WSI Industries, Inc. (NASDAQ:WSCI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02
As previously reported, on May 19, 2017, WSI Industries, Inc. (the “Company”) and Michael J. Pudil entered into an offer letter agreement to which Mr. Pudil agreed to serve as the Company’s President and Chief Executive Officer at a base salary of $150,000 for the one-year period beginning May 19, 2017.
On June 12, 2018, the Company’s Compensation Committee recommended and the Company’s Board of Directors approved an increase in Mr. Pudil’s annual base salary from $150,000 to $255,000 effective May 19, 2018. The Compensation Committee retains the discretion to award bonuses for Company financial performance or other achievements.
About WSI Industries, Inc. (NASDAQ:WSCI)
WSI Industries, Inc. is involved in the precision machining and assembly of complex parts and components business. The Company primarily serves a range of markets, including aerospace, avionics, defense, energy and power sports. It offers a range of engineering, design, machining, sourcing, assembly, shipping and project management solutions. The Company caters its services to a range of industries, such as engine components, energy, aerospace, defense, semiconductor, medical and others. It offers precision machining and complex assembly for power sports and other engine and powertrain components, including all-terrain vehicle (ATV), automotive, marine engines, motorcycle, personal watercraft, flight controls, passive defense, commercial off the shelf (COTS), projectiles, special forces devices, deoxyribonucleic acid (DNA) sequencers, imaging and forensics technologies. It is engaged in small engine development, radar/microwave tracking and general aviation, among others.
