LIMBACH HOLDINGS, INC. (NASDAQ:LMB) 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
On December 5, 2018, the board of directors (the “Board”) of Limbach Holdings, Inc. (the “Company”) appointed Michael McCann as the Company’s Co-Chief Operating Officer, effective January 1, 2019. Together with Kristopher Thorne, the Company’s other Co-Chief Operating Officer, Mr. McCann will be responsible for overseeing all of the Company’s operations.
Mr. McCann, age 36, joined Limbach in May 2010 as Vice President and Branch Manager of the Tampa Branch. In that role, Mr. McCann was responsible for the Company’s Florida business including mechanical construction, mechanical prime, special projects and service departments. Prior to joining Limbach, Mr. McCann attended Worcester Polytechnic Institute where he received a Bachelor of Science in Mechanical Engineering and Drexel University where he received a Master’s in Business Administration.
Upon the effective date of his appointment, Mr. McCann’s base salary will be raised to $310,000 per year and his annual restricted stock unit (“RSUs”) grant will be increased commensurate with his new position. His target bonus percentage will continue to be 60% of his base salary. Mr. McCann will not enter into a new employment agreement in connection with his new role.
There are no arrangements or understandings between Mr. McCann and any other persons to which he was selected as an officer. Furthermore, Mr. McCann is not a party to any transaction with any related person required to be disclosed to Item 404(a) of Regulation S-K.
