Frequency Electronics, Inc. (NASDAQ:FEIM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 31, 2018, Markus Hechler, Executive Vice President, President of FEI Government Systems, Inc. and Secretary and Treasurer notified Frequency Electronics, Inc. (the “Company”) of his retirement, effective January 1, 2019. The Board of Directors of the Company has appointed Steven Bernstein as Secretary and Treasurer of the Company. These new roles are in addition to Mr. Bernstein’s current role as the Company’s Chief Financial Officer.
In connection with Mr. Hechler’s retirement, the Company has agreed to pay Mr. Hechler a lump sum payment equal to seven months’ salary at his latest pay rate within thirty days of his retirement. Mr. Hechler will also provide transitional consulting services to the Company for three days a week, at a daily rate of $1,000, for a period of one calendar year.
Item 7.01Regulation FD Disclosure.
On January 7, 2018, the Company issued a press release, a copy of which is attached as Exhibit 99.1 and incorporated by reference into this Item 7.01 of this Current Report on Form 8-K, announcing the retirement of Mr. Hechler and the appointment of John Caulfield as Vice President of Manufacturing.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 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 on Form 8-K shall not be incorporated by reference into any filing or other document to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
FREQUENCY ELECTRONICS INC Exhibit
EX-99.1 2 ex_132554.htm EXHIBIT 99.1 ex_132554.htm Exhibit 99.1 PRESS RELEASE Frequency Electronics,…
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About Frequency Electronics, Inc. (NASDAQ:FEIM)
Frequency Electronics, Inc. (FEI) is principally engaged in the design, development and manufacture of precision time and frequency control products and components for microwave integrated circuit applications. The Company operates in three segments: FEI-NY, Gillam-FEI and FEI-Zyfer. The FEI-NY segment also includes the operations of the Company’s subsidiaries, Frequency Electronics, Inc. Asia (FEI-Asia) and FEI-Elcom Tech, Inc. (FEI-Elcom). It operates through several facilities located across the world, which is used for manufacturing its products and for administrative activities, which includes Long Island, New York; Garden Grove, California; Liege, Belgium; Tianjin, China, and Rockleigh, New Jersey. The Company’s services are employed in commercial, government, command, control, communication, computer, intelligence, security and reconnaissance (C4ISR) and other military electronic systems. Its technology is used for a range of terrestrial and space applications.
