M-tron Industries Reports Director/Officer Changes & Financials
Ticker: MPTI · Form: 8-K · Filed: Oct 9, 2024 · CIK: 1902314
Sentiment: neutral
Topics: leadership-change, financials, corporate-governance
Related Tickers: MPTI
TL;DR
M-tron Industries (MPTI) filed an 8-K detailing director/officer changes and financial updates as of Oct 3rd.
AI Summary
M-tron Industries, Inc. filed an 8-K on October 9, 2024, reporting events that occurred on October 3, 2024. The filing pertains to the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers. It also includes financial statements and exhibits.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could impact strategic direction and operational oversight.
Risk Assessment
Risk Level: medium — Changes in directors or officers can signal internal shifts that may affect company strategy or stability.
Key Players & Entities
- M-tron Industries, Inc. (company) — Registrant
- October 9, 2024 (date) — Filing Date
- October 3, 2024 (date) — Earliest Event Date
FAQ
What specific director or officer positions were affected by the events reported on October 3, 2024?
The filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers' but does not specify the names or exact roles in the provided text.
Are the financial statements included in this 8-K for a specific period?
The filing states 'Financial Statements and Exhibits' are included, but the specific reporting period for these statements is not detailed in the provided text.
What is the primary business of M-tron Industries, Inc. according to the filing?
M-tron Industries, Inc. is classified under 'ELECTRONIC COMPONENTS, NEC [3679]'.
Where is M-tron Industries, Inc. headquartered?
The company's principal executive offices are located at 2525 Shader Road, Orlando, FL 32804.
What is the significance of the 'Conformed Submission Type' being 8-K?
An 8-K filing is a Current Report filed by public companies to announce major events that shareholders should be aware of, such as changes in leadership or financial status.
Filing Stats: 705 words · 3 min read · ~2 pages · Grade level 9.9 · Accepted 2024-10-09 16:39:59
Key Financial Figures
- $0.01 M — h registered Common Stock , par value $0.01 MPTI NYSE American Indicate by check m
- $210,000 — forr will: (i) receive a base salary of $210,000 per year; and (ii) be eligible for an a
- $914,200 — ard with an initial grant date value of $914,200 with a three-year vesting period. Ther
Filing Documents
- mpti20240712_8k.htm (8-K) — 32KB
- ex_697860.htm (EX-99.1) — 15KB
- mtronlogosmall.jpg (GRAPHIC) — 7KB
- 0001437749-24-030961.txt ( ) — 204KB
- mpti-20241003.xsd (EX-101.SCH) — 3KB
- mpti-20241003_def.xml (EX-101.DEF) — 12KB
- mpti-20241003_lab.xml (EX-101.LAB) — 15KB
- mpti-20241003_pre.xml (EX-101.PRE) — 12KB
- mpti20240712_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 October 9, 2024, M-tron Industries, Inc. ("MtronPTI" or the "Company") announced the appointment of Cameron Pforr to serve as Chief Financial Officer, effective October 3, 2024. Mr. Pforr is a graduate of the College of William and Mary, where he earned a Bachelor of Science in Computer Science, the Wharton School at the University of Pennsylvania, where he earned a Master of Business Administration, and the University of Pennsylvania, where he earned a Master of Arts in International Studies. Prior to joining MtronPTI, Mr. Pforr served as President and Chief Financial Officer of IronNet, Inc., President and CFO of Fidelis Cybersecurity, Inc., Vice President - Strategy & Corporate Development of Jenzabar, Inc., and President and CFO of WhipTail Technologies LLC. Mr. Pforr was also a senior technology investment banker at Revolution Partners and Deutsche Banc Alex. Brown as well as a strategy consultant at Bain & Co. In connection with Mr. Pforr's appointment, MtronPTI established the terms of Mr. Pforr's compensation. Mr. Pforr will: (i) receive a base salary of $210,000 per year; and (ii) be eligible for an annual bonus at the discretion of the Board of Directors. On his start date, Mr. Pforr received a restricted stock award with an initial grant date value of $914,200 with a three-year vesting period. There are no arrangements or understandings between Mr. Pforr and any other person pursuant to which he was selected as an officer. Mr. Pforr has no family relationship with any director or executive officer of the Company, and he has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release of M-tron Industries, Inc., dated October 9, 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: October 9, 2024 By: /s/ Linda M. Biles Name: Linda M. Biles Title: Executive Vice President - Finance