Business Context and Reporting Period
This Form 8-K Current Report was filed by Southland Holdings, Inc. on March 13, 2025. The report discloses significant changes in executive leadership, specifically the departure of the Chief Financial Officer and the appointment of a successor.
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 changes and does not contain financial performance data.
Material Changes
- Resignation of CFO: Cody Gallarda resigned as Executive Vice President, Chief Financial Officer, and Treasurer, effective March 28, 2025. The resignation is voluntary and not related to any disagreements regarding financial statements or internal controls.
- Appointment of New CFO: Keith Bassano, currently Vice President of Finance, was appointed to succeed Mr. Gallarda as Chief Financial Officer and Treasurer, effective March 28, 2025.
- Compensation: Mr. Bassano's annual base salary for the new role is set at $357,000. He remains eligible for the Company's 2022 Equity Incentive Plan.
Outlook, Risks, and Management Commentary
Management expressed confidence in Mr. Bassano's ability to lead the company's financial strategy, citing his over 15 years of experience in the engineering and construction industry and his tenure with the company since 2008 (joining a subsidiary) and 2020 (joining the parent company). No specific risks, contingencies, or unusual items were disclosed in this filing.
Investor Verification Checklist
- Verify the transition timeline for the CFO role (March 28, 2025).
- Confirm the absence of any undisclosed disagreements regarding financial reporting or internal controls.
- Review the Company's 2022 Equity Incentive Plan terms applicable to the new CFO.
- Monitor future filings for the appointment of a new Executive Vice President, as Mr. Gallarda held that title in addition to CFO.