Sypris Solutions, Inc. (NASDAQ:SYPR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Sypris Solutions, Inc. (NASDAQ:SYPR) 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.

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On July 28, 2020, the board of directors (the “Board”) of Sypris Solutions, Inc. (the “Company”) increased the size of the Board from seven to eight directors and elected Gary L. Convis as a Class II member of the Board. Mr. Convis was previously a director from November 2013 until May 2019.

The Board has determined that Mr. Convis is independent and meets the applicable independence requirements of the NASDAQ Stock Market. There have been no transactions since the beginning of the Company’s last fiscal year, and there are no currently proposed transactions, in which the Company was or is to be a participant and in which Mr. Convis or any member of his immediate family had or will have any interest, that are required to be reported under Item 404(a) of Regulation S-K. There are no arrangements or understandings to which Mr. Convis was selected as a director of the Company.

Mr. Convis will be compensated in accordance with the Sypris Solutions, Inc. Directors Compensation Program on the same basis as each of the other non-employee directors. 

In connection with the election, the Board has appointed Mr. Convis as a member of the Audit and Finance Committee and the Compensation Committee.

The full text of the press release is set forth in Exhibit 99.1 hereto.

Item 9.01     Financial Statements and Exhibits

99.1   Press release issued July 29, 2020.
 
 

SYPRIS SOLUTIONS INC Exhibit
EX-99.1 2 ex_195496.htm EXHIBIT 99.1 ex_195496.htm Exhibit 99.1   For more information contact:   Anthony C. Allen Vice President & Chief Financial Officer (502) 329-2000     Sypris ELECTS GARY L. CONVIS TO ITS BOARD OF DIRECTORS ───────────────────── FORMER TOYOTA EXECUTIVE AND MANUFACTURING EXPERT   LOUISVILLE,…
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About Sypris Solutions, Inc. (NASDAQ:SYPR)

Sypris Solutions, Inc. (Sypris) is a provider of outsourced services and specialty products. The Company offers a range of manufacturing, engineering, design and other technical services. The Company operates through two segments: Sypris Technologies and Sypris Electronics. Sypris Technologies segment, which consists of Sypris Technologies, Inc. and its subsidiaries, is engaged in the sale of goods and manufacturing services to customers in the market for truck components and assemblies and from the sale of products to the energy and chemical markets. Sypris Electronics segment, which consists of Sypris Electronics, LLC and its subsidiary, is engaged in the sale of manufacturing services, technical services and products to customers in the market for aerospace and defense electronics. The Sypris Electronics is organized in three business lines: Information Security Solutions (ISS), Electronic Manufacturing Services (EMS), and Cyber Security and Analytics (Cyber).

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