Vishay Precision Group, Inc. (NYSE:VPG) Files An 8-K Entry into a Material Definitive Agreement

Vishay Precision Group, Inc. (NYSE:VPG) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

Item 1.01 Entry into a Material Definitive Agreement.

On March 24, 2017, Vishay Precision Group, Inc. (the Company)
entered into an agreement with its significant stockholder,
Nokomis Capital, L.L.C. (Nokomis), to which, among other things,
the parties agreed (i) to cooperate to identify and appoint a new
mutually acceptable independent director to serve on the Companys
Board of Directors (the Board) until the Companys 2018 annual
meeting; (ii) if such a mutually acceptable director has not been
appointed to the Board by June 30, 2017, then to appoint Wes
Cummins to the Board effective July 1, 2017; and (iii) that
Nokomis would vote its shares of the Companys common stock in a
manner consistent with the recommendations of the Board for
certain matters to be presented at the Companys 2017 annual
meeting of stockholders. As of the date of the Agreement, Nokomis
owned approximately 14.7% of the Companys outstanding capital
stock (15.9% of the Companys outstanding common stock).
The foregoing summary description of the Agreement does not
purport to be complete and is qualified in its entirety by
reference to the Agreement, a copy of which is filed as Exhibit
10.1 hereto and incorporated herein by reference.
Item 8.01 Other information.
On March 27, 2017, the Company issued a press release announcing
execution of the Agreement. A copy of the press release is filed
as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
10.1
Agreement, dated March 24, 2017, between the Company
and Nokomis Capital, L.L.C.
99.1
Press release, dated March 27, 2017.


About Vishay Precision Group, Inc. (NYSE:VPG)

Vishay Precision Group, Inc. (VPG) is a designer, manufacturer and marketer of sensors and sensor-based measurement systems, as well as specialty resistors and strain gages. The Company operates through three business segments: Foil Technology Products, Force Sensors, and Weighing and Control Systems. Its Foil Technology Products segment includes foil resistor and strain gage operating segments. The Foil Technology Products segment’s brands include Alpha Electronics, Micro-Measurements, Powertron and Vishay Foil Resistors. The Force Sensors segment includes load cells and force measurement transducers that are offered as precision sensors for industrial and commercial use. The Weighing and Control Systems segment designs and manufactures systems that consists of load cells and instrumentation for weighing and force control/measurement for a range of uses, including on-board weighing and overload monitor systems. The segment’s brands include BLH Nobel, KELK and VPG Onboard Weighing.

Vishay Precision Group, Inc. (NYSE:VPG) Recent Trading Information

Vishay Precision Group, Inc. (NYSE:VPG) closed its last trading session down -0.10 at 15.80 with 23,203 shares trading hands.

An ad to help with our costs