SAFEGUARD SCIENTIFICS INC appointed Mark Dow as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


The Company has also previously announced that, in connection with the Transaction, Messrs. Salzman and Herndon will no longer serve as the Company's executive officers as of December 31, 2023, and the Company entered into a letter agreement (the "Services Agreement") with Rock Creek Advisors, LLC ("Rock Creek"). Pursuant to the Services Agreement, Rock Creek started to perform certain consulting and advisory services related to the outsourcing of the Company's financial and operational functions effective as of January 1, 2024. In addition, the Board appointed Mark Dow of Rock Creek as the Company's Chief Executive Officer, Chief Financial Officer and Secretary effective as of January 1, 2024.


Mr. Dow, 57, has been serving as Managing Director of Rock Creek since January 2019. As Managing Director of Rock Creek, he provides a full range of financial advisory, operational and management services to companies that have reached a financial inflection point due to business or market conditions. Mr. Dow has served as Chief Financial Officer and Chief of Operating Office of middle market companies, worked on turnarounds, managed wind downs and formal insolvency proceedings. Mr. Dow has more than 27 years of accounting, finance and operations experience.


Mr. Dow's compensation for this position is included as part of the fees payable by the Company to Rock Creek for overall services Rock Creek provides to the Company. There are no additional, and no anticipated additional, compensatory arrangements between the Company and Mr. Dow in connection with his performance as the Company's officer beyond such fees payable by the Company to Rock Creek. Other than as described above, there are no arrangements or understandings between Mr. Dow and any other person pursuant to which he was appointed to serve as Company's Chief Executive Officer, Chief Financial Officer and Secretary. There are no family relationships between Mr. Dow and any director or executive officer of the Company. Other than as disclosed herein, Mr. Dow does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.