ASTRONOVA, INC. (NASDAQ:ALOT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On January16, 2018, the Board of Directors of AstroNova, Inc. (the “Company”) appointed David S. Smith as its Vice President, Treasurer and Chief Financial Officer, effective as of January22, 2018. Mr.Smith will succeed Joseph P. O’Connell, who currently serves as the Company’s interim Chief Financial Officer and Treasurer.
Mr.Smith, 60, has held a variety of senior finance positions at semiconductor and manufacturing companies, including senior vice president and chief financial officer of Standard Microsystems Corporation, a global semiconductor company, from 2005 to 2008; vice president, finance and chief financial officer of Dover Corporation, a diversified global manufacturing company, from 2000 to 2002; and vice president, finance and chief financial officer of Crane Co., a diversified manufacturing company from 1994 to 2000. Since 2008, Mr.Smith has served as the managing partner of S.C. Advisors LLC, a management consultancy firm. Mr.Smith earned a Masters of Business Administration from The Wharton School at the University of Pennsylvania.
As the Company’s Vice President, Treasurer and Chief Financial Officer, Mr.Smith will receive an annual base salary of $265,000, a car allowance of $1,500 per month, and a housing allowance of up to $2,400 per month. Mr.Smith will be entitled to participate in the Company’s short-term executive incentive plan with a target bonus equal to 40% of his base salary and will be eligible to participate in the Company’s executive long-term incentive plan equity program, subject to the approval of that program by the Compensation Committee of the Company’s Board of Directors. Mr.Smith will also receive options to purchase 50,000 shares of the Company’s common stock and 15,000 restricted stock units, each subject to a four-year vesting schedule. In addition, Mr.Smith will receive life insurance and other employee benefits made available to our other vice presidents, officers and employees and their eligible dependents.
About ASTRONOVA, INC. (NASDAQ:ALOT)
AstroNova, Inc., formerly Astro-Med, Inc., designs, develops, manufactures and distributes a range of specialty printers, and data acquisition and analysis systems. The Company operates through two segments: QuickLabel and Test & Measurement (T&M). The Company offers both hardware and software, which incorporate technologies in order to acquire, store, analyze and present data in multiple formats. It sells specialty printing systems, and test and measurement systems under the brand names, including QuickLabel. The QuickLabel segment offers product identification and label printer hardware, software, servicing contracts and consumable products. The T&M segment offers a suite of products and services that acquire and record visual and electronic signal data from local and networked sensors, as well as wired and wireless networks. It serves markets, such as aerospace, apparel, automotive, avionics, chemicals, computer peripherals, communications, distribution, and food and beverage.