BROADWIND ENERGY, INC. (NASDAQ:BWEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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BROADWIND ENERGY, INC. (NASDAQ:BWEN) 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.

OnJuly 25, 2017, the board of directors of Broadwind Energy, Inc. (the “Company”) appointed Jason L. Bonfigt, currently Vice President and Corporate Controller of the Company, as Chief Financial Officer and Treasurer of the Company, effective August 7, 2017. He will retain his title as Vice President and will remain the Company’s Principal Accounting Officer, but will cease to be the Corporate Controller of the Company. Mr. Bonfigt will also become the Principal Financial Officer of the Company. At the same time, Stephanie K. Kushner will cease to be Chief Financial Officer and Treasurer of the Company. Ms. Kushner will remain President and Chief Executive Officer of the Company.

Mr. Bonfigt, age 39, has served as the Company’s Vice President and Corporate Controller since August 1, 2016. He was previously Vice President of Finance at Brad Foote Gear Works, Inc., the Company’s wholly-owned subsidiary, beginning in May 2014, and before that served as the Company’s Director of Finance beginning in March 2011. Mr. Bonfigt joined the Company in August 2008, and during his tenure has held various financial and operational roles, focusing on financial reporting and control and financial planning and analysis. He holds a Bachelor of Science degree in Accounting and Finance from the University of Wisconsin – Green Bay and a Master of Business Administration degree in Finance and Economics from the Kellogg School of Management at Northwestern University. Mr. Bonfigt has no related party transactions with the Company reportable under Item 404(a) of Regulation S-K and has no family relationships with any director, executive officer or nominee for director or executive officer of the Company.

Inconnection with his appointment, Mr. Bonfigt will receive an annual base salary of $215,000. He will be eligible for participation in the Company’s Executive Short-Term Incentive Plan, with a target award of 50% of his base salary, and in the Company’s 2015 Equity Incentive Plan, with a target award of 50% of his base salary. His bonus and equity awards for 2017 will be pro-rated based on the date of his appointment.


About BROADWIND ENERGY, INC. (NASDAQ:BWEN)

Broadwind Energy, Inc. provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing. The Company’s Towers and Weldments segment manufactures towers for wind turbines, specifically the large and heavier wind towers that are designed for multiple megawatt (MW) wind turbines. The Company’s Gearing segment engineers, builds and remanufactures precision gears and gearing systems for oil and gas, wind energy, mining, steel and other industrial applications. Within the United States wind energy industry, it provides products and services to wind turbine manufacturers. It also provides precision gearing and specialty weldments to a range of industrial customers for oil and gas, mining, steel and other industrial applications.