WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) 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 Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Technologies, Inc. (the Company) appointed Mark A. Zorko, age 64,
to the Companys the Board of Directors. Mr. Zorko will serve as
Chairman of the Audit Committee of the Board of Directors. At the
same time, the Board of Directors announced that Fared Adib, a
Board member since 2014, was stepping down from the Board of
Directors effective January 30, 2017.
support services firm Brentwood Advisory, LLC. Mr. Zorko chairs the
Nominating and Corporate Governance Committee and serves on both
the Audit and Compensation Committees of MFRI (NASDAQ: MFRI), a
$100-million firm in the piping solutions industry. He was the
interim CFO at radiation science and services firm Landauer Inc.
(NYSE: LDR) from June 2014 until April 2015. Mr. Zorko served as
the CFO of Steel Excel, Inc. (NASDAQ: SXCL), a public energy
industry firm, from August 2011 until May 2013. He also served as
the President and CEO of SXCL’s subsidiary Wells Services Ltd.
(WSL), a $30-million Steel Excel business, in 2012 and CFO of DGT
Holdings (DGTC), a medical imaging firm, from 2006 through 2012.
SXCL, WSL and DGTC are all affiliated with Steel Partners Holding,
L.P., a publicly traded diversified global holding company.
microfinance bank, and was on the Finance Committee for the Alexian
Brothers Health System. He received a Master of Business
Administration in IT from the University of Minnesota and a
Bachelor of Science in Accounting from The Ohio State University.
After completing his MBA, Mr. Zorko began his career as a CPA at
Arthur Andersen, and worked his way up via the controllership ranks
at Honeywell and Zenith Data Systems in the United States and
Europe. He is a Certified Public Accountant and a NACD Board
Leadership Fellow.
a grant of 20,000 restricted shares of the Company’s Class A
Common Stock. This award vests on the first anniversary of the
grant date.
non-employee directors of the Company. A description of the
Companys director compensation plan is included in the Companys
proxy statement for the 2016 annual meeting of stockholders, which
was filed with the SEC on August 2, 2016, under the heading
Director Compensation.
to the Board is attached hereto as Exhibit 99.1 and incorporated
herein by reference.
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Item 9.01
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FINANCIAL STATEMENTS AND EXHIBITS
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99.1
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Press release announcing the appointment of Mr. Zorko to
the Board. |
About WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL)
Westell Technologies, Inc. is a provider of in-building wireless, intelligent site management, cell site optimization and outside plant solutions. The Company’s set of products and solutions are designed to manage network performance for carriers, integrators and other network operators. The Company operates in two segments: In-Building Wireless (IBW) and Communication Solutions Group (CSG). The Company’s segments are engaged in the design, development, assembly, and marketing of a range of products and solutions. The IBW segment solutions include distributed antenna systems (DAS) conditioners, digital repeaters and bi-directional amplifiers (BDAs), and system components and antennas, all used by wireless service providers and third-party hosts to fine tune radio frequency (RF) signals. The Company’s intelligent site management solutions include a suite of remote monitoring and control devices. WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) Recent Trading Information
WESTELL TECHNOLOGIES, INC. (NASDAQ:WSTL) closed its last trading session up +0.010 at 0.660 with 84,186 shares trading hands.
