Posted 11 October, 2022
M-tron Industries, Inc. appointed Michael Ferrantino as new CEO
NYSE:MPTI appointed new Chief Executive Officer Michael Ferrantino in a 8-K filed on 11 October, 2022.
In addition, effective as of 12:01 a.m. Eastern Time on October 7, 2022, Michael Ferrantino was appointed to serve as the Chief Executive Officer of MtronPTI, William A. Drafts was appointed to serve as the President of MtronPTI, James W. Tivy was appointed to serve as the Chief Financial Officer of MtronPTI, and Linda M. Biles was appointed to be the V.P., Controller and Secretary of MtronPTI following the Distribution.
$116M
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Directors and Officers Effective as of 12:01 a.m. Eastern Time on October 7, 2022, Marc J. Gabelli, Michael J. Ferrantino, Hendi Susanto, John S. Mega, Bel Lazar, Robert V. "Rob" LaPenta Jr., and David M. Goldman were appointed as directors of MtronPTI. Marc J. Gabelli was appointed Chairman of the Board effective as of 12:01 a.m. Eastern Time on October 7, 2022. The Information Statement under the section entitled "Management" contains the biographical information about the newly appointed directors. Such information is incorporated by reference in this Item 5.02. There are no arrangements or understandings between any of the directors named above and any other person pursuant to which such director was appointed to the Board. There are no other relationships between the directors named above and MtronPTI that would require disclosure pursuant to Item 404(a) of Regulation S-K. In connection with their joining the Board, certain directors of MtronPTI were appointed to the Audit, Compensation, and Nominating / Corporate Governance Committees of the Board (the "Committees") effective as of 12:01 a.m. Eastern Time on October 7, 2022. The current composition of the Committees is as follows: - the Audit Committee consists of Robert V. "Rob" LaPenta Jr., John S. Mega, and Bel Lazar with Mr. LaPenta serving as the Chairman of the Audit Committee; - the Compensation Committee consists of Bel Lazar, John S. Mega, and Robert V. "Rob" LaPenta Jr., with Mr Lazar serving as Chairman of the Compensation Committee; and - the Nominating / Corporate Governance Committee consists of John S. Mega, Bel Lazar and Robert V. "Rob" LaPenta Jr., with Mr. Mega serving as Chairman of the Nominating / Corporate Governance Committee. In addition, effective as of 12:01 a.m. Eastern Time on October 7, 2022, Michael Ferrantino was appointed to serve as the Chief Executive Officer of MtronPTI, William A. Drafts was appointed to serve as the President of MtronPTI, James W. Tivy was appointed to serve as the Chief Financial Officer of MtronPTI, and Linda M. Biles was appointed to be the V.P., Controller and Secretary of MtronPTI following the Distribution. The Information Statement under the sections entitled "Management" and "Executive Compensation" contains the biographical information about and compensation information for the newly appointed officers, respectively. Such information is incorporated by reference in this Item 5.02.
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