L.B. Foster Appoints John S. Reder CEO
Ticker: FSTR · Form: 8-K · Filed: May 24, 2024 · CIK: 352825
Sentiment: neutral
Topics: leadership-change, ceo-appointment
Related Tickers: LBFO
TL;DR
LBFO names John Reder permanent CEO, effective immediately.
AI Summary
On May 22, 2024, L.B. Foster Company announced the appointment of John S. Reder as Chief Executive Officer and a member of the Board of Directors, effective immediately. Reder previously served as interim CEO and brings extensive experience in industrial manufacturing and services. The company also reported on matters submitted to a vote of security holders and filed financial statements and exhibits.
Why It Matters
The appointment of a permanent CEO is a significant leadership change that could signal a new strategic direction for L.B. Foster Company.
Risk Assessment
Risk Level: medium — CEO appointments can impact company strategy and performance, introducing a degree of uncertainty.
Key Players & Entities
- L.B. Foster Company (company) — Registrant
- John S. Reder (person) — Appointed CEO and Director
- May 22, 2024 (date) — Effective date of appointment
- May 24, 2024 (date) — Filing date of the report
FAQ
Who has been appointed as the new Chief Executive Officer of L.B. Foster Company?
John S. Reder has been appointed as the Chief Executive Officer of L.B. Foster Company.
When was the appointment of John S. Reder effective?
The appointment of John S. Reder was effective May 22, 2024.
What other role has John S. Reder taken on at L.B. Foster Company?
In addition to CEO, John S. Reder has also been appointed as a member of the Board of Directors.
What is the principal executive office address for L.B. Foster Company?
The principal executive office address for L.B. Foster Company is 415 Holiday Drive, Suite 100, Pittsburgh, Pennsylvania 15220.
What is the telephone number for L.B. Foster Company?
The telephone number for L.B. Foster Company is (412) 928-3400.
Filing Stats: 1,292 words · 5 min read · ~4 pages · Grade level 10.6 · Accepted 2024-05-24 15:04:03
Key Financial Figures
- $0.01 — ich registered Common Stock, Par Value $0.01 FSTR NASDAQ Global Select Market Indi
Filing Documents
- fstr-20240522.htm (8-K) — 62KB
- 0000352825-24-000142.txt ( ) — 186KB
- fstr-20240522.xsd (EX-101.SCH) — 2KB
- fstr-20240522_lab.xml (EX-101.LAB) — 21KB
- fstr-20240522_pre.xml (EX-101.PRE) — 12KB
- fstr-20240522_htm.xml (XML) — 3KB
07 Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting, the Company's shareholders considered four proposals, each of which is described in the Company's definitive proxy statement filed with the SEC on April 12, 2024. Results of voting with respect to the proposals submitted at the Annual Meeting are set forth below. Proposal 1: Election of Directors: Name Votes For Votes Withheld Broker Non-votes Raymond T. Betler 8,194,827 21,726 1,327,562 Alexander B. Jones 8,188,279 28,274 1,327,562 John F. Kasel 8,195,739 20,814 1,327,562 John E. Kunz 8,173,632 42,921 1,327,562 Janet Lee 8,148,555 67,998 1,327,562 David J. Meyer 8,177,072 39,481 1,327,562 Diane B. Owen 8,128,149 88,404 1,327,562 Bruce E. Thompson 8,131,444 85,109 1,327,562 As a result of the shareholder vote, all of the foregoing nominees were elected to serve until the next annual meeting of shareholders. Proposal 2: Ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for 2024: Votes For Votes Against Abstentions Broker Non-votes 9,510,584 26,393 7,138 0 The foregoing proposal was approved. Proposal 3: Advisory approval of the compensation paid to the Company's named executive officers in 2023: Votes For Votes Against Abstentions Broker Non-vote 8,170,125 23,159 23,269 1,327,562 The foregoing proposal was approved. Proposal 4: Approval of the L.B. Foster Company 2022 Equity and Incentive Compensation Plan (As Amended and Restated): Votes For Votes Against Abstentions Broker Non-votes 6,809,919 1,387,066 19,568 1,327,562 The 2022 Equity and Incentive Compensation Plan (As Amended and Restated) was approved. No other matters or proposals were voted on at the Annual Meeting.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits See Exhibit Index below. Exhibit Index Exhibit Number Description 10.1 L.B. Foster Company 2022 Equity and Incentive Compensation Plan as Amended and Restated May 23, 2024 (incorporated herein by reference to Exhibit 99.1 to the Company's Registration Statement on Form S-8, filed by the Company on May 23, 2024, File Number 333-279648. *104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) *Exhibits marked with an asterisk are filed herewith. SIGNATURE 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. L.B. FOSTER COMPANY (Registrant) Date: May 24, 2024 /s/ Patrick J. Guinee Patrick J. Guinee Executive Vice President, General Counsel, and Corporate Secretary