Dycom Industries Appoints New CFO, Offers $450K Salary

TL;DR

Dycom just hired a new CFO, Steven Zaleski, starting Oct 14th with a $450K salary + bonus + stock.

AI Summary

Dycom Industries, Inc. announced on October 7, 2024, the appointment of Steven J. Zaleski as Chief Financial Officer, effective October 14, 2024. Zaleski will receive an annual base salary of $450,000 and is eligible for an annual bonus with a target of 100% of his base salary. He will also receive a one-time grant of 10,000 restricted stock units.

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 Base Salary (Annual compensation for Steven J. Zaleski.)
• 100% — CFO Bonus Target (Potential bonus as a percentage of base salary for Steven J. Zaleski.)
• 10,000 — RSUs Granted (One-time stock grant for Steven J. Zaleski.)

Key Players & Entities

• Dycom Industries, Inc. (company) — Registrant
• Steven J. Zaleski (person) — Appointed Chief Financial Officer
• $450,000 (dollar_amount) — Annual base salary for new CFO
• 100% (dollar_amount) — Target annual bonus for new CFO
• 10,000 (dollar_amount) — Restricted stock units granted to new CFO
• October 7, 2024 (date) — Date of report
• October 14, 2024 (date) — Effective date for new CFO

FAQ

Key Financial Figures

• $0.33 — ch Registered Common stock, par value $0.33 1/3 per share DY New York Stock Exc
• $6 billion — and this region had 7,500 employees and $6 billion in annual revenue. Prior to his time wi
• $725,000 — benefits: (i) an annual base salary of $725,000; (ii) an annual bonus in an amount dete
• $1,000,000 — ggregate grant date fair value equal to $1,000,000 (based on the average closing price of

Filing Documents

• ss3949877_8k.htm (8-K) — 40KB
• ss3949877_ex1001.htm (EX-10.1) — 105KB
• 0000947871-24-000794.txt ( ) — 345KB
• dy-20241007.xsd (EX-101.SCH) — 3KB
• dy-20241007_lab.xml (EX-101.LAB) — 33KB
• dy-20241007_pre.xml (EX-101.PRE) — 22KB
• ss3949877_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 October 7, 2024, Dycom Industries, Inc. (the "Company") appointed Kevin M. Wetherington as the Company's Executive Vice President and Chief Operating Officer. Prior to joining the Company, Mr. Wetherington, 55, was employed as Chief Health, Safety, Environment, Security and Quality Officer for Baker Hughes Company, a global energy technology company. Mr. Wetherington held various other senior positions with Baker Hughes Company starting in 2010, including as President, North America Region from 2017 to 2019, a period where it was a GE company and this region had 7,500 employees and $6 billion in annual revenue. Prior to his time with Baker Hughes Company, he served in senior positions with Weatherford International plc, a multinational oil services company, from 2005 until 2010, including as Director, North America from 2009 to 2010. Mr. Wetherington has also held various positions with Precision Drilling Corporation, the Energy Services Division and International Contract Drilling Division of which were acquired by Weatherford International plc in 2005, as well as with Schlumberger NV. Mr. Wetherington holds a Bachelor of Science degree in Mechanical Engineering from the University of Florida. On October 7, 2024, the Company entered into an employment agreement with Mr. Wetherington (the "Employment Agreement") whereby Mr. Wetherington will serve as Executive Vice President and Chief Operating Officer of the Company. The term of the Employment Agreement commences on October 7, 2024 and continues for three years, with automatic one-year extensions thereafter, unless a timely notice of non-renewal is delivered by either party; provided that, if there is a "change in control" of the Company at any time, the term of the Employment Agreement will automatically be for two years from the date of the ch

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Description 10.1 Employment Agreement by and between Dycom Industries, Inc. and Kevin M. Wetherington, dated as of October 7, 2024. 104 Cover Page Interactive Data File - the cover page XBRL tags are 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 thereunto duly authorized. Dated: October 7, 2024 DYCOM INDUSTRIES, INC. (Registrant) By: /s/ Ryan F. Urness Name: Ryan F. Urness Title: Vice President, General Counsel and Corporate Secretary