Thermon Group Appoints New CFO, Robert J. Dixon

TL;DR

Thermon Group names new CFO, Robert J. Dixon, starting April 1st. Expects $425k salary + bonus + $1M in stock.

AI Summary

Thermon Group Holdings, Inc. announced on March 28, 2024, the appointment of Mr. Robert J. Dixon as the new Chief Financial Officer, effective April 1, 2024. Mr. Dixon will receive an annual base salary of $425,000 and will be eligible for an annual cash incentive award with a target of 75% of his base salary. He will also receive a one-time grant of restricted stock units (RSUs) valued at approximately $1,000,000.

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

• $425,000 — CFO Base Salary (Annual compensation for new CFO Robert J. Dixon.)
• $1,000,000 — RSU Grant Value (One-time stock award for new CFO Robert J. Dixon.)

Key Players & Entities

• Thermon Group Holdings, Inc. (company) — Registrant
• Robert J. Dixon (person) — Appointed Chief Financial Officer
• $425,000 (dollar_amount) — Annual base salary for new CFO
• 75% (dollar_amount) — Target percentage for annual cash incentive award
• $1,000,000 (dollar_amount) — Value of one-time restricted stock unit grant
• April 1, 2024 (date) — Effective date for new CFO appointment
• March 28, 2024 (date) — Date of report

FAQ

From the Filing

0001489096-24-000063.txt : 20240403 0001489096-24-000063.hdr.sgml : 20240403 20240403171607 ACCESSION NUMBER: 0001489096-24-000063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240328 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240403 DATE AS OF CHANGE: 20240403 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Thermon Group Holdings, Inc. CENTRAL INDEX KEY: 0001489096 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 272228185 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-35159 FILM NUMBER: 24820065 BUSINESS ADDRESS: STREET 1: 7171 SOUTHWEST PARKWAY STREET 2: BUILDING 300, SUITE 200 CITY: AUSTIN STATE: TX ZIP: 78735 BUSINESS PHONE: 5126900600 MAIL ADDRESS: STREET 1: 7171 SOUTHWEST PARKWAY STREET 2: BUILDING 300, SUITE 200 CITY: AUSTIN STATE: TX ZIP: 78735 8-K 1 thr-20240328.htm 8-K thr-20240328 0001489096 false 0001489096 2024-03-28 2024-03-28 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): March 28, 2024 THERMON GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 001-35159 27-2228185 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification Number) 7171 Southwest Parkway Building 300, Suite 200 Austin TX 78735 (Address of principal executive offices) (Zip code) Registrant’s telephone number, including area code: ( 512 ) 690-0600 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: ☐ 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, $0.001 par value per share THR 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. On March 28, 2024, Thermon Group Holdings, Inc. (the “ Company ”) received notice from Kevin Fox of his intent to step down as Senior Vice President and Chief Financial Officer, effective April 12, 2024. Mr. Fox is resigning to pursue a new professional opportunity and not as a result of any disagreement with the Company on any matters related to the Company’s financial or accounting operations, policies, or practices. The Company has commenced a sear