.

Key Players & Entities

• CTS Corporation (company) — the registrant filing the 8-K
• February 08, 2024 (date) — date of earliest event reported and filing date
• Indiana (company) — state of incorporation for CTS Corporation
• Lisle, Illinois (company) — address of principal executive offices for CTS Corporation
• CTS (company) — trading symbol for CTS Corporation on the New York Stock Exchange

FAQ

From the Filing

0000950170-24-012847.txt : 20240208 0000950170-24-012847.hdr.sgml : 20240208 20240208164234 ACCESSION NUMBER: 0000950170-24-012847 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240208 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240208 DATE AS OF CHANGE: 20240208 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04639 FILM NUMBER: 24609762 BUSINESS ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305778800 MAIL ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 8-K 1 cts-20240208.htm 8-K 8-K 0000026058 false 0000026058 2024-02-08 2024-02-08     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): February 08, 2024     CTS CORPORATION (Exact name of Registrant as Specified in Its Charter)     Indiana 1-4639 35-0225010 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           4925 Indiana Avenue   Lisle , Illinois   60532 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: (630) 577-8800     (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: ☐ 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, no par value   CTS   The New York Stock Exchange 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; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   Effective February 8, 2024, the board of directors (the “Board”) of CTS Corporation (the “Company”) increased the size of its board from six to seven members, and elected Amy M. Dodrill to fill the resulting vacancy. Ms. Dodrill most recently served as President of Baxter’s Global Surgical Solutions and Patient Support Systems segment, a business with innovative products focused on advancing connected care and patient outcomes. Ms. Dodrill is a member of the board of directors of Procept Bio