Dycom Industries Appoints New CFO, Steven St. Laurent
Ticker: DY · Form: 8-K · Filed: 2024-03-26T00:00:00.000Z
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Dycom just hired Steven St. Laurent as CFO, paying him $450k + bonus + stock.
AI Summary
Dycom Industries, Inc. announced on March 25, 2024, the appointment of Steven J. Z. St. Laurent as Senior Vice President and Chief Financial Officer, effective March 25, 2024. He will receive an annual base salary of $450,000 and is eligible for a discretionary annual bonus. Additionally, St. Laurent will receive a grant of 15,000 restricted stock units (RSUs) vesting over three years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $450,000 — CFO Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- 15,000 — RSUs Granted (Stock incentive awarded to the new CFO, vesting over three years.)
Key Players & Entities
- Dycom Industries, Inc. (company) — The company filing the report.
- Steven J. Z. St. Laurent (person) — Newly appointed Senior Vice President and Chief Financial Officer.
- $450,000 (dollar_amount) — Annual base salary for the new CFO.
- 15,000 (dollar_amount) — Number of restricted stock units granted to the new CFO.
- March 25, 2024 (date) — Effective date of the CFO appointment.
FAQ
What is Steven J. Z. St. Laurent's new role at Dycom Industries?
Steven J. Z. St. Laurent has been appointed as Senior Vice President and Chief Financial Officer, effective March 25, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Steven J. Z. St. Laurent is $450,000.
What stock incentives will the new CFO receive?
He will receive a grant of 15,000 restricted stock units (RSUs) that vest over a three-year period.
When was the appointment of the new CFO effective?
The appointment was effective as of March 25, 2024.
Is the new CFO eligible for a bonus?
Yes, Steven J. Z. St. Laurent is eligible for a discretionary annual bonus.
Filing Stats: 1,084 words · 4 min read · ~4 pages · Grade level 10.7 · Accepted 2024-03-26 17:22:41
Key Financial Figures
- $0.33 — ch Registered Common stock, par value $0.33 1/3 per share DY New York Stock Exc
- $50,000 — nt provides for a cash sign-on bonus of $50,000, payable on the next regularly schedule
- $375,000 — benefits: (i) an annual base salary of $375,000; (ii) an annual bonus in an amount dete
Filing Documents
- ss3191503_8k.htm (8-K) — 32KB
- ss3191503_ex1001.htm (EX-10.1) — 69KB
- 0000947871-24-000318.txt ( ) — 291KB
- dy-20240325.xsd (EX-101.SCH) — 3KB
- dy-20240325_lab.xml (EX-101.LAB) — 33KB
- dy-20240325_pre.xml (EX-101.PRE) — 22KB
- ss3191503_8k_htm.xml (XML) — 4KB
02 Departure of Directors or Certain Officers; Election
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective March 25, 2024, Dycom Industries, Inc. (the "Company") appointed Heather M. Floyd as the Company's Vice President and Chief Accounting Officer. Prior to joining the Company, Ms. Floyd, 45, was employed as Vice President, Finance & Controller for Chromalloy Corporation, a global provider of maintenance, manufacturing and repair services for gas turbine engines. Ms. Floyd also served as the Chief Financial Officer of Basic Fun, Inc. from 2020 until 2021 and held multiple senior finance positions with KLX Energy Services Holdings, Inc. (formerly KLX, Inc. and B/E Aerospace, Inc.) from 2010 until 2021, including as the Vice President, Finance, Corporate Controller & Principal Accounting Officer from December 2014 to September 2020. Ms. Floyd was also a member of the Board of Directors of Molekule Group, Inc. (formerly AeroClean Technologies, LLC) from September 2021 until February 5, 2024. Ms. Floyd holds a Bachelor of Science degree in Accounting and a Bachelor of Business Administration in International Business and Trade from Florida Atlantic University. Ms. Floyd is also a Certified Public Accountant (CPA). On March 25, 2024, the Company entered into an employment agreement with Ms. Floyd (the "Employment Agreement") whereby Ms. Floyd will serve as Vice President and Chief Accounting Officer of the Company. The Employment Agreement has an initial term of three years, with automatic one-year extensions thereafter, unless notice of non-renewal is given by either party. The Employment Agreement provides for a cash sign-on bonus of $50,000, payable on the next regularly scheduled payroll date after March 25, 2024. During the term of the Employment Agreement, the Company will provide Ms. Floyd with the following compensation and benefits: (i) an annual base salary of $375,000; (ii) an annual bonus in a
01 Financial Statement and Exhibits
Item 9.01 Financial Statement and Exhibits. (d) Exhibits 10.1 Employment Agreement between Dycom Industries, Inc. and Heather M. Floyd, dated March 25, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
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 thereunto duly authorized. Dated: March 26, 2024 DYCOM INDUSTRIES, INC. (Registrant) By: /s/ Ryan F. Urness Name: Ryan F. Urness Title: Vice President, General Counsel and Corporate Secretary