M-tron Industries Reports Board and Officer Changes
Ticker: MPTI · Form: 8-K · Filed: Apr 16, 2024 · CIK: 1902314
Sentiment: neutral
Topics: management-change, board-election, executive-compensation
Related Tickers: MPTI
TL;DR
M-tron Industries shakes up leadership, new directors and officers appointed.
AI Summary
M-tron Industries, Inc. filed an 8-K on April 16, 2024, reporting changes in its board of directors and executive officers, including the election of new directors and the appointment of new officers. The filing also disclosed compensatory arrangements for certain officers and included financial statements and exhibits.
Why It Matters
Changes in a company's leadership and executive compensation can signal shifts in strategy or operational focus, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive and board composition can introduce uncertainty regarding future strategy and operational stability.
Key Players & Entities
- M-tron Industries, Inc. (company) — Registrant
- April 16, 2024 (date) — Report Date
- 2525 Shader Road, Orlando, FL 32804 (address) — Principal Executive Offices
FAQ
What specific roles have been filled by the newly appointed officers?
The filing indicates the appointment of certain officers but does not specify the exact roles in the provided text.
Who are the newly elected directors?
The filing states the election of directors but does not list their names in the provided text.
What are the details of the compensatory arrangements for the officers?
The filing mentions compensatory arrangements but does not provide specific details or dollar amounts in the provided text.
What is the primary business of M-tron Industries, Inc.?
M-tron Industries, Inc. is in the business of 'ELECTRONIC COMPONENTS, NEC' (Standard Industrial Classification 3679).
When is M-tron Industries, Inc.'s fiscal year end?
M-tron Industries, Inc.'s fiscal year ends on December 31st.
Filing Stats: 570 words · 2 min read · ~2 pages · Grade level 10.6 · Accepted 2024-04-16 16:52:51
Key Financial Figures
- $0.01 M — h registered Common Stock , par value $0.01 MPTI NYSE American Indicate by check m
Filing Documents
- mpti20240416_8k.htm (8-K) — 30KB
- ex_654732.htm (EX-99.1) — 10KB
- mtronlogosmall.jpg (GRAPHIC) — 7KB
- 0001437749-24-012202.txt ( ) — 187KB
- mpti-20240416.xsd (EX-101.SCH) — 3KB
- mpti-20240416_def.xml (EX-101.DEF) — 12KB
- mpti-20240416_lab.xml (EX-101.LAB) — 15KB
- mpti-20240416_pre.xml (EX-101.PRE) — 12KB
- mpti20240416_8k_htm.xml (XML) — 3KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On April 16, 2024, James W. Tivy resigned from his position of Chief Financial Officer of M-tron Industries, Inc. ("M-tron", "MPTI", or the "Company"), effective immediately. Additionally, on April 16, 2024, the Board of Directors of the Company, by unanimous written consent, appointed Linda Biles, age 62, currently M-tron's Vice President and Controller, as Executive Vice President – Finance and as principal financial officer. Ms. Biles is a graduate of Canisius College, where she earned a Bachelor of Science in Accounting. Prior to joining M-tron, Ms. Biles served as Vice President and Chief Financial Officer of AO Precision Manufacturing from 1999 to 2007. There are no arrangements or understandings between Ms. Biles and any other person pursuant to which she was appointed to serve as the Company's principal financial officer. Ms. Biles has no family relationship with any director or executive officer of the Company, and she has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release of M-tron Industries, Inc., dated April 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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 hereunto duly authorized. M-TRON INDUSTRIES, INC. (Registrant) Date: April 16, 2024 By: /s/ Michael J. Ferrantino, Jr. Name: Michael J. Ferrantino, Jr. Title: Chief Executive Officer