PARK ELECTROCHEMICAL CORP. (NYSE:PKE) 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.
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Departure of Directors or Certain |
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| Item 5.02(f). |
Determination of Cash Bonus Awards for Fiscal Year 201. |
On December 14, 2016, the Compensation
Committee of the Board of Directors of Park Electrochemical Corp.
(the “Company”) approved cash bonus awards for the Company’s
executive officers identified below for the fiscal year
ended February 28, 2016. Other
compensation for fiscal year 2016
was previously reported by the Company in the Summary
Compensation Table beginning on page of the
definitive proxy statement, dated June 16, 2016, for its 20
Annual Meeting of Shareholders on July 19, 2016 (filed with the
Securities and Exchange Commission on June 16, 2016) (the “Proxy
Statement”). As of the filing of the Proxy Statement, cash
bonuses for executive officers had not been determined and,
therefore, were omitted from theSummary Compensation Table
included in the Proxy Statement. to Item 5.02(f) of Form 8-K, the
cash bonus awards for the named executive officers for fiscal
year 2015 are set forth below.
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Fiscal 2016 |
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Name and Principal Position |
Cash Bonus Award |
Total Compensation |
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Brian E. Shore |
$ | -0- | $ | 482,360 | ||||
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Chairman of the Board and Chief Executive Officer |
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P. Matthew Farabaugh |
15,000 | 232,839 | ||||||
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Senior Vice President and Chief Financial Officer |
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Christopher T. Mastrogiacomo |
35,000 | 489,641 | ||||||
| President and Chief Operating Officer | ||||||||
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Stephen E. Gilhuley |
10,000 | 273,330 | ||||||
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Executive Vice President-Administration and Secretary |
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Constantine Petropoulos |
10,000 | 353,701 | ||||||
| Vice President and General Counsel | ||||||||
Total compensation in the table above consists of
salaries, bonuses, the grant date fair values of stock options
granted to each of the named executive officers and the amounts
of the Companys annual profit sharing contributions to the
Companys Employees Profit Sharing and 401(k) Retirement Savings
Plan.
Mr. Shores compensation shown in the table above for the
201 fiscal year consisted of salary of $357,760
and the fair value of stock options granted for the 2016 fiscal
year of $ 124,600.
As reported in the Proxy Statement, Mr. Shore has
declined to accept the Compensation Committees offer of a salary
increase and a bonus each year since the Companys 2001 fiscal
year, except for bonuses for the 2008 through 2014 fiscal years,
which he donated in their entirety to charity.
About PARK ELECTROCHEMICAL CORP. (NYSE:PKE)
Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets. The Company operates through integrated business units in Asia, Europe and North America. The Company’s manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company also maintains research and development facilities in Arizona, Kansas and Singapore. The Company’s foreign operations are conducted principally by the Company’s subsidiaries in Singapore and France. PARK ELECTROCHEMICAL CORP. (NYSE:PKE) Recent Trading Information
PARK ELECTROCHEMICAL CORP. (NYSE:PKE) closed its last trading session down -0.22 at 18.64 with 55,538 shares trading hands.
