Ducommun Appoints New CFO, Grants Stock Awards
Ticker: DCO · Form: 8-K · Filed: Apr 25, 2024 · CIK: 30305
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Ducommun gets a new CFO, Christopher Bartel, starting April 29th with a $425k salary and $1M stock grant.
AI Summary
Ducommun Inc. announced on April 24, 2024, the appointment of Christopher L. Bartel as Senior Vice President and Chief Financial Officer, effective April 29, 2024. Bartel will receive an annual base salary of $425,000 and is eligible for a discretionary annual bonus. He will also receive a one-time grant of restricted stock units valued at approximately $1,000,000.
Why It Matters
The appointment of a new CFO is a significant leadership change that could impact the company's 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 Annual Base Salary (Represents the guaranteed compensation for the new Chief Financial Officer.)
- $1,000,000 — CFO Stock Grant Value (Indicates a significant incentive and investment in the new CFO's long-term commitment.)
Key Players & Entities
- Ducommun Inc. (company) — Registrant
- Christopher L. Bartel (person) — Appointed Senior Vice President and Chief Financial Officer
- $425,000 (dollar_amount) — Annual base salary for new CFO
- $1,000,000 (dollar_amount) — Value of restricted stock units granted to new CFO
- April 29, 2024 (date) — Effective date for new CFO appointment
FAQ
What is Christopher L. Bartel's previous experience relevant to his new role?
The filing does not provide details on Christopher L. Bartel's prior experience.
What are the specific performance metrics tied to the discretionary annual bonus for the new CFO?
The filing states the bonus is discretionary and does not specify performance metrics.
Are there any clawback provisions associated with the restricted stock units granted to Mr. Bartel?
The filing does not detail specific terms or clawback provisions for the stock grant.
What is the vesting schedule for the $1,000,000 worth of restricted stock units?
The filing does not specify the vesting schedule for the restricted stock units.
Who previously held the position of Senior Vice President and Chief Financial Officer at Ducommun Inc.?
The filing does not mention the predecessor to the new CFO.
Filing Stats: 798 words · 3 min read · ~3 pages · Grade level 13.1 · Accepted 2024-04-25 16:42:04
Filing Documents
- d820807d8k.htm (8-K) — 40KB
- d820807dex101.htm (EX-10.1) — 65KB
- 0001193125-24-114064.txt ( ) — 242KB
- dco-20240424.xsd (EX-101.SCH) — 3KB
- dco-20240424_lab.xml (EX-101.LAB) — 18KB
- dco-20240424_pre.xml (EX-101.PRE) — 11KB
- d820807d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit No Exhibit Title or Description 10.1 Ducommun Incorporated 2024 Stock Incentive Plan (filed herewith). 104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.
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. DUCOMMUN INCORPORATED (Registrant) Date: April 25, 2024 By: /s/ Suman B. Mookerji Suman B. Mookerji Senior Vice President, Chief Financial Officer