RF INDUSTRIES, LTD. (NASDAQ:RFIL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

RF INDUSTRIES, LTD. (NASDAQ:RFIL) 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.

Story continues below

On December 31, 2020, the Board of Directors of RF Industries, Ltd. (the “Company”) appointed Mark K. Holdsworth as a director and new member of the Board, effective immediately. Mr. Holdsworth was appointed to fill the vacancy created by the recent retirement of Howard Hill. Mr. Holdsworth was also appointed as a member of the Board’s Nominating and Corporate Governance Committee, Audit Committee and Compensation Committee.

Mark K. Holdsworth, 55, is the Managing Partner of The Holdsworth Group, LLC (“THG”), which he founded in 2019. THG is a trusted capital partner, advisor, and curator of alternative investments for family offices and corporations worldwide. From 1999-2018, Mr. Holdsworth was a Co-Founder, Managing Partner and Operating Partner of Tennenbaum Capital Partners, LLC (“TCP”), a Los Angeles-based private multi-strategy investment firm that was acquired by BlackRock, Inc. in August 2018, and was a Managing Director at BlackRock until April 2019. Mr. Holdsworth is currently a director of Parsons Corporation (NYSE: PSN), where he serves as Chairman of the Corporate Governance and Responsibility Committee, and as a member of the Executive Committee. Mr. Holdsworth earned a Bachelor of Arts degree from Pomona College, a Bachelor of Science degree (with Honors) from the California Institute of Technology and a Master of Business Administration degree from Harvard Business School.

Mr. Holdsworth will be compensated under the Company’s director compensation program as in effect from time to time, as most recently described in the Company’s 2020 proxy statement filed with the Securities and Exchange Commission (the “SEC”) on July 22, 2020. As part of his annual compensation, Mr. Holdsworth was granted 3,334 shares of the restricted stock, which shares will vest quarterly through September 15, 2021. Mr. Holdsworth will also enter into the Company’s standard indemnification agreement for directors, the form of which was filed as Exhibit 10.21 to the Company’s Annual Report on Form 10-K, filed with the SEC on December 29, 2020.

The Company agreed to appoint Mr. Holdsworth to the Board in connection with his acquisition of shares of the Company’s common stock from Mr. Hill in a private transaction, in which Mr. Hill elected to resign from the Board. There are no other arrangements or understandings between Mr. Holdsworth and any other persons to which he was chosen as a director of the Company. There are no family relationships between Mr. Holdsworth and any of the Company’s directors, executive officers, or persons nominated or chosen by the Company to become a director. Mr. Holdsworth is not a party to any current or proposed transaction with the Company for which disclosure is required under Item 404(a) of Regulation S-K.

Item 8.01.             Other Events.

On January 5, 2021, the Company issued a press release announcing the appointment of Mr. Holdsworth as a director. The full text of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

Item 9.01.             Financial Statements and Exhibits.

(d)           Exhibits

 

R F INDUSTRIES LTD Exhibit
EX-99.1 2 ex_219788.htm EXHIBIT 99.1 ex_219788.htm     Exhibit 99.1   FOR IMMEDIATE RELEASE     Contact:       MKR Investor Relations Todd Kehrli Analyst/Investor Contact  (323) 468-2300  [email protected]        RF Industries Appoints Seasoned Financial Executive Mark Holdsworth to Board of Directors   SAN DIEGO,…
To view the full exhibit click here

About RF INDUSTRIES, LTD. (NASDAQ:RFIL)

RF Industries, Ltd. designs, manufactures and markets interconnect products and systems, including coaxial and specialty cables, and fiber optic cables. The Company’s segments include RF Connector and Cable Assembly, Medical Cabling and Interconnector, and Custom Cabling Manufacturing and Assembly. It operates through five divisions, which include Connector and Cable Assembly Division, which designs, manufactures and distributes coaxial connectors and cable assemblies that are integrated with coaxial connectors; the Bioconnect Division, which manufactures and distributes cabling and interconnect products to the medical monitoring market; Cables Unlimited Division, which operates through Cables Unlimited, Inc., a subsidiary of the Company; Comnet Telecom Supply Division, which operates through Comnet Telecom Supply, Inc., a subsidiary of the Company, and the Rel-Tech Electronics Division, which operates through Rel-Tech Electronics, Inc., a subsidiary of the Company.

An ad to help with our costs