CTS Corp Appoints New CFO, McShane

TL;DR

CTS Corp just hired a new CFO, Michael McShane, with a $375k salary and $750k in stock.

AI Summary

On March 5, 2025, CTS Corporation announced the appointment of Michael J. McShane as its new Chief Financial Officer, effective March 10, 2025. McShane will receive an annual base salary of $375,000 and will be eligible for an annual incentive award of up to 60% of his base salary. He will also receive a one-time grant of restricted stock units (RSUs) valued at approximately $750,000.

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

• $375,000 — CFO Base Salary (Annual compensation for Michael J. McShane)
• 60% — CFO Incentive Potential (Maximum annual incentive award percentage for new CFO)
• $750,000 — CFO RSU Grant (Value of one-time restricted stock unit award for new CFO)

Key Players & Entities

• CTS Corporation (company) — Registrant
• Michael J. McShane (person) — Appointed Chief Financial Officer
• $375,000 (dollar_amount) — Annual base salary for new CFO
• 60% (dollar_amount) — Maximum annual incentive award for new CFO
• $750,000 (dollar_amount) — Value of one-time RSU grant for new CFO
• March 10, 2025 (date) — Effective date of CFO appointment
• March 05, 2025 (date) — Date of report

FAQ

From the Filing

0000950170-25-036408.txt : 20250310 0000950170-25-036408.hdr.sgml : 20250310 20250310164110 ACCESSION NUMBER: 0000950170-25-036408 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20250305 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250310 DATE AS OF CHANGE: 20250310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CTS CORP CENTRAL INDEX KEY: 0000026058 STANDARD INDUSTRIAL CLASSIFICATION: PRINTED CIRCUIT BOARDS [3672] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 350225010 STATE OF INCORPORATION: IN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04639 FILM NUMBER: 25724387 BUSINESS ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 6305778800 MAIL ADDRESS: STREET 1: 4925 INDIANA AVENUE CITY: LISLE STATE: IL ZIP: 60532 8-K 1 cts-20250305.htm 8-K 8-K 0000026058 false 0000026058 2025-03-05 2025-03-05   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 05, 2025     CTS CORPORATION (Exact name of Registrant as Specified in Its Charter)     Indiana 1-4639 35-0225010 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           4925 Indiana Avenue   Lisle , Illinois   60532 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: (630) 577-8800     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, no par value   CTS   The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On March 5, 2025, Scott D’Angelo, Vice President, Chief Legal and Administrative Officer and Corporate Secretary of CTS Corporation (the “Company”) submitted his resignation, effective April 4, 2025 (the “Effective Date”). Mr. D’Angelo’s resignation was a personal decision to pursue another chief legal officer opportunity and was not the result of any disagreement with the Company. Mr. D’Angelo will remain Vice President, Chief Legal and Administrative Officer and Corporate Secretary until the Effective Date.   SIGNATURES Pursuant to the requir