Business Context and Reporting Period
This Form 8-K Current Report was filed by Broadwind Energy, Inc. on May 16, 2016. The filing reports on corporate governance changes effective May 18, 2016, specifically the expansion of the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel appointments and does not contain financial performance data.
Material Changes
- Board Expansion: The Board of Directors increased its size from five to seven members.
- New Appointments: Persio V. Lisboa and Cary B. Wood were appointed as directors, effective May 18, 2016.
- Committee Assignments: Neither new director will initially serve on any Board committees.
Management Commentary and Compensation
The new directors will be compensated in accordance with the Company's standard director compensation policy for non-employee members. Both directors entered into the Company's standard form of indemnification agreement. There are no undisclosed arrangements or previous transactions requiring disclosure under Item 404(a) of Regulation S-K.
- Persio V. Lisboa: Previously served as President, Operations of Navistar, Inc. since November 2014, with extensive prior experience in procurement and logistics at Navistar and other international operations.
- Cary B. Wood: Previously served as CEO and President of Sparton Corporation (2008–2016) and held executive roles at Citation Corporation and General Motors.
Investor Verification Checklist
- Verify the effective date of the new directors' service (May 18, 2016).
- Review the attached Press Release (Exhibit 99.1) for additional context on the appointments.
- Confirm the specific terms of the director compensation policy referenced in the filing.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.