AEROVIRONMENT,INC. (NASDAQ:AVAV) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective December10, 2018, AeroVironment,Inc. (the “Company”) appointed Ken Karklin as its Senior Vice President of Operations. Mr.Karklin, 50, has been serving as the Company’s Vice President of Transition Services since June2018 after previously serving as the Company’s Vice President and General Manager of the Company’s Efficient Energy Systems business from May2015 until the Company’s divestiture of such business in June2018. Mr.Karklin also served as the Company’s Director of Corporate Quality from August2014 to May2015 and as Director of Quality Assurance from March2010 to August2014. Mr.Karklin holds a B.S. in Mechanical Engineering from Rensselaer Polytechnic Institute.
Item 7.01. Regulation FD Disclosure
On December14, 2018, the Company announced that its chairman of the board, Timothy E. Conver, as Trustee of The Conver Family Trust (the “Trust”), has established a pre-arranged stock trading plan to sell a portion of Company stock held by the Trust over a specific period of time. The stock trading plan is part of a long-term strategy for asset diversification and liquidity and was adopted in accordance with guidelines specified under Rule10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company’s policies with respect to employee stock transactions. The public announcement was made by means of a press release, the text of which is set forth in Exhibit99.1 hereto.
The information in this Item 7.01 of this Current Report is being furnished and shall not be deemed“filed”for purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Item 7.01 of this Current Report shall not be incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
The Company does not undertake to report other Rule10b5-1 plans that may be adopted by any of its officers or directors in the future, or to report any modifications or termination of any publicly announced plan, except to the extent required by law.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
AeroVironment Inc Exhibit
EX-99.1 2 a18-41630_1ex99d1.htm EX-99.1 Exhibit 99.1 AeroVironment Announces Establishment of 10b5-1 Trading Plan by Chairman SIMI VALLEY,…
To view the full exhibit click here
About AEROVIRONMENT,INC. (NASDAQ:AVAV)
AeroVironment, Inc. designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense (DoD). The Company also supplies charging systems and services for electric vehicles (EVs), and power cycling and test systems to commercial, consumer and government customers.