A. M. CASTLE Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On October 6, 2017, the Board of Directors (the “Board”) of A.M. Castle & Co. (the “Company”) appointed Michael Sheehan to the Board, effective immediately. The Board has not made any determinations regarding committee assignments for Mr. Sheehan at this time.
As a director of the Company, Mr. Sheehan will participate in the Company's non-employee director compensation program. Under the current non-employee director compensation program, each non-employee director will receive an annual cash fee of $60,000 (paid in four equal quarterly installments).
There are no arrangements or understandings between Mr.Sheehan and any other persons to which he was elected as a director. There are no transactions between Mr.Sheehan and the Company that would require disclosure under Item 404(a) of Regulation S-K.
About A. M. CASTLE & CO. (OTCMKTS:CASL)
A. M. Castle & Co. is a specialty metals distribution company. The Company operates through two segments: Metal and Plastics. In its Metals segment, the Company focuses on distributing engineered specialty grades and alloys of metals, as well as providing specialized processing services. Its products include alloy, aluminum, nickel, stainless steel, carbon and titanium. Inventories of these products assume various forms, such as plate, sheet, extrusions, round bar, hexagon bar, square and flat bar, tubing and coil. The Company’s Plastics segment includes its subsidiary, Total Plastics, Inc. (TPI). The Plastics segment stocks and distributes a range of plastics in forms that include plate, rod, tube, clear sheet, tape, gaskets and fittings. Processing activities within this segment include cut-to-length, cut-to-shape, bending and forming according to customer specifications. The Company distributes and performs processing on both metals and plastics.