FUEL TECH, INC. (NASDAQ:FTEK) 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.
(b) Departure of Certain Officers
On July 19, 2017, Mr. Douglas G. Bailey, Executive Chairman of the Board of Directors (the “Board”) of Fuel Tech, Inc. (the “Company”) notified the Company that, with effect on September 1, 2017, he was retiring from his position as Executive Chairman of the Board of Directors. Mr. Bailey will remain a director with a term expiring at the Company’s annual meeting of stockholders in 2018. The Company thanks Mr. Bailey for his many years of service as an executive officer of the Company.
In connection with Mr. Bailey’s departure as Executive Chairman, on July 19, 2017, the Board also took action, with effect on September 1, 2017, to appoint Mr. Vincent J. Arnone, who is currently a member of the Board and the Company’s President and Chief Executive Officer, to be Chairman of the Board.
Item 7.01.Regulation FD Disclosure.
Attached hereto as Exhibit99.1 and incorporated by reference herein is a press release regarding the event described in Item 5.02 of this Current Report on Form 8-K as issued by the Company on July 25, 2017.
Disclaimer of Filing
Except as otherwise indicated in this Current Report on Form 8-K, the information in this Item 7.01 is furnished to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. This Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
99.1 Press Release of Fuel Tech, Inc., dated July 25, 2017
NOTE REGARDING FORWARD-LOOKING STATEMENTS
The statements contained herein include “forward-looking statements” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, which are made to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech’s current expectations regarding future growth, results of operations, cash flows, performance and business prospects, and opportunities, as well as assumptions made by, and information currently available to, our management. Fuel Tech has tried to identify forward-looking statements by using words such as “anticipate,” “believe,” “plan,” “expect,” “estimate,” “intend,” “will,” and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including, but not limited to, those discussed in Fuel Tech’s Annual Report on Form 10-K in Item 1A under the caption “Risk Factors,” and subsequent filings under the Securities Exchange Act of 1934, as amended, which could cause Fuel Tech’s actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reason. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in Fuel Tech’s filings with the Securities and Exchange Commission.
FUEL TECH, INC. ExhibitEX-99.1 2 chairmansuccessionpressrel.htm EXHIBIT 99.1 Exhibit CONTACT:David S. Collins Devin Sullivan Chief Financial Officer Senior Vice President (630) 845-4500 The Equity Group Inc. (212) 836-9608 FUEL TECH EXECUTIVE CHAIRMAN DOUGLAS G. BAILEY TO RETIRE; VINCENT J. ARNONE NAMED CHAIRMAN OF THE BOARD WARRENVILLE,…To view the full exhibit click here
About FUEL TECH, INC. (NASDAQ:FTEK)
Fuel Tech, Inc. is a technology company. The Company is engaged in the development, commercialization and application of technologies for air pollution control, process optimization, combustion efficiency and engineering services. It operates through three segments: Air Pollution Control technology, FUEL CHEM technology and Fuel Conversion. The Air Pollution Control technology segment includes technologies to manage nitrogen oxides (NOx) emissions in flue gas from boilers, incinerators, furnaces and other stationary combustion sources. The FUEL CHEM technology segment uses chemical processes in combination with computational fluid dynamics (CFD) and chemical kinetics modeling (CKM) boiler modeling, for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace. The Fuel Conversion segment represents the CARBONITE fuel conversion process and technology.