ARC Group Worldwide,Inc. (NASDAQ:ARCW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 28, 2018, R. Brian Knaley, the Chief Financial Officer of ARC Group Worldwide, Inc. (the “Company”), advised the Company’s Board of Directors that he will resign from his position with the Company effective on the earlier of: (i) the first business day following the filing of the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2018; or (ii) September 20, 2018 (the “Effective Date”).
The Board of Directors has accepted Mr. Knaley’s prospective resignation and appointed Mr. Aaron Willman to serve as Chief Financial Officer of the Company, to be effective on the Effective Date.
Mr. Willman has served as General Manager of the Company’s ARC Stamping subsidiary since 2014, also known as Kecy Metal Technologies (“Kecy”), one of the industry’s leading precision metal stamping companies.Prior to his affiliation with Kecy in 2013, Mr. Willman was employed by Plante Moran from 2008 to 2012 where he qualified for his CPA credentials and served in their tax, consulting, and audits teams. Plante Moran is the 14th largest certified public accounting and business advisory firm in the United States offering audit, accounting, tax and business advisory consulting services. Mr. Willman is 34 years old and obtained his bachelor’s degree at Bowling Green University with dual majors in accounting and finance, with an additional concentration in economics.Mr. Willman will receive annual compensation in the amount of $180,000 per year and will receive incentive stock options for the purchase of 108,374 shares of Company common stock under the Company’s equity incentive plan, at a purchase price per share equal to the Company’s closing price per share on the date of grant as quoted on the NASDAQ Stock Market.Mr. Willman has entered into a customary form of indemnification agreement with the Company in respect of his services to be rendered as Chief Financial Officer of the Company.
Item 5.02. Financial Statements and Exhibits